Issue of Equity
NOT FOR RELEASE, DISTRIBUTION OR
PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR
INTO, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE
UNITED STATES OR ANY MEMBER STATE OF THE EEA (OTHER THAN ANY MEMBER
STATE OF THE EEA WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY
MARKETED), OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO
DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES
NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY
SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS
IN ANY JURISDICTION.
17 October 2023
HARGREAVE HALE AIM VCT PLC(the
“Company”)
Allotment of Shares
The Board announced on 7 September 2023 that the
Company had published a prospectus (the "Prospectus") in relation
to an offer for subscription of ordinary shares of 1p each (the
"Ordinary Shares"), to raise up to £20,000,000, with the discretion
to utilise an over-allotment facility to raise up to a further
£20,000,000 (the "Offer"). On 16 October 2023 the Company allotted
6,617,235 new Ordinary Shares pursuant to the Offer conditional
only on Admission (the timetable for which is set out in more
detail below).
The offer price at which the 6,617,235 new
Ordinary Shares were allotted was 46.81 pence per Ordinary Share,
which was calculated, in accordance with the terms of the Offer, by
reference to the net asset value of an Ordinary Share on 6 October
2023 (as announced on 10 October 2023, being the last published net
asset value per Ordinary Share) divided by 0.965 (to allow for the
costs of the Offer).
Application will shortly be made for the
6,617,235 new Ordinary Shares to be admitted to the premium segment
of the Official List of the Financial Conduct Authority and to
trading on the premium segment of London Stock Exchange plc’s main
market for listed securities ("Admission"). It is
expected that Admission will occur and dealing will commence in the
new Ordinary Shares on or around 23 October 2023. When issued, the
new Ordinary Shares will rank pari passu with the existing Ordinary
Shares.
Oliver Bedford, a director of the Company, was
allotted 54,475 Ordinary Shares at 46.81 pence per share (including
shares issued as part of the early bird offer) and his total
holdings and those of the persons closely associated to him are now
222,265 Ordinary Shares representing 0.07% of the Company’s issued
Ordinary share capital.
As a result of the issue, the total number of
Ordinary Shares in issue will be 334,148,931 with each Ordinary
Share carrying one vote each. Therefore, the total voting
rights in the Company will be 334,148,931. This figure may be used
by shareholders in the Company 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
share capital of the Company under the Disclosure Guidance and
Transparency Rules.
The new Ordinary Shares will be issued in
registered form and may be held in uncertificated form. Definitive
documents of title are expected to be despatched within 15 business
days of allotment. The new Ordinary Shares will be
eligible for settlement through CREST with effect from
Admission.
Unless the context requires otherwise, terms
defined in the Prospectus have the same meaning where used in this
announcement.
END
For further information, please contact:
JTC (UK)
LimitedSusan FadilUloma Adighibe |
HHV.CoSec@jtcgroup.com +44 203 893 1005 +44 203 832 3877 |
LEI:
213800LRYA19A69SIT31
Important Information
This announcement is an advertisement for the
purposes of the Prospectus Regulation Rules of the UK Financial
Conduct Authority ("FCA") and is not a prospectus. This
announcement does not constitute or form part of, and should not be
construed as, an offer for sale or subscription of, or solicitation
of any offer to subscribe for or to acquire, any ordinary shares in
the Company in any jurisdiction, including in or into Australia,
Canada, Japan, the Republic of South Africa, the United States or
any member state of the EEA (other than any member state of the EEA
where the Company's securities may be lawfully marketed). Investors
should not subscribe for or purchase any ordinary shares referred
to in this announcement except on the basis of information in the
Prospectus in its final form, published on 5 September 2022 by the
Company in connection with the Offer. A copy of the Prospectus is
available for inspection, subject to certain access restrictions,
from the Company's registered office, for viewing at the National
Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the
Company's website (www.hargreaveaimvcts.co.uk). Approval of the
Prospectus by the FCA should not be understood as an endorsement of
the securities that are the subject of the Prospectus. Potential
investors are recommended to read the Prospectus before making an
investment decision in order to fully understand the potential
risks and rewards associated with a decision to invest in the
Company's securities.
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