⌘K
t
The boards of Mobeus Income & Growth VCT plc, Mobeus Income & Growth 2 VCT plc, Mobeus Income & Growth 4 VCT plc, and The Income & Growth VCT plc (the Companies) announced on 15 August 2022 their intention to raise funds via new offers for subscription, with maximum offer sizes ranging from £8 million to £14 million, each with an additional over-allotment facility of £5 million to £8 million. To seek shareholder allotment authorities and authority to cancel share premium accounts and redemption reserves, the Companies posted a joint circular to shareholders on 14 September 2022, convening general meetings for 12 October 2022.
| Date | 14 Sept 2022 |
| Time | 15:00:04 |
| Category | Miscellaneous |
| ID | 3178Z |
Mobeus Income & Growth VCT plc (MIG) - LEI: 213800HKOSEVWS7YPH79
Mobeus Income & Growth 2 VCT plc (MIG 2) - LEI: 213800LY62XLI1B4VX35
Mobeus Income & Growth 4 VCT plc (MIG 4) - LEI: 213800IFNJ65R8AQW943
The Income & Growth VCT plc (I&G) - LEI: 213800FPC15FNM74YD92
(together the Companies and each a Company)
Joint Announcement - Fundraising Update, Circular and General Meetings
On 15 August 2022, the boards of directors of the Companies (Boards) each announced their intention to raise further funds through new offers for subscription (Offers). It is anticipated that the prospectus in relation to the Offers will be available in early October. The maximum amount each Board will be seeking to raise is set out below:
|
|
MIG |
MIG 2 |
MIG 4 |
I&G |
|
Offer size |
£14 million (with an over-allotment facility of £8 million) |
£8 million (with an over-allotment facility of £8 million) |
£11 million (with an over-allotment facility of £5 million) |
£14 million (with an over-allotment facility of £8 million) |
As the Companies currently have limited authority from shareholders of the Companies to allot (having disapplied pre-emption rights) shares for the purposes of the proposed Offers, each Company has convened a general meeting to seek additional shareholder allotment authorities. Each Company is also taking the opportunity to take authority from its shareholders to cancel its share premium account and redemption reserve.
A joint circular (Circular) issued by the Companies has been posted to shareholders today to convene the general meetings (General Meetings and each a General Meeting) to be held on 12 October 2022 at the offices of Gresham House Asset Management Limited, 80 Cheapside, London EC2V 6EE as follows:
· MIG General Meeting to be held at 11.00 a.m.
· MIG 2 General Meeting to be held at 11.30 a.m.
· MIG 4 General Meeting to be held at noon
· I&G General Meeting to be held at 12.30 p.m.
Copies of the Circular will shortly be available for download from the Company's relevant websites:
· MIG: www.migvct.co.uk
· MIG 2: www.mig2vct.co.uk
· MIG 4: www.mig4vct.co.uk
· I&G: www.theincomeandgrowthvct.co.uk
and through the national storage mechanism: https://data.fca.org.uk/#/nsm/nationalstoragemechanism
For further information, please contact:
Gresham House Asset Management Limited
Company Secretary
Telephone: 020 7382 0999