16th Feb 2005 17:04
Elderstreet VCT PLC16 February 2005 Elderstreet VCT plc16 February 2005 Offer for Subscription of up to 15,000,000 'C' Shares Elderstreet VCT plc ('the Company') is pleased to announce that it has publisheda prospectus in connection with an offer for subscription of up to 15,000,000'C' Shares of 5 pence each in the Company at 100p per share to raise up to amaximum of £15 million before expenses (the 'Offer for Subscription'). The expected timetable and the offer statistics for the Offer for Subscriptionare set out below. EXPECTED TIMETABLE Offers for Subscription Open 15 February 2005Deadline for receipt of existing shareholders' applications if toreceive preferential allocation 10.00 a.m. on 10 March 2005Deadline for receipt of applications for the 2004/2005 Offer 10.00 a.m. on 4 April 2005Dealings expected to commence 5 April 2005Deadline for receipt of applications for the 2005/2006 Offer 10.00 a.m. on 27 May 2005Dealings expected to commence 31 May 2005 In relation to the 2004/2005 Offer, the Directors reserve the right to make anearly allotment of 'C' Shares subject to the aggregate minimum subscription of£500,000 under the Offers having been achieved, on any day, at the Directors'absolute discretion from 15 February 2005 until 5 April 2005. If an earlyallotment of 'C' Shares is made, the Company will make a Regulatory InformationService announcement. The Offers will lapse if the minimum subscription is notachieved by 5 April 2005. Each deadline for receipt of applications is subject to the relevant Offer notbeing fully subscribed by an earlier date. Dealings are expected to commence,and shares be issued, on the business day following the first allotment. Sharecertificates are expected to be despatched and CREST accounts credited, within15 business days after the relevant date on which dealings commence. OFFER STATISTICSOffer price per 'C' Share 100pInitial Net Asset Value per 'C' Share 95pMaximum number of 'C' Shares in issue following the Offers 15 millionMinimum number of 'C' Shares in issue following the Offers 500,000Offer costs as a percentage of the gross proceeds of the Offers 5%Maximum net proceeds of the gross proceeds of the Offers £14.25 millionMinimum net proceeds of the Offers £475,000Minimum individual investment £3,000* *and above that minimum, in multiples of £1,000 Copies of the prospectus have been submitted to the Financial Services Authorityand will shortly be available for inspection at the FSA's Document ViewingFacility, which is situated at: The Financial Services Authority25 The North ColonnadeCanary WharfLondonEH14 5HS Further information please contact: Christian ElmesTel: 0207 612 8776Email: [email protected] & Williamson Investment ManagementNo. 1 Riding House StreetLondon W1A 3AS This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
DEVC.L