TIDMFTV 
 
 
   FORESIGHT VCT PLC (Company) 
 
   Net Asset Value and Offer Update 
 
   The Board and Foresight Group LLP, the manager of the Company, (Manager) 
have been continually monitoring the ongoing disruption being caused by 
the Coronavirus (Covid-19) pandemic and, in particular, the ongoing 
impact on portfolio companies. 
 
   In light of the above, the Board announces that the unaudited NAV per 
share as at 27 March 2020 was 66.5p (a reduction of 14.1% from the 
unaudited NAV per share of 77.4p as at 31 December 2019, which was used 
for the prior allotment of shares pursuant to the Offer referred to 
below). The updated NAV per Share as at 27 March 2020 reflects valuation 
reductions generally across the investments in the portfolio as a result 
of the market volatility arising from the impact of the Coronavirus 
pandemic affecting all businesses including those in which the Company 
invests. For the purposes of calculating the unaudited net asset value 
per share, the venture capital investments (which are all unquoted) are 
carried at fair value as at 27 March 2020, as determined by the Board on 
the advice of the Manager. 
 
   The Company currently has open an offer for subscription to raise up to 
GBP20 million, with an over-allotment facility to raise up to a further 
GBP5 million, (Offer) contained in the prospectus published by the 
Company on 28 January 2020 (Prospectus). The Board announced utilisation 
of the over-allotment facility on 13 March 2020. 
 
   The updated unaudited NAV per share referred to above represents a new 
significant factor in connection with the Offer and the Prospectus (a 
reduction of 13.3% from the unaudited NAV per share of 76.7p as at 30 
September 2019, this being the latest unaudited published NAV per Share 
as at the date of the Prospectus). The Company intends, subject to 
approval by the Financial Conduct Authority, to publish a supplementary 
prospectus (Supplementary Prospectus) detailing the publication of the 
updated unaudited NAV per share shortly. 
 
   Following publication of the Supplementary Prospectus, investors who 
have already submitted application forms for new shares under the Offer 
will have a period of two working days in which they may withdraw such 
applications, should they wish to do so (as required under section 
87Q(4)--(6) of the Financial Services and Markets Act 2000 (as amended). 
Further details of this right, including the deadline for withdrawal, 
will be contained in the Supplementary Prospectus which will be 
available from the Manager's website at www.foresightgroup.eu. 
 
   The updated NAV per share referred to above is also intended to be used 
for the purposes of calculating the number of shares to be issued to 
applicants under the Offer in respect of 2019/2020 tax year-end 
applications. The Board will, together with the Manager, however, 
continue to keep this under review and will publish further updated NAVs 
per share (in particular for the purposes of an allotment of shares 
under the Offer if required). 
 
   For further information, please contact: 
 
   Company Secretary 
 
   Foresight Group LLP 
 
   Contact: Gary Fraser Tel: 0203 667 8100 
 
   Investor Relations 
 
   Foresight Group LLP 
 
   Contact: Ellie Kakoulli Tel: 0203 667 8181 
 
 
 
 

(END) Dow Jones Newswires

March 27, 2020 13:46 ET (17:46 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.
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