Amati VCTs Top Up Share Issues NOW OPEN
Amati Global Investors are delighted to announce that Amati VCT & Amati VCT 2 have today published a Top Up Share Issue Information Document in connection with proposals to raise up to approximately £4m in each VCT or approximately £8 million in aggregate, by way of invitations to apply to subscribe for new ordinary shares (the “Share Issues”).
The Share Issues open on Tuesday 8 November 2016 and are expected to close at noon on Tuesday 4 April 2017 in respect of the 2016/2017 tax year and at noon on Friday 14 July 2017 in respect of the 2017/2018 tax year (or on an earlier date in each tax year if the maximum subscription has been received). The Share Issues will be managed in accordance with the limits applicable to non-prospectus share issues and applications will be accepted on a first come, first served basis, subject to the discretion of the VCT Directors.
The new ordinary shares will be issued at a price determined in accordance with a formula to allow for issue costs (as set out in the Information Document) and based on the last published net asset value per share ("NAV per Share") of the Company prior to the date of issue. The NAV per Share will be divided by 0.99 to determine the issue price in respect of applications from existing shareholders and in respect of applications received through authorised financial intermediaries, which allows for issue costs of 1%. For other applications the issue price will be determined by dividing the NAV per Share by 0.97, which allows for issue costs of 3%. Upon issue the new ordinary shares will be admitted to the Official List of the UKLA and to trading on the Main Market of the London Stock Exchange.
For further information on the Top Up Share Issues, please contact Rachel Le Derf on 0131 503 9115 or email email@example.com or visit our Top Up Share Issues Page.