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Molten Ventures VCT PLC issued an offer document on 11 October 2024 for an offer for subscription of ordinary shares to raise up to a maximum of £6.7 million. The offer opened at 12:00 noon on 11 October 2024 and will close at 10:00 a.m. on 3 April 2025 for the 2024/2025 tax year, and 4:00 p.m. on 28 June 2025 for the 2025/2026 tax year. The Board and Elderstreet Investments Limited agreed on early investment incentives, offering discounts from 1.25% for applications by 31 October 2024 down to 0.25% by 28 February 2025.
| Date | 11 Oct 2024 |
| Time | 12:20:24 |
| Category | Miscellaneous |
| ID | 9206H |
Molten Ventures VCT plc (the "Company")
LEI: 2138003I9Q1QPDSQ9Z97
11 October 2024
Offer for Subscription
The Company has today issued an offer document (the "Offer Document") relating to an offer for subscription for ordinary shares of 5p each in the Company to raise up to a maximum of £6.7 million (the "Offer").
Early Investment Incentives
In recognition of the increased rates of interest available on cash balances held pending allotment, the Board and the Elderstreet Investments Limited have agreed an enhanced early investment incentive structure aimed at encouraging early subscriptions and ensuring that the benefit of bank interest, which would otherwise be foregone by the investor, is partially enjoyed by early investors through the application of an enhanced discount.
For valid applications received and accepted with cleared funds received by the receiving agent on or before the dates set out below, the relevant discount set out below will be applied to the applicant's Offer costs through the Offer's pricing formula:
|
31 October 2024 |
1.25% |
|
30 November 2024 |
1.00% |
|
31 December 2024 |
0.75% |
|
31 January 2025 |
0.50% |
|
28 February 2025 |
0.25% |
|
Applications received from 1 March 2025 onwards will not attract any discount. |
|
Offer opening and closing dates
The Offer will open at 12.00 noon on 11 October 2024 and will close at 10.00 a.m. on 3 April 2025 for the 2024/2025 tax year and 4.00 p.m. on 28 June 2025 for the 2025/2026 tax year, or earlier if the Offer is fully subscribed.
Copies of the Offer Document will shortly be available for download from the Company's website, https://investors.moltenventures.com/investor-relations/vct.
11 October 2024