31st Mar 2005 07:01
Elderstreet VCT PLC30 March 2005 Elderstreet VCT PLC ("Elderstreet" or "the Company")Offer for subscription of "C" Shares ("the Offer") The Directors of Elderstreet are pleased to announce that, pursuant to the Offerfor Subscription as described in the prospectus issued by the Company on 15February 2005, applications have been received for in excess of the minimumaggregate subscription level of 500,000 ordinary shares of 5 pence each. On 30March 2005, the Directors resolved to issue and allot 586,403 ordinary shares of5 pence each, conditional only on admission ("Admission") of these "C" shares tothe Official List of the UK Listing Authority and to trading on the main marketof the London Stock Exchange, with the remaining ordinary shares to be issuedand allotted before the end of the 2004/2005 tax year or during the 2005/2006tax year. It is expected that Admission will take place at 8.00 am on 5 April 2005. TheOffer Price at which the "C" shares were issued and allotted was £1.00 per "C"share. Dealings in the "C" shares are expected to commence on 5 April 2005 anddefinitive documents of title are expected to be dispatched within 10 businessdays of allotment. The Offer is expected to remain open until 27 May 2005. The Directors also announce that, included within the above, are the followingallotments to Directors and connected parties: Michael Jackson, a Director, was allotted 200,000 'C' Shares in the Company at aprice of £1 per share representing 39.1 per cent. of the issued 'C' sharecapital. Following this allotment he controls 2.3% of the total voting rightsof the Company. Barnaby Terry, an executive of the Investment Manager, Elderstreet PrivateEquity Limited, has been was allotted 25,000 'C' Shares in the Company at aprice of £1 per share representing 4.9% per cent. of the issued 'C' sharecapital. Following this allotment he controls 0.2% of the total voting rightsof the Company. Paul Frew, an executive of the Investment Manager, Elderstreet Private EquityLimited, has been was allotted 25,000 'C' Shares in the Company at a price of £1per share representing 4.9% per cent. of the issued 'C' share capital. Followingthis allotment he controls 0.2% of the total voting rights of the Company. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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