ALBION TECHNOLOGY & GENERAL VCT PLC
The first allotment for this tax year of New Ordinary shares of nominal value 50 pence per share in Albion Technology & General VCT PLC under the Albion VCTs Linked Top Up Offer 2011/2012 (which was launched on 1 November 2011) took place on 10 January 2012 at an issue price of 88.9 pence per New Ordinary Share.
Applications for 449,000 New Ordinary shares in Albion Technology & General VCT PLC were received, including those applications received within the first £2.5m subscribed under the Offer, which are entitled to an additional 1% of the value subscribed, in New Ordinary shares. The cost of this additional 1% New Ordinary shares is being borne by the Manager, Albion Ventures LLP.
The net proceeds for this allotment by the Company are approximately £378,000 bringing the total raised by the Company by way of the issue of new shares in the last 12 months to approximately £1.308m (representing approximately 3.5% of the issued share capital).
Application has been made to the Financial Services Authority for 449,000 New Ordinary shares to be admitted to the Official List and to the London Stock Exchange for the New Ordinary shares to be admitted to trading on the London Stock Exchange's market for listed securities.
It is expected that Admission will become effective, and that dealings in the shares will commence on or before, 8.00 a.m. on 16 January 2012.
As at this first closing of the Albion VCTs Linked Top Up Offer 2011/2012 on 10 January 2012, the total raised under the Offer was £2.66m (including amounts reinvested). The Offer constitutes separate offers made by each of the Albion VCT's which are participating in it.
Following this allotment and in conformity with the Transparency Directive's transitional provision 6, we would like to notify the market of the following:
Albion Technology & General VCT PLC's capital as at 11 January 2012 consists of 44,172,776 Ordinary shares with a nominal value of 50p each. Albion Technology & General VCT PLC holds 4,290,372 Ordinary shares in Treasury.
Therefore, the total number of voting rights in Albion Technology & General VCT PLC is 39,882,404, which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, Albion Technology & General VCT PLC under the FSA's Disclosure and Transparency Rules.
For further information, please contact:
| Patrick Reeve Albion Ventures LLP | |
| 020 7601 1850 |
11 January 2012