28th Aug 2019 14:27
(Alliance News) - Amati AIM VCT PLC on Wednesday said it has been discussing the size and structure of the proposed offer for subscription and has decided to raise GBP25 million over a 12 month period.
The investment company said directors will have discretion to utilise an over-allotment facility of up to GBP20 million, either in whole or in part. This facility will only be utilised if the directors are satisfied that there is a suitable pipeline of investments to deploy the extra funds and if there is sufficient demand from investors, the company noted.
Amati said provision is being made for up to a further GBP5 million to be raised from its dividend re-investment scheme over the course of the proposed subscription offer.
In order to ensure the efficient deployment of funds and to provide the company with greater flexibility, it said the amount to be raised under the offer prior to Amati's year-end on January 31, will be capped at GBP15 million.
Amati shares were trading 0.3% lower on Wednesday in London at 137.07 pence each.
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