Foresight VCT PLC Foresight Vct Plc - Publication Of A Supplementary Prospectus
31 Marzo 2020 - 7:34AM
UK Regulatory
TIDMFTV
FORESIGHT VCT PLC (Company)
Publication of Supplementary Prospectus
The Company issued a prospectus dated 28 January 2020 (Prospectus)
relating to an offer for subscription to raise up to GBP20 million, with
an over-allotment facility to raise up to a further GBP5 million
(Offer). The Board announced utilisation of the over-allotment facility
on 13 March 2020.
On 27 March 2020 the Company published an unaudited NAV per Share of
66.5p as at 27 March 2020 (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 Offer Shares) reflecting valuation reductions generally
across the investments in the portfolio as a result of the market
volatility arising from the impact of the Coronavirus (Covid-19)
pandemic affecting all businesses including those in which the Company
invests (Updated NAV Announcement).
The updated unaudited NAV per share referred to above represents 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 updated NAV per share is a new
significant factor in connection with the Offer and the Prospectus and,
as a result, the Company has published a supplementary prospectus to the
Prospectus (Supplementary Prospectus).
Investors who have already submitted application forms for new shares
under the Offer have until 5.00 p.m. on 2 April 2020 by 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, is contained in the Supplementary Prospectus.
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 and 2020/2021 tax
year-end applications. The Board will, together with Foresight Group LLP,
the Company's 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).
A copy of the Supplementary Prospectus has been submitted to the
Financial Conduct Authority and will shortly be available for inspection
at the National Storage Mechanism, which is located at:
www.morningstar.co.uk/uk/nsm
Copies of this Supplementary Prospectus, together with the Prospectus,
are available from the Manager's website:
www.foresightgroup.eu
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 31, 2020 09:34 ET (13:34 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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