14th Nov 2019 14:45
(Alliance News) - Income & Growth VCT PLC on Thursday said it has decided to utilise the GBP5 million over-allotment facility in relation to a previously announced GBP5 million share subscription offer due to continuing strong investor demand.
The investment trust in October launched a GBP5 million share subscription offer in conjunction with Mobeus Income & Growth VCT PLC, Mobeus Income & Growth 2 VCT PLC and Mobeus Income & Growth 4 VCT PLC. In aggregate, the companies are seeking to raise of up to GBP38 million, with optional over-allotment facilities to raise up to a further GBP20 million.
Income & Growth VCT on Thursday said it has received subscription applications totalling in excess of GBP3.8 million, which amounts to more than 75% of the initial GBP5 million the company is seeking to raise under its subscription offer.
The over-allotment increases the maximum amount which can be raised under the subscription offer to GBP10 million.
Income & Growth VCT shares were untraded at 70.00 pence each in London on Thursday afternoon.
By Tapan Panchal; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Mobeus I&gMIG.LMIG4.LInc&gwth Vct