9 September 2024
Pembroke VCT
plc
Publication of Prospectus
Pembroke VCT plc (the "Company") has
today published a prospectus (the "Prospectus") in relation to the
offer for subscription of up to £40 million of B Ordinary Shares of
1p each in the capital of the Company with an over-allotment
facility for up to a further £20 million of B Ordinary Shares (the
"Offer").
The deadline for the receipt of
applications is 12 noon on 4
April 2025 in respect of the 2024/2025 tax year
and 3.00 p.m. on 27 June 2025 in respect of the 2025/2026 tax year,
or as soon as the Offer is fully subscribed. The closing date of
the Offer, and the deadline for receipt of applications for the
final allotment with respect to the 2025/2026 tax year, may be
extended by the Directors at their absolute discretion to a date no
later than 3 September 2025.
An application has been made for the
admission of the further B Ordinary Shares to be issued under the
Offer to a listing on the FCA's Official List and to trading on the
main market of the London Stock Exchange. It is expected that new B
Ordinary Shares will be issued throughout the period of the Offer
until it closes.
Pursuant to an offer agreement dated
9 September 2024 relating to the Offer between, among others, the
Company and Pembroke Investment Managers LLP ("PIM"), PIM, as
promoter of the Offer, will receive a fee calculated on the value
of each application for B Ordinary Shares under the Offer accepted
by the Company as follows:
(i) 5.0% 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,
or such lower percentage in each
case as may be agreed by the Company and PIM.
As PIM is the Company's investment
manager, PIM is a related party of the Company under the UK Listing
Rules and the payment of the above fee by the Company to PIM is a
related party transaction falling within UK Listing Rule
8.2.1R.
A copy of the Prospectus is
available, free of charge, from the registered office of the
Company at 3 Cadogan Gate, London, SW1X 0AS.
A copy of the Prospectus will be
submitted to the National Storage Mechanism and will shortly be
available for viewing online at the following website:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For
further information, please contact:
Andrew Wolfson / Chris
Lewis
Pembroke Investment Managers LLP
(Manager)
+44 20 7766 6900
Robin Smeaton
The City Partnership (UK) Limited
(Company Secretary)
enquiries@city.uk.com
Keith Lassman
Howard Kennedy Corporate Services
LLP
keith.lassman@howardkennedy.com
Seven Hills
Leigh Marshall
M: +44 7388
003595
E: pembroke@wearesevenhills.com