Elderstreet VCT Plc Elderstreet Vct Plc : Publication Of Prospectus

 
TIDMEDV 
 
   Elderstreet Draper Esprit VCT plc 
 
   Legal Entity Identifier: 2138003I9Q1QPDSQ9Z97 
 
   7 December 2017 
 
   Publication of Prospectus 
 
   The board of Elderstreet Draper Esprit VCT plc (the "Company") (formerly 
Elderstreet VCT plc) is pleased to announce that the Company has today 
published a prospectus (the "Prospectus") relating to an offer for the 
subscription in respect of new ordinary shares (the "Offer"). 
 
   The Offer will open on 7 December 2017.  In respect of the 2017/18 tax 
year, the Offer will close at 4.00 p.m. on 5 April 2018 and, in respect 
of the 2018/19 Tax Year, it will close at 4.00 p.m. on 31 May 2018 
(unless extended or fully subscribed earlier). The Offer is seeking to 
raise up to GBP10 million with an overallotment facility of up to an 
additional GBP10 million. 
 
   As set out in the Prospectus, Elderstreet Investments Limited ("EIL"), 
the investment manager of the Company, will receive commission (the 
"Promoter's Fee") from the Company of up to 5.5% of the application 
amount due from an applicant in relation to their application for new 
ordinary shares made under the Offer. The amount of Promoter's Fee for 
any particular type of applicant is as set out in the Prospectus. 
 
   Out of its Promoter's Fee, EIL has agreed to be responsible for paying 
the costs of the Offer (excluding any initial commissions or adviser 
charges payable in relation to applications which are facilitated 
through the pricing formula set out in the Prospectus), any trail 
commission payable in the future and the registrar's costs in issuing 
the applicable share certificates which will be payable by the Company. 
Early investors will be entitled to a rebate from the Promoter's Fee as 
set out in the Prospectus. 
 
   As EIL is a related party of the Company under the Listing Rules, the 
payment of the Promoter's Fee by the Company to EIL is a transaction to 
which Listing Rule 11.1.10R applies. 
 
   A downloadable version of the Offer Document is available from 
www.elderstreet.com. The Offer Document will also be submitted to the 
National Storage Mechanism and will shortly be available for inspection 
at www.morningstar.co.uk/uk/NSM. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Elderstreet VCT plc via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

December 07, 2017 13:35 ET (18:35 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.