21st Jul 2014 11:24
LONDON (Alliance News) - Pembroke VCT PLC Monday proposed a new B share issue of up to GBP25.0 million, with an over-allotment facility of up to GBP10 million.
In a statement, the VCT said that the B shares would be a separate class of share, distinct from the existing ordinary shares, and with distinct rights to a separate pool of assets and liabilities. It expects the new offer to be available for subscription from September.
Subscription for the new B shares will give participants access to a private equity type investment strategy, replicating the company's existing approach.
The proposals are conditional on shareholder approval.
By Samuel Agini; [email protected]; @samuelagini
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