The
Income & Growth VCT plc
LEI: 213800FPC15FNM74YD92
Offer for Subscription - Update
On 18 June 2024 Mobeus Income &
Growth VCT plc (MIG), and
The Income & Growth VCT plc (I&G) launched new offers for
subscription (together the Offers and each an Offer) subject to and conditional on,
the merger of Mobeus Income & Growth 2 VCT plc (MIG 2) with MIG and Mobeus Income &
Growth 4 VCT plc (MIG 4)
with I&G (Merger) being
implemented. The Offers were contained in a prospectus issued by
MIG and I&G on 18 June 2024.
The Merger was implemented on
26 July 2024 and the I&G Offer opened for applications at 9.00
a.m. on 2 September 2024.
The I&G Offer seeks to raise up
to £35 million (Initial
Amount), with an over-allotment facility to raise up to a
further £10 million (Over-Allotment
Facility).
The I&G Board is pleased to
announce that applications have been received for over 80% of the
Offers. Based on the investor appetite, the Initial Amount is
likely to be fully subscribed shortly. The first
allotment of shares in respect of applications accepted by the
Company is planned for 1 October 2024 with cleared funds received
on 24 September 2024.
In light of the above, the I&G
Board is pleased to further announce that it has decided to make
the Over-Allotment Facility available in full.
The Board also advises that the
scheduled 7 November 2024 allotment (as detailed in the Prospectus)
will be brought forward to 28 October 2024 with cleared funds
to be received by 21 October 2024. It is also likely that an
additional allotment may take place during the week commencing 16
December 2024, subject to the fundraise not filling beforehand in
which case the Offer will close earlier and an additional allotment
will take place.
For further information, please
contact:
Gresham House Asset Management
Limited Company Secretary
Telephone: +44 (0)20 7382
0999
Please note that I&G and Gresham
House cannot give any financial, legal, tax or investment
advice.