Albion Ven Cap Trust Issue Of Equity And Total Voting Rights And Capital

 
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ALBION VENTURE CAPITAL TRUST PLC

Issue of Equity and Total Voting Rights and Capital

LEI Code 213800JKELS32V2OK421

The first and final allotment for the 2023/2024 tax year of new ordinary shares of nominal value 1 penny per share ("New Shares") in Albion Venture Capital Trust PLC (the "Company") under the Albion VCTs Prospectus Top Up Offers 2022/23 (the "Offers"), (which was launched on 10 October 2022) took place on 14 April 2023.

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 GBP10m 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 structured to avoid any capital dilution to existing shareholders who do not participate in the Offers.

The Company has received valid applications for 377,529 New Shares which will be allotted at an issue price of 50.90 pence per share from existing shareholders and 48,922 New Shares allotted at an issue price of 51.10 pence per share for new subscribers, both of which qualified for the early bird discount. A further 381,518 New Shares will be allotted at an issue price of 51.40 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 GBP0.4 million, bringing net total raised under the prospectus to GBP10.7 million.

Application has been made to the Financial Conduct Authority for 807,969 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 ordinary 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 GBP80 million (of which GBP2.3 million relates to this tax year 2023/2024).

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 14 April 2023 consists of 159,524,301 ordinary shares with a nominal value of 1 penny each. The Company holds 19,137,781 ordinary shares in Treasury.

Therefore, the total number of voting rights in the Company is 140,386,520, 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 Hansrani

Operations Partner

Albion Capital Group LLP

Company Secretary

020 7601 1850

14 April 2023

(END) Dow Jones Newswires

April 14, 2023 09:30 ET (13:30 GMT)

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