Albion Tech&Gen VCT Issue Of Equity And Total Voting Rights

 
TIDMAATG 
 
 
   Issue of Equity and Total Voting Rights 
 
   ALBION TECHNOLOGY & GENERAL VCT PLC 
 
   LEI Code 213800TKJUY376H3KN16 
 
   An allotment for the 2019/2020 tax year of new ordinary shares of 
nominal value 1 penny per share in Albion Technology & General 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. This is the final allotment of shares under the Offers. 
 
   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 
applied and subscribed for new shares for the first GBP10m by 2 p.m. on 
28 February 2019 across the six VCTs participating in the Offers, 
including for allotments to be made in the new tax year. 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 and the Company's net asset value as at 31 December 2018 
continues to be used for the pricing determination. 
 
   The Company has received valid applications for 101,276 new ordinary 
shares which will be allotted at an issue price of 78.6 pence per share 
from existing shareholders and 4,049 new ordinary shares allotted at an 
issue price of 79.0 pence per share for new subscribers, both of which 
qualified for the early bird discounts. A further 274,663 new ordinary 
shares will be allotted at an issue price of 79.4 pence per share (which 
did not qualify for the early bird discounts). The total net proceeds 
receivable by the Company for these allotments is approximately 
GBP294,000, bringing net total raised for the Company under the 
prospectus to GBP7,804,000. 
 
   Application has been made to the Financial Conduct Authority for 379,988 
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 128,791,886 
ordinary shares with a nominal value of 1 penny each. The Company holds 
16,757,470 ordinary shares in Treasury. 
 
   Therefore, the total number of voting rights in the Company is 
112,034,416 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 02:47 ET (06:47 GMT)

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