LONDON – Puma (OTC:) Alpha VCT PLC (“the Company”) has announced the launch of a new share subscription offer, opening today, with the potential to raise up to £15 million by offering ordinary shares at £0.01 each. The offer also includes an over-allotment facility that could see an additional £5 million in shares made available.
This offer, as detailed in the prospectus issued on January 15, 2025, is set to close no later than April 5, 2025, for shares to be allotted within the 2024/25 tax year. However, the directors may extend the offer until December 12, 2025, for allotments in the 2025/26 tax year, unless the subscription is fully met earlier or a further extension is applied to a latest date of December 16, 2025.
Puma Investment Management Limited (PIML), acting as the promoter and investment manager for the Company, will receive a promoter fee up to 3% of the total amount raised through this offer. This arrangement constitutes a related party transaction under UK Listing Rule 11.5.4R due to PIML’s existing relationship with the Company. The Board has deemed this transaction to be fair and reasonable to shareholders, as confirmed by the Company’s sponsor, Howard Kennedy Corporate Services LLP.
The prospectus is available for review in the National Storage Mechanism and can be accessed online. Interested parties can also obtain copies free of charge from Puma Investment Management Limited’s office in London.
The Company’s decision to open this offer aligns with its strategic financial initiatives, providing investors with an opportunity to participate in the Company’s growth while potentially benefiting from tax incentives associated with the 2024/25 and 2025/26 tax years.
This news is based on a press release statement from Puma Alpha VCT PLC.
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