Source - GNW





The first allotment for the 2018/2019 tax year of new ordinary shares of nominal value 1 penny per share in Albion Development VCT PLC (the "Company") under the Albion VCTs Prospectus Top Up Offers 2017/18 (the "Offers"), (which was launched on 6 September 2017) took place on 11 April 2018.  This is the final allotment of shares under the Offers.


Pursuant to the Prospectus, the Company offered a 1% discount on issue costs to existing shareholders and 0.5% discount on issue costs to new subscribers. This early bird discount was available to investors whom subscribed for new shares for the first £10m by 2.00 p.m. on 31 October 2017 across the five VCTs participating in the Offers. The cost of these discounts is being borne by the Manager, Albion Capital Group LLP.


The Company has received valid applications for 76,930 new ordinary shares at an issue price of 75.0 pence per share from existing shareholders and 7,692 new ordinary shares at an issue price of 75.4 pence per share for new subscribers, both of which qualified for the early bird discount. A further 130,030 new ordinary shares will be allotted at an issue price of 75.7 pence per share (which did not qualify for the early bird discount). The net proceeds for this allotment by the Company are approximately £158,000, bringing the total net raised under the Prospectus for the Company of £5,863,000.


Application has been made to the Financial Conduct Authority for 214,652 new ordinary shares to be admitted to the Official List and to the London Stock Exchange for the new ordinary shares to be admitted to trading on the London Stock Exchange's market for listed securities. The new ordinary shares rank pari passu with the existing shares in issue.


It is expected that admission will become effective, and that dealings in the shares will commence on or before 8.00 a.m. on 13 April 2018.


The Offers which constitute separate offers have been fully subscribed and all have been closed.  The total amount raised across the Albion VCTs under the Offers is £32 million gross.


Following this allotment and in conformity with the provisions of DTR 5.6, we would like to notify the market of the following:


The Company's capital as at 11 April 2018 consists of 83,218,583 ordinary shares with a nominal value of 1 penny each. The Company holds 7,818,700 ordinary shares in Treasury.


Therefore, the total number of voting rights in the Company is 75,399,883, which may be used by shareholders and other persons 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 Company under the FCA's Disclosure Guidance and Transparency Rules.


For further information, please contact:

Albion Capital Group LLP

020 7601 1850


11 April 2018

This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Albion Development VCT PLC - Ordinary Shares via Globenewswire