4 September
2024
Triple
Point Venture VCT plc
(the
"Company")
PUBLICATION OF PROSPECTUS AND
CIRCULAR
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")*,
together with a circular (the "Circular") relating to the approval
of an offer agreement in connection with the Offer, following
approval of the Prospectus and Circular 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 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 Promoter Fee
is required to be aggregated under the UK Listing Rules with the
same fee that was payable by the Company to TPIM for promoting the
offer for subscription that was launched by the Company on 22
September 2023.
The Offer is now open and is expected to close
on 31 July 2025 unless fully subscribed at an earlier date. A copy
of the Prospectus and Circular 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
(Investment Manager)
|
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.