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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Pembroke Vct Plc | LSE:PEMV | London | Ordinary Share | GB00B89W2T50 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 95.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPEMV TIDMPEMB
RNS Number : 0823B
Pembroke VCT PLC
30 March 2017
30 March 2017
Pembroke VCT plc
Related Party Transaction
On 30 November 2016 Pembroke VCT plc (the "Company") launched an offer for subscription for up to GBP15 million of B Ordinary Shares of 1p each in the capital of the Company with an over-allotment facility for up to a further GBP10 million of B Ordinary Shares (the "Offer").
Peter Dubens, a director of the Company, has submitted an application to subscribe, in aggregate, GBP200,000 for B Ordinary Shares under the terms of the Offer, which has been accepted. As a director of the Company, he is a related party of the Company under the Listing Rules.
Pursuant to an offer agreement (the "Offer Agreement") dated 30 November 2016 relating to the Offer between, among others, the Company and Oakley Capital Limited ("Oakley"), Oakley, as co-promoter of the Offer, will receive a commission of between 5% (where commission is payable to an intermediary) and 2% (in all other cases) of the relevant accepted applications, with reductions to the fee applying in the case of early applications under the Offer (only where no intermediary commission is payable). No commission is, however, payable to Oakley in the case of direct investments of GBP200,000 made at any time during the Offer.
As Oakley was an associate of Peter Dubens at the time the Offer Agreement was entered into, Oakley was a related party of the Company under the Listing Rules and consequently the payment of commission by the Company to Oakley under the Offer Agreement was a transaction to which Listing Rule 11.1.10R applied. The payment of this commission to Oakley has been taken into account in determining the application of the related party rules under the Listing Rules to Peter Dubens' subscription referred to above, and consequently Peter Duben's subscription is a transaction to which Listing Rule 11.1.10R applies.
For further information, please contact:
Pembroke VCT plc
020 7766 6900
Peter Dubens
Oakley Investment Managers LLP (Manager)
020 7766 6900
Andrew Wolfson / Simon Male
Kin Capital Limited, Co-promoter to the Offer
0203 743 3100 / 0203 743 3122
Richard Hoskins / Tom Hopkins
The City Partnership (UK) Limited (Company Secretary)
0131 243 7215
Doreen Nic
Cornerstone Communications
07917 080 365
Richard Acworth
This information is provided by RNS
The company news service from the London Stock Exchange
END
MSCURVVRBWAOOAR
(END) Dow Jones Newswires
March 30, 2017 11:59 ET (15:59 GMT)
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