PAV Pennine Aim Vct

RNS Number:3394L
Pennine AIM VCT PLC
31 October 2006

Pennine AIM VCT plc

Proposed D share offers

Pennine AIM VCT plc (the "Company") is pleased to announce that it intends to
seek further funds for investment by means of two offers of D shares (the
"Offers").

As at 31 July 2006, the Company had net assets of approximately #9.8 million, of
which less than #300,000 was in cash. The Company is, therefore, virtually fully
invested and is seeking to raise up to #15 million under the Offers for further
investment.

The two Offers will comprise an offer for subscription of D shares in respect of
the 2006/07 tax year and an offer for subscription in respect of the 2007/08 tax
year. The Offers are expected to be launched in December 2006.

It is anticipated that the D share funds will be kept segregated from the
existing funds of the Company whilst they are being invested and that they will
not be amalgamated with the existing funds until after five years from the close
of the Offers. The Offers will be conditional upon shareholders passing the
necessary resolutions at an extraordinary general meeting of the Company and
will be made on the terms of the prospectus to be issued by the Company.

A circular will be issued to the Company's shareholders shortly containing
further details of the proposed D share issues and seeking authority at an
extraordinary general meeting of the Company to create and issue the D shares.


                      This information is provided by RNS
            The company news service from the London Stock Exchange
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