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Mobeus Income & Growth VCT plc and The Income & Growth VCT plc launched new offers for subscription on 10 June 2024, aiming to raise an aggregate of up to £70 million, with over-allotment facilities for up to an additional £10 million. Following merger approval on 26 July 2024, these offers are now open for applications and will close on 26 March 2025 at 5:00 p.m.
| Date | 2 Sept 2024 |
| Time | 15:15:00 |
| Category | Miscellaneous |
| ID | 5787C |
Mobeus Income & Growth VCT plc LEI: 213800HKOSEVWS7YPH79
The Income & Growth VCT plc LEI: 213800FPC15FNM74YD92
Offers for Subscription - Offers Now Open for Applications
This announcement is made jointly by Mobeus Income & Growth VCT plc (MIG) and The Income & Growth VCT plc (I&G) (together the Companiesand each a Company), which are advised by Gresham House Asset Management Limited (Gresham House).
On 10 June 2024, the Companies announced the launch of new offers for subscription to raise in aggregate, up to £70 million, with over-allotment facilities to raise, in aggregate, up to a further £10 million (together the Offers and each an Offer) in the amounts below:
Following approval of the merger on which the Offers were conditional on 26 July 2024, the Offers are now open for applications and will close (unless fully subscribed earlier or otherwise at the discretion of the relevant Board) at 5.00 p.m. on 26 March 2025. If a board decides (in consultation with Gresham House) to utilise its Company's over-allotment facility, this will be advised through an RIS announcement. Full details of the Offers are contained in the prospectus issued by the Companies on 18 July 2024 (Prospectus).
Investors can select which of the Companies they wish to invest in. Investors can apply to invest equally in both of the Companies or the full amount in one or the other of the Companies (subject to an Offer not having closed prior to the application form being processed). The amount subscribed under each Offer will be invested into new ordinary shares of 1p each in the relevant Company.
Applications under an Offer will be accepted on a 'first-come, first-served' basis, subject always to the discretion of the relevant Company's board of directors. For these purposes 'first-come, first-served' shall be assessed based on the date and time of receipt of a fully completed application, subject to receipt of application monies (in full) in cleared funds within five business days thereafter to retain the applicant's position of priority.
The Prospectus and Application Forms are available for download from: www.mobeusvcts.co.uk/vct-fundraising
For further information, please contact:
Gresham House Asset Management Limited Company Secretary
Telephone: +44 (0)20 7382 0999
Please note that the Mobeus VCTs and Gresham House cannot give any financial, legal, tax or investment advice.