Issue of Equity and Total Voting Rights and Capital

    Issue of Equity and Total Voting Rights and Capital 

ALBION TECHNOLOGY & GENERAL VCT PLC

Issue of Equity and Total Voting Rights and Capital

LEI Code 213800TKJUY376H3KN16

The first and final allotment for the 2022/2023 tax year of new ordinary shares of nominal value 1 penny per share ("New Shares") in Albion Technology & General VCT PLC (the “Company”) under the Albion VCTs Prospectus Top Up Offers 2021/22 (the “Offers”), (which was launched on 6 January 2022) took place on 11 April 2022.

Pursuant to the Prospectus, the Company offered an early bird discount of 1% on issue costs to existing shareholders and 0.5% on issue costs to new subscribers. These early bird discounts were available to investors who subscribed for New Shares for the first £10m received by 2 p.m. on 25 February 2022 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 170,608 New Shares which will be allotted at an issue price of 81.9 pence per share from existing shareholders and 13,972 New Shares allotted at an issue price of 82.3 pence per share for new subscribers, both of which qualified for the early bird discount. A further 737,806 New Shares will be allotted at an issue price of 82.8 pence per share (which did not qualify for the early bird discount). The total net proceeds receivable by the Company for this allotment is approximately £0.7 million, bringing net total raised to date under the prospectus to £23.4 million.

Application has been made to the Financial Conduct Authority for 922,386 New Shares to be admitted to the Official List and to the London Stock Exchange for the New Shares to be admitted to trading on the London Stock Exchange's market for listed securities. The New Shares rank pari passu with the existing shares in issue.

It is expected that admission to the Official List will become effective and that dealings in the New Shares will commence within three Business Days following allotment.

The Offers which constitute separate offers have been fully subscribed and all have been closed to further applications. The total amount raised across the Albion VCTs under the Offers is £96.5 million (of which £4.7 million relates to this tax year 2022/2023).

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 11 April 2022 consists of 182,565,270 ordinary shares with a nominal value of 1 penny each. The Company holds 20,904,204 ordinary shares in Treasury.

Therefore, the total number of voting rights in the Company is 161,661,066, 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:

Vikash HansraniOperations PartnerAlbion Capital Group LLPCompany Secretary 020 7601 185011 April 2022