Praetura Growth VCT Plc Offer for Subscription

RNS Number : 5914L

Praetura Growth VCT Plc

08 November 2024

 

Praetura Growth VCT plc

Offer for Subscription

8 November 2024

LEI: 9845004ZDC57AB064B97

A prospectus relating to an offer for subscription of up to £10 million of ordinary shares of £0.01 each, together with an over-allotment facility for up to a further £10 million of ordinary shares (the "Offer"), was issued by the Company on 8 November 2024 (the "Prospectus").

The Offer will open on 8 November 2024 and is expected to close no later than 3 April 2025 for shares to be allotted in the 2024/25 tax year and, no later than 31 October 2025 for shares to be allotted in the 2025/26 tax year.

Pursuant to an offer agreement dated 8 November 2024 relating to the Offer between, among others, the Company and Praetura Ventures Limited ("Praetura Ventures"). Praetura Ventures, as the promoter of the Offer, will receive a promoter fee of up to 3% of the aggregate amount received by the Company under the Offer, subject to an overall cap of £170,096. Praetura Ventures, as the investment manager of the Company, is a related party of the Company under Listing Rule 11.5.3R, and the payment of such a fee by the Company to Praetura Ventures is a related party transaction of an adequate size under UK Listing Rule 11.5.6R for UK Listing Rule 8.2.1R to apply. The Board considers this transaction fair and reasonable as far as the shareholders of the Company are concerned and have been provided with written confirmation of this by the Company's sponsor, Howard Kennedy Corporate Services LLP.

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

Copies of the Prospectus are also available free of charge from the office of the Company's investment manager, Praetura Ventures Limited, Level 8 Bauhaus, 27 Quay Street, Manchester M3 3GY.

 

For further information, please contact:

Sam McArthur

Praetura Ventures Limited (Investment Manager)

[e-mail]

 

 

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