Calculus VCT PLC Issue of Equity (9682B)

TIDMCLC

RNS Number : 9682B

Calculus VCT PLC

07 April 2017

Calculus VCT plc

7 April 2017

Offer and Issue of Equity

The Board of Calculus VCT plc is pleased to announce that, in connection with the offer for subscription for D ordinary shares of 1p each ("D Shares") that opened on 25 November 2016 ("Offer"), an allotment of 160,810 D Shares in respect of the 2017/2018 tax year has taken place today at an average issue price of 96.39p per share. Application for the D Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's main market for listed securities has been made and it is expected that admission will take place on or around 13 April 2017.

Following this allotment, the issued share capital and total voting rights of the Company comprises:

 
                     Number of   Voting rights   Votes per 
                     shares in                       share 
                         issue 
 Ordinary shares 
  of 1p each         4,738,463       4,738,463           1 
 C shares of 
  1p each            1,931,095       1,931,095           1 
 D shares of 
  1p each            7,672,507       7,672,507           1 
 Total voting 
  rights            14,342,065      14,342,065           1 
 

The above total number of voting rights should be used by shareholders as the denominator for 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 and Transparency Rules.

Included in the above allotment, Kate Cornish-Bowden, a director of the Company, subscribed for 10,491 new D shares at 95.32p per share (a subscription of GBP10,000). This transaction falls as a smaller related party transaction within the definition of Listing Rule 11.1.10R because this dealing, when aggregated with a subscription by Miss Cornish-Bowden for 24,375 shares on 3 May 2016, exceeds the 0.25% de minimis threshold as set out in LR11.1.10R.

Miss Cornish-Bowden's shares were acquired on the same terms as, and on no more favourable a basis than, those shares subscribed for by other investors in this allotment.

SPARK Advisory Partners Limited, the Company's sponsor, has provided written confirmation that the terms of the agreement are fair and reasonable so far as the shareholders of the Company are concerned.

Following this transaction Miss Cornish-Bowden has 34,866 D shares, amounting to 0.45 per cent of the D shares in issue, and 10,000 C shares, together amounting to 0.31 per cent of the total shares in issue, in each case as enlarged by today's allotment.

Calculus Capital Limited

Company Secretary

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April 07, 2017 09:41 ET (13:41 GMT)