PEMBROKE VCT PLC

Share Issue/Capital Change • Oct 19, 2016

National Storage Mechanism | Additional information

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RNS Number : 9672M

Pembroke VCT PLC

19 October 2016

19 October 2016

Pembroke VCT plc

New share offer

The board of directors of Pembroke VCT plc (the "Company") is pleased to announce a new offer for subscription of B Ordinary Shares of up to £15 million, with an over-allotment facility of up to £10 million.

The Company has raised approximately £30.9 million (net of costs) since its inaugural offer for subscription in February 2013. As at 30 June 2016, the Company had invested £23.8 million in a diverse portfolio of 25 investments with £15.7 million from the Ordinary Share class and £8.1 million in the B Ordinary Share class.

The B Ordinary Shares are an existing class of share which at 30 June 2016 had an unaudited net asset value of 104.41 pence per share (prior to the payment of a final dividend of 2 pence per share to be paid on 31 October 2016).

The new offer will provide investors with immediate access to an existing portfolio of assets in the B Ordinary Share class which includes high growth opportunities such as Plenish, ME+EM and Second Home. The Company has also begun the process of realising value from its investments, offering investors the potential to benefit from any sales and reinvestment within the B Ordinary Share portfolio. It is expected that the new share offer will be available for subscription from November 2016. 

Regulatory changes introduced in November 2015 restrict the types of companies that VCTs can invest in.  However, Pembroke's continued focus on providing development capital to promising growth opportunities rather than management buy-out transactions leaves its strategy unchanged.

Subscription for new B Ordinary Shares in the Company will provide investors with access to an effective investment strategy focused on a carefully selected portfolio of apparel, leisure, hospitality and technology investments, replicating the existing approach of the Company, whilst benefiting from the tax benefits available to investors in VCTs.

For further information, please contact:

Pembroke VCT plc

+44 20 7766 6900

Peter Dubens

Oakley Investment Managers LLP (Manager)

+44 20 7766 6900

Andrew Wolfson / Simon Male

The City Partnership (UK) Limited (Company Secretary)

+44 131 243 7215

Doreen Nic

Cornerstone Communications

+44 07917 080 365

Richard Acworth

This information is provided by RNS

The company news service from the London Stock Exchange

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