In This Article:
NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, IN WHOLE OR IN PART, DIRECTLY OR INDIRECTLY, IN OR INTO, AUSTRALIA, CANADA, JAPAN, THE REPUBLIC OF SOUTH AFRICA, THE UNITED STATES OR ANY MEMBER STATE OF THE EEA (OTHER THAN ANY MEMBER STATE OF THE EEA WHERE THE COMPANY'S SECURITIES MAY BE LEGALLY MARKETED), OR ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS ANNOUNCEMENT. THE INFORMATION CONTAINED HEREIN DOES NOT CONSTITUTE OR FORM PART OF ANY OFFER TO ISSUE OR SELL, OR ANY SOLICITATION OF ANY OFFER TO SUBSCRIBE OR PURCHASE, ANY INVESTMENTS IN ANY JURISDICTION.
1 April 2025
HARGREAVE HALE AIM VCT PLC
(the “Company”)
Allotment of Shares
The Board announced on 9 October 2024 that the Company had published a prospectus (the “Prospectus") and had published a supplementary prospectus (the “Supplementary Prospectus”) on 20 December 2024 in relation to an offer for subscription of ordinary shares of 1p each (the "Ordinary Shares"), to raise up to £20,000,000 (the "Offer"). On 1 April 2025, the Company allotted 5,157,528 new Ordinary Shares pursuant to the Offer conditional only on Admission (the timetable for which is set out in more detail below).
The offer price at which the 5,157,528 new Ordinary Shares were allotted was 36.35 pence per Ordinary Share, which was calculated, in accordance with the terms of the Offer, by reference to the net asset value of an Ordinary Share on 28 March 2025 (as announced on 31 March 2025, being the last published net asset value per Ordinary Share) divided by 0.965 (to allow for the costs of the Offer).
Application will shortly be made for the 5,157,528 new Ordinary Shares to be admitted to the premium segment of the Official List of the Financial Conduct Authority and to trading on the premium segment of London Stock Exchange plc’s main market for listed securities ("Admission"). It is expected that Admission will occur and dealing will commence in the new Ordinary Shares on or around 4 April 2025. When issued, the new Ordinary Shares will rank pari passu with the existing Ordinary Shares.
As a Person Discharging Managerial Responsibility, Oliver Bedford, a director of the Company, was allotted 69,462 Ordinary Shares at 36.35 pence per share and his total holdings including his Persons Closely Associated, is now 388,695 Ordinary Shares representing 0.10% of the Company’s issued Ordinary share capital.
As a result of the issue, the total number of Ordinary Shares in issue will be 372,768,462 with each Ordinary Share carrying one vote each. Therefore, the total voting rights in the Company will be 372,768,462. This figure may be used by shareholders in the Company as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the share capital of the Company under the Disclosure Guidance and Transparency Rules.