Share Name Share Symbol Market Type Share ISIN Share Description
Pembroke Vct Plc LSE:PEMV London Ordinary Share GB00B89W2T50 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.0% 97.00 95.00 99.00 97.00 97.00 97.00 1,000 00:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Equity Investment Instruments 0.0 0.4 0.5 190.2 18

Pembroke VCT PLC Publication of Prospectus and Circular

02/09/2019 1:28pm

UK Regulatory (RNS & others)


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RNS Number : 9221K

Pembroke VCT PLC

02 September 2019

2 September 2019

Pembroke VCT plc

Publication of Prospectus and Circular

Pembroke VCT plc (the "Company") has today published a prospectus (the "Prospectus") in relation to the offer for subscription of up to GBP20 million of B Ordinary Shares of 1p each in the capital of the Company with an over-allotment facility for up to a further GBP20 million of B Ordinary Shares (the "Offer").

The Company has also today published a circular (the "Circular") convening a shareholder general meeting (the "General Meeting") to be held at 3 Cadogan Gate, London SW1X 0AS at 9.00 a.m. on 26 September 2019 at which resolutions will be put to Shareholders to approve the issue of further B Ordinary Shares (under the Offer and otherwise).

Copies of the Circular and Prospectus are available from Rosie Samuels at Pembroke Investment Managers LLP (tel: 020 7766 2836).

Subject to shareholder approval at the General Meeting, the offer of further B Ordinary Shares is expected to become unconditional with effect from 26 September 2019 (the date of the General Meeting) and will close not later than 3.00 p.m. on 5 April 2020 in respect of the 2019/2020 Offer and not later than 3.00 p.m. on 26 June 2020 in respect of the 2020/2021 Offer, or as soon as the Offer is fully subscribed. The closing date of the Offer, and the deadline for receipt of applications for the final allotment with respect to the 2020/21 Offer, may be extended by the Directors at their absolute discretion to a date no later than 1 September 2020.

Application has been made for the admission of the further B Ordinary Shares to be issued under the Offer to listing on the premium section of the FCA's Official List and to trading on the main market of the London Stock Exchange. It is expected that new B Ordinary Shares will be issued throughout the period of the Offer until it closes.

Pursuant to an offer agreement dated 2 September 2019 relating to the Offer between, among others, the Company and Pembroke Investment Managers LLP ("PIM"), PIM, as promoter of the Offer, will receive a commission of up to 3.5% of accepted applications. As PIM is the Company's investment manager and, therefore, a related party of the Company under the Listing Rules, the payment of such commission by the Company to PIM is a transaction to which Listing Rule 11.1.10R applies.

The B Ordinary Share class was launched in October 2014, and to date the Company has invested GBP39 million from its B Ordinary Share pool in 38 companies (of which 34 remain active investments).

A copy of the Prospectus is available, free of charge, from the registered office of the Company at 3 Cadogan Gate, London, SW1X 0AS.

Copies of the Prospectus and the Circular will be submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website:

http://www.morningstar.co.uk/uk/NSM

For further information, please contact:

Pembroke Investment Managers LLP (Manager)

020 7766 2836

Andrew Wolfson

The City Partnership (UK) Limited (Company Secretary)

0131 243 7215

Doreen Nic

Cornerstone Communications

+44 7917 080 365

Richard Acworth

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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September 02, 2019 08:28 ET (12:28 GMT)

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