DDV1 Downing One Vct Plc

 
TIDMDDV1 
 
   Downing ONE VCT plc ("the Company") 
 
   LEI: 213800R88MRC4Y3OIW86 
 
   11 September 2020 
 
   Publication of Prospectus 
 
   The Company has today issued a prospectus relating to an offer for 
subscription for ordinary shares of 1p each in the Company ("New 
Shares") to raise up to GBP15 million (the "Offer") (equivalent to 
approximately 24,232,633 Shares), following the approval of the 
prospectus from the Financial Conduct Authority. The Offer also includes 
an overallotment facility to issue up to a further GBP25 million worth 
of New Shares. The maximum number of shares that may be allotted under 
the Offer is 64,620,355. 
 
   Pursuant to an agreement dated 11 September 2020 relating to the Offer, 
between the Company and Downing LLP (the "Investment Adviser"), the 
Company's investment adviser, and which constitutes a smaller related 
party transaction within Listing Rule 11.1.10 R, the Investment Adviser 
will receive: 
 
 
   -- in respect of advised investors, a one-off fee of 2.5% of the monies 
      subscribed under the Offer 
 
 
   -- in respect of non-advised investors, a one-off fee of 4.5% of the monies 
      subscribed under the Offer, and 
 
   -- an annual trail fee of 0.25% of the Net Asset Value of the New Shares for 
      a maximum of five years following the investment. 
 
 
   The Offer is now open and will close at 3:00 pm on 1 April 2021 for the 
2020/2021 tax year and 3:00 pm on 30 April 2021 for the 2021/2022 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 31 August 2021). 
 
   The Prospectus has been approved by the Financial Conduct Authority and 
will shortly be available to view at the online viewing facility of the 
National Storage Mechanism at the following website address: 
https://www.globenewswire.com/Tracker?data=jlj_ids_ysECg6shstTIUynvQ1thgDJ88sdMxWZ0jYuGjrEig6tR0zIHC2ewYCUdjcRXutf7yscngKzONkGqOp8q_vUPBjRW4S-X8jIfgFUnP4AK7NGnsNCqlsAvj3vB--CjRoU3x_0_uOznWHrP_YWF0Pkqt7McjP8ELGp1xX0= 
data.fca.org.uk/#/nsm/nationalstoragemechanism 
 
   Copies of the Prospectus are available, free of charge from the 
Company's registered office, St. Magnus House, 3 Lower Thames Street, 
London EC3R 6HD and on Downing's website at 
www.downing.co.uk/assets/d1-prospectus 
 
 
 
 

(END) Dow Jones Newswires

September 11, 2020 12:03 ET (16:03 GMT)

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