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On 5 September 2025, Triple Point Venture VCT PLC announced the publication of a prospectus, approved by the Financial Conduct Authority, for an offer of venture ordinary shares to raise £10 million, which may increase to £30 million. The Offer opened on this date and is expected to close on 31 July 2026. The Company's fund manager, Triple Point Investment Management LLP, will receive a Promoter Fee of up to 5.5% of accepted applications for venture shares.
| Date | 5 Sept 2025 |
| Time | 12:30:00 |
| Category | Capital structure |
| ID | 2502Y |
5 September 2025
Triple Point Venture VCT plc
(the "Company")
PUBLICATION OF PROSPECTUS
The Board of Triple Point Venture VCT plc is pleased to announce that the Company has issued a prospectus (the "Prospectus") relating to an offer for venture ordinary shares to raise £10 million (the "Offer")*, following approval of the Prospectus from the Financial Conduct Authority.
*If the Offer is oversubscribed it may be increased to £30 million at the discretion of the directors of the Company.
Pursuant to the Offer, the Company's fund manager, Triple Point Investment Management LLP ("TPIM"), will enter into an agreement with the Company (the "Offer Agreement"), which will constitute a related party transaction as defined by the UK Listing Rules as it is an agreement between the Company and its fund manager, falling within UK Listing Rule 8.2.1R.
Pursuant to the Offer Agreement, TPIM, as promoter of the Offer, will be paid (the "Promoter Fee") up to an amount equal to 5.5% of the aggregate value of accepted applications for Venture Shares under the Offer, out of which TPIM will discharge all external costs, including initial commissions, and its own costs, in respect of the Offer, but excluding any initial and ongoing charges agreed between an authorised financial adviser and an investor.
The board of the Company believes that the above arrangements are fair and reasonable as far as the shareholders of the Company are concerned and have been so advised by Howard Kennedy Corporate Services LLP, as sponsor to the Company.
The Offer is now open and is expected to close on 31 July 2026 unless fully subscribed at an earlier date. A copy of the Prospectus will shortly be submitted to the National Storage Mechanism located at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism and may be viewed on the Triple Point website at: www.triplepoint.co.uk.
FOR FURTHER INFORMATION ON THE COMPANY, PLEASE CONTACT:
|
Triple Point Investment Management LLP |
Tel: 020 7201 8989 |
|
Seb Wallace Jack Rose |
|
The Company's LEI is 213800AOOAQA5XQDEA89
Further information on the Company can be found on its website
https://www.triplepoint.co.uk/current-vcts/triple-point-venture-vct-plc/s2539/
NOTES:
The Company is a Venture Capital Trust incorporated in July 2010 and was established to fund small and medium sized enterprises. The Investment Manager is Triple Point Investment Management LLP.