Seneca Growth Capital VCT Plc (the
"Company")
12
September 2024
SENECA GROWTH CAPITAL VCT
PLC
(the
"Company")
Offer for Subscription and
Publication of Prospectus
Seneca Growth Capital VCT Plc (LSE:
SVCT) is pleased to announce that it has published a prospectus in
relation to an offer for subscription for B ordinary shares of 1p
each in the Company to raise, in aggregate, up to £5 million with
an over-allotment facility of up to a further £5 million (before
issue costs) (the "Offer").
The Offer will open on 12 September
2024 and is expected to close no later than 5.00 p.m. on 4 April
2025 in relation to the tax year 2024/25 and will close at 5.00
p.m. on 8 August 2025 in relation to the tax year 2025/26 (unless,
in either case, the Offer has been fully subscribed before these
dates or closed earlier at the discretion of the
Directors).
Pursuant to an Offer Agreement dated
11 September 2024 relating to the Offer between, among others, the
Company and Seneca Partners Limited ("SPL"), the investment manager
of the Company, SPL as the promoter of the Offer will receive a
promoter fee calculated on the value of each application for B
Ordinary Shares under the Offer accepted by the Company as
follows:
(i) 5.5% for
investors who have invested directly into the Company or invested
through an intermediary/platform and have not received
advice;
(ii) 3.0% for investors
who have invested in the Offer through an intermediary and have
received upfront advice including investors who are investing
through intermediaries/advisers using financial
platforms,
less the 1% Early Investment
Incentive, the 1% Loyalty Investment Incentive and the 1.5% Direct
Applicant Discount where applicable or such lower percentage in
each case as may be agreed by the Company and SPL.
As SPL is a related party of the
Company under the Listing Rules, the payment of a promoter fee by
the Company to SPL, is a transaction to which UK Listing
Rule 11.5.7R applies.
To obtain a copy of the Prospectus,
free of charge, private investors and financial advisers should
contact Seneca Partners Limited on 01942 271 746 or at 9 The Parks,
Haydock WA12 0JQ. A downloadable version of the prospectus will
also be available from the Company's website:
https://senecavct.co.uk/current-offer/.
A copy of the Prospectus will shortly be provided to all
shareholders of the Company, depending on their expressed
communication preferences.
The Prospectus has been approved by
the Financial Conduct Authority and will shortly be available to
view at the online viewing facility of the National Storage
Mechanism at the following website address:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information,
please contact:
Richard
Manley, Seneca Growth Capital VCT Plc at richard.manley@senecapartners.co.uk
Siobhan
Pycroft, Seneca Partners Limited at siobhan.pycroft@senecapartners.co.uk