Albion Dev VCT Issue Of Equity And Total Voting Rights

 
TIDMAADV 
 
 
   Issue of Equity and Total Voting Rights 
 
   ALBION DEVELOPMENT VCT PLC 
 
   LEI Code 213800FDDMBD9QLHLB38 
 
   The first and final allotment for the 2019/2020 tax year of new ordinary 
shares of nominal value 1 penny per share in Albion Development VCT PLC 
(the "Company") under the Albion VCTs Prospectus Top Up Offers 2018/19 
(the "Offers"), (which was launched on 7 January 2019) took place on 12 
April 2019. 
 
   Pursuant to the Prospectus, the Company offered a 1% discount on issue 
costs to existing shareholders and 0.5% discount on issue costs to new 
subscribers. These early bird discounts were available to investors who 
subscribed for new shares for the first GBP10m by 2 p.m. on 28 February 
2019 across the six VCTs participating in the Offers. The cost of these 
discounts is being borne by the Manager, Albion Capital Group LLP. The 
issue pricing of the new shares has been calculated to avoid any capital 
dilution to existing shareholders who do not participate in the Offers. 
 
   The Company has received valid applications for 165,805 new ordinary 
shares which will be allotted at an issue price of 86.0 pence per share 
from existing shareholders and 3,699 new ordinary shares allotted at an 
issue price of 86.5 pence per share for new subscribers, both of which 
qualified for the early bird discount. A further 348,756 new ordinary 
shares will be allotted at an issue price of 86.9 pence per share (which 
did not qualify for the early bird discount). The total net proceeds 
receivable by the Company for these allotments is approximately 
GBP439,000, bringing net total raised by the Company under the 
prospectus to GBP7,807,000. 
 
   Application has been made to the Financial Conduct Authority for 518,260 
new ordinary shares to be admitted to the Official List and to the 
London Stock Exchange for the new ordinary shares to be admitted to 
trading on the London Stock Exchange's market for listed securities. The 
new ordinary shares rank pari passu with the existing shares in issue. 
 
   It is expected that admission will become effective, and that dealings 
in the shares will commence on or before 8.00 a.m. on 16 April 2019. 
 
   The Offers which constitute separate offers have been fully subscribed 
and all have been closed.  The total amount raised across the Albion 
VCTs under the Offers is GBP48m (of which GBP2.6m relates to this tax 
year 2019/2020). 
 
   Following this allotment and in conformity with the provisions of DTR 
5.6, we make the following notifications in connection with the issued 
share capital of the Company: 
 
   The Company's capital as at 12 April 2019 consists of 93,073,427 
ordinary shares with a nominal value of 1 penny each. The Company holds 
9,515,156 ordinary shares in Treasury. 
 
   Therefore, the total number of voting rights in the Company is 
83,558,271 which may be used by shareholders and other persons as the 
denominator for the calculations by which they will determine if they 
are required to notify their interest in, or a change to their interest 
in, the Company under the FCA's Disclosure Guidance and Transparency 
Rules. 
 
   For further information, please contact: 
 
   Albion Capital Group LLP 
 
   Company Secretary 
 
   020 7601 1850 
 
   12 April 2019 
 
 
 
 

(END) Dow Jones Newswires

April 12, 2019 03:03 ET (07:03 GMT)

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