MOBEUS INCOME & GROWTH VCT PLC
LEI:
213800HKOSEVWS7YPH79
Offer for Subscription - Update
On 18 June 2024 Mobeus Income &
Growth VCT plc (MIG), and
The Income & Growth VCT plc (I&G) launched new offers for
subscription (together the Offers and each an Offer) subject to and conditional on,
the merger of Mobeus Income & Growth 2 VCT plc (MIG 2) with MIG and Mobeus Income &
Growth 4 VCT plc (MIG 4)
with I&G (Merger) being
implemented. The Offers were contained in a prospectus issued by
MIG and I&G on 18 June 2024.
The
Merger was implemented on 26 July 2024 and the MIG Offer opened for
applications at 9.00 a.m. on 2 September 2024.
The MIG Offer seeks to raise up to
£35 million (Initial
Amount), with an over-allotment facility to raise up to a
further £10 million (Over-Allotment
Facility).
The MIG Board is pleased to announce
that applications have been received for over 80% of the Offers.
Based on the investor appetite, the Initial Amount is likely
to be fully subscribed shortly. The first allotment of shares in
respect of applications accepted by the Company is planned for 1
October 2024 with cleared funds received on 24 September
2024.
In
light of the above, the MIG Board is pleased to further announce
that it has decided to make the Over-Allotment Facility available
in full.
The Board also advises that the
scheduled 7 November 2024 allotment (as detailed in the Prospectus)
will be brought forward to 28 October 2024 with cleared funds
to be received by 21 October 2024. It is also likely that an
additional allotment may take place during the week commencing 16
December 2024, subject to the fundraise not filling beforehand in
which case the Offer will close earlier and an additional allotment
will take place.
For further information, please
contact:
Gresham House Asset Management
Limited Company Secretary
Telephone: +44 (0)20 7382
0999
Please note that MIG and Gresham
House cannot give any financial, legal, tax or investment
advice.
