INCOME & GROWTH VCT (THE) PLC

Regulatory Filings • Dec 6, 2019

National Storage Mechanism | Additional information

You don't have Javascript enabled. For full functionality this page requires javascript to be enabled.

RNS Number : 1087W

Income & Growth VCT (The) PLC

06 December 2019

The Income & Growth VCT plc

Dividend Investment Scheme ("the Scheme") - recommencement and changes to the terms and conditions ("the Scheme Rules")

The Board is pleased to announce that it has decided to recommence the Scheme, effective from 12 February 2020.

As part of the Board's consideration to recommence the Scheme, it has carried out a review of the Scheme Rules and it has decided to make certain amendments.

The key change is to amend the price at which new shares will be issued under the Scheme to the latest net asset value per existing share, as is the current market practice rather than, as previously, at the higher of 70% of the net asset value per share or the mid-market price per share (which, in practice, resulted in shares being issued at an effective discount to net asset value per share of circa 10%). The other changes are more updates in nature.

Participants in the Scheme will shortly be given notice of the proposed changes to the Scheme, which will take effect on 12 February 2020 (this being the date of recommencement), and will apply to all dividends paid by the Company after that date.  Current participants who wish to continue participating in the Scheme do not need to take any action.

New participants joining the Scheme from the date of this announcement will do so under the new Scheme Rules.

For further details and to access the Scheme Rules, please visit www.investors.mobeus.co.uk/vct-investors/the-income-and-growth-vct/dividends

For further information, please contact:

Mobeus Equity Partners LLP, Company Secretary

020 7024 7600

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

MSCCKADNABDDCBK