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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Seneca Growth Capital Vct Plc | LSE:HYG | London | Ordinary Share | GB0031256109 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 13.50 | 10.00 | 17.00 | 13.50 | 13.50 | 13.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
Trust,ex Ed,religious,charty | -2.26M | -2.75M | -0.0950 | -5.89 | 16.2M |
TIDMHYG Seneca Growth Capital VCT Plc Offer for Subscription 16 July 2019 The Board of Seneca Growth Capital VCT Plc (the "Company") are pleased to announce that the Company has published a prospectus in relation to an offer for subscription for B ordinary shares of 1p each in the Company to raise, in aggregate, up to GBP10 million with an over-allotment facility of up to a further GBP10 million (before issue costs) (the "Offer"). The Offer will open on 16 July 2019 and is expected to close no later than 5.00 p.m. on 3 April 2019 in relation to the tax year 2019/20, and no later than 5.00 p.m. on 9 July 2020 in relation to the tax year 2020/21 (unless the Offer has been fully subscribed by an earlier date or previously extended by the Board to a date no later than 13 July 2020). Pursuant to an offer agreement dated 16 July 2019 relating to the Offer between, among others, the Company and, Seneca Partners Limited ("SPL"), the investment manager of the Company, SPL as the promoter of the Offer will receive a promoter fee of up to 5.5% of the application amount in relation to each accepted application (with reductions to the fee applying in certain cases (for instance, early applications under the Offer)). The aggregate amount of promoter fee to be paid to SPL under the offer agreement shall not exceed GBP338,000. The Company has also agreed with SPL that with effect from 1 August 2019, SPL will take over the provision of the management accounting services, which were previously provided by the Company's administration manager, Pennywise Accounting Ltd ("Pennywise"). As a result, the terms of the investment management agreement will be varied so that SPL will be entitled to charge an additional` annual fee of GBP9,000 (plus VAT, if applicable), payable quarterly in arrears, replacing the fee currently charged by Pennywise. As SPL is a related party of the Company under the Listing Rules, the payment of a promoter fee by the Company to SPL, together with payment of an annual fee in relation to management accounting services, is a transaction to which Listing Rule 11.1.10R applies. Further, Richard Manley has expressed his intention to subscribe GBP25,000 under the Offer prior to its close. As a director of the Company, Richard Manley is a related party under the Listing Rules and consequently his subscription is a transaction to which Listing Rule 11.1.10R applies. To obtain a copy of the prospectus, private investors and financial advisers should call Seneca Partners Limited on 01942 295 981. A downloadable version of the prospectus will also be available from the Company's website: www.senecavct.co.uk/key-documents. A copy of the prospectus will be posted to all shareholders of the Company shortly and copies of the prospectus are available, free of charge, from Seneca Partners Limited at 12 The Parks, Haydock, Newton-Le-Willows, WA12 0JQ. In accordance with the Prospectus Rules, the prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM. For further information, please contact: John Hustler, Seneca Growth Capital VCT Plc at john.hustler@btconnect.com https://www.globenewswire.com/Tracker?data=eAcv4WRIBURMx1iM7mB9ilmAtzjHdOgA0pi8Hajf9Kh6SBL15Fsufab-agPAm-HnUZgmEnm6Fyu7wv2x9nXXzwh-Nwcyhejm0aCuuRYq11-jSTLkXdZ5BMg24AyPObyZ Richard Manley, Seneca Growth Capital VCT Plc at richard.manley@senecapartners.co.uk Any enquiries in respect of the Offer should be directed to: John Davies Seneca Partners Limited 01942 295 981 John.Davies@senecapartners.co.uk
(END) Dow Jones Newswires
July 16, 2019 12:27 ET (16:27 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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