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Puma VCT 13 plc published a prospectus dated 24 September 2025, approved by the Financial Conduct Authority, for an offer to subscribe for ordinary shares of £0.0005 each. This offer aims to raise up to £50 million, with a potential £20 million over-allotment, and is open from 24 September 2025, expected to close by 2 April 2026 for the 2025/26 tax year. Puma Investment Management Limited, a related party, will receive a promoter fee of up to 3% of the aggregate amount raised under the offer.
| Date | 24 Sept 2025 |
| Time | 11:25:24 |
| Category | Capital structure |
| ID | 6533A |
Puma VCT 13 plc (the "Company")
24 September 2025
Publication of Prospectus
The Company has issued a prospectus dated 24 September 2025 relating to a proposed offer for subscription for ordinary shares of £0.0005 each in the Company to raise up to £50 million with an over-allotment of up to a further £20 million (the "Offer"), following approval from the Financial Conduct Authority.
The Offer is now open and is expected to close no later than 2 April 2026 for shares to be allotted in the 2025/26 tax year and, if the Offer is extended beyond that date by the directors, no later than 11 September 2026 for shares to be allotted in the 2026/27 tax year (unless fully subscribed by an earlier date or previously extended by the directors to no later than 16 September 2026).
Pursuant to an offer agreement dated 24 September 2025 relating to the Offer between, among others, the Company and Puma Investment Management Limited ("PIML"), PIML, as the promoter of the Offer, will receive a promoter fee of up to 3% of the aggregate amount received by the Company under the Offer. PIML, as the investment manager of the Company, is a related party of the Company under UK Listing Rule 11.5.4R, and the payment of such a fee by the Company to PIML is a relevant related party transaction of an adequate size under UK Listing Rule 11.5.4R for UK Listing Rule 8.2.1R to apply. The Board considers this transaction fair and reasonable as far as the shareholders of the Company are concerned and have been provided with written confirmation of this by the Company's sponsor, Howard Kennedy Corporate Services LLP.
A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Copies of the Prospectus are also available free of charge from the office of the Company's investment manager, Puma Investment Management Limited, Cassini House, 57 St James's Street, London SW1A 1LD.
For further information please contact Rupert West on 0207 408 4050.