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FORESIGHT VCT PLC Capital/Financing Update 2020
4769_rns_2020-04-21_5cb1cee4-e152-4921-9659-c98a729917cc.html
Capital/Financing Update
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National Storage Mechanism | Additional information
FORESIGHT VCT PLC (Company)
Increase in Offer Shares
The Company issued a prospectus dated 28 January 2020 (Prospectus) relating to an offer for subscription to raise up to £20 million, with an over-allotment facility to raise up to a further £5 million (Offer), through the issue of ordinary shares of 1p each in the capital of the Company (Offer Shares). The Company announced utilisation of the over-allotment facility on 13 March 2020.
The Company announces an increase to the maximum number of Offer Shares available under the Offer from 32.5 million to 34.5 million (Increase). The increase is to accommodate the additional number of Offer Shares required to raise the aggregate amount of £25 million originally sought under the Offer as a result of Offer Shares being issued at the lower NAV per Share announced on 27 March 2020, which reflected valuation reductions generally across the investments in the portfolio as a result of the market volatility arising from the impact of the Coronavirus (Covid-19) pandemic affecting all businesses including those in which the Company invests.
For further information please contact:
Company Secretary
Foresight Group LLP
Contact: Gary Fraser Tel: 0203 667 8100
Investor Relations
Foresight Group LLP
Contact: Ellie Kakoulli Tel: 0203 667 8181