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PXN Growth VCT plc published a prospectus for an offer to subscribe for up to £10 million of ordinary shares, with an over-allotment facility for up to a further £10 million, which opened on 12 October 2026. The Company also published a Circular incorporating a notice for a General Meeting to be held at 10 a.m. on 11 November 2026. At this meeting, shareholders will vote on approving a fee of up to 5% of aggregate accepted application amounts payable to PXN Asset Management Limited for promoting the Offer, a condition for the Offer.
| Date | 12 Oct 2026 |
| Time | 13:19:46 |
| Category | Capital structure |
| ID | 6043Y |
PXN Growth VCT plc (the "Company")
Publication of Prospectus and Circular
LEI: 9845004ZDC57AB064B97
Prospectus
A prospectus relating to an offer for subscription of up to £10 million of ordinary shares of £0.01 each, together with an over-allotment facility for up to a further £10 million of ordinary shares (the "Offer"), has today been published by the Company, following FCA approval.
The Offer will open today, 12 October 2026, and is expected to close not later than 3.00 p.m. on 1 April 2027, for shares to be allotted in the 2026/2027 tax year, and at 3.00 p.m. on 24 September 2027, for shares to be allotted in the 2027/2028 tax year.
Circular and General Meeting
A Circular incorporating a notice of general meeting to be held at 10 a.m. on 11 November 2026 (the "General Meeting") has today also been published, following FCA approval, and will be dispatched to shareholders shorty.
Pursuant to an agreement dated 12 October 2026 relating to the Offer, between the Company and the Company's investment manager PXN Asset Management Limited ("PAML"), PAML will charge the Company an initial fee for its role in promoting the Offer of up to a maximum of 5% of aggregate accepted application amounts, in each case less any discounts for early bird investment, existing shareholders or where a lower fee has been agreed by PAML.
PAML is the Company's investment manager, being a related party of the Company under the UK Listing Rules. The transaction providing for the payment of the above fee by the Company to PAML is therefore a relevant related party transaction to which UKLR 11.5.5 applies. Accordingly, the Offer is conditional on shareholders passing a resolution approving the payment of the above fee at the General Meeting.
The Prospectus and Circular will shortly be available for inspection at the National Storage Mechanism, which is located at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's website at www.pxninvestments.co.uk.
For further information, please contact:
PXN Group Ltd
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Jon Prescott
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