Molten Ventures VCT plc Publication Of Prospectus
27 Octubre 2022 - 10:51AM
UK Regulatory
TIDMMVCT
Molten Ventures VCT plc ("the Company")
LEI: 2138003I9Q1QPDSQ9Z97
27 October 2022
Publication of Prospectus
The Company has today issued a prospectus (the "Prospectus")
relating to an offer for subscription for ordinary shares of 5p
each in the Company ("New Shares") to raise up to GBP30 million
(with an over-allotment facility of up to an additional GBP10
million) (the "Offer") following the approval of the Prospectus by
the Financial Conduct Authority. A maximum of up to 80 million
shares will be available under the Offer.
Promoter Agreement
Under the proposed Promoter Agreement, the Company will pay to
Elderstreet Investments Limited ("the Manager") a promoter's fee of
3.0% of the amount subscribed under the Offer through
intermediaries (3.5% direct). From this, the Manager will pay all
of the costs and expenses (save for commission and adviser charges
payable to intermediaries) of the Offer and will contribute to such
costs should they exceed the promoter's fee actually received. The
Promoter Agreement contains standard provisions indemnifying the
Manager against any liability not due to its default, gross
negligence, fraud or breach of FSMA.
Early investors may receive a 0.25% rebate from the promoter's
fee, which will be applied for additional New Shares through the
application of a pricing formula, where their Application Form is
received and accepted by the Company before midnight on 16 December
2022 and forms part of the first GBP10 million of gross
applications under the Offer.
Smaller Related Party transaction
The Manager is a related party of the Company. As such, this
transaction is a smaller related party transaction as defined in
LR11.1.10R. The Company has obtained written confirmation from its
sponsor, SPARK Advisory Partners Limited, that the terms of the
Promoter Agreement are fair and reasonable as far as the
shareholders of the Company are concerned.
The Offer will open on 27 October 2022 and will close at 10.00
a.m. on 5 April 2023 for the 2022/2023 tax year and 4.00 p.m. on 30
June 2023 for the 2023/2024 tax year, or earlier if the Offer is
fully subscribed. The board of the Company reserves the right to
close the Offer earlier or to extend the Offer to no later than 26
October 2023.
The Prospectus has been submitted to the Financial Conduct
Authority and copies of the Prospectus will shortly be available
for download from the Company's website
https://investors.moltenventures.com/investor-relations/vct, and
the Administration Manager's website at
https://www.downing.co.uk/existing-investor/molten-ventures-vct-plc
and from the National Storage Mechanism at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
(END) Dow Jones Newswires
October 27, 2022 11:51 ET (15:51 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
Draper Esprit Vct (LSE:DEVC)
Gráfica de Acción Histórica
De Abr 2024 a May 2024
Draper Esprit Vct (LSE:DEVC)
Gráfica de Acción Histórica
De May 2023 a May 2024