Downing ONE VCT plc ("the Company")
7 September 2017
Publication of prospectus (correction)
The announcement released by the Company at 18:03 today entitled "Publication of prospectus" contained some incorrect wording in the description of the smaller related party transaction.
The full announcement with corrected wording is as follows:
The Company has today issued a prospectus relating to an offer for subscription for ordinary shares of 1p each in the Company ("New Shares") to raise up to £20 million (the "Offer") (equivalent to approximately 21,548,821 Shares), following the approval of the prospectus from the UK Listing Authority. The offer also includes an overallotment facility to issue up to a further £10 million worth of New Shares.
Pursuant to an agreement dated 7 September 2017 relating to the Offer, between the Company and Downing LLP (the "Investment Adviser"), the Company's investment adviser, and which constitutes a smaller related party transaction within Listing Rule 11.1.10 R, the Investment Adviser will receive:
The Offer is now open and will close at 3.00 pm on 5 April 2018 for the 2017/2018 tax year and 3.00 pm on 30 April 2018 for the 2018/2019 tax year, or earlier if the Offer is fully subscribed. The board of the Company reserves the right to close the Offer earlier or to extend the Offer (to no later than 31 August 2018).
The Prospectus has been approved by the UK Listing Authority and will shortly be available to view at the online viewing facility of the National Storage Mechanism at the following website address: http://www.morningstar.co.uk/uk/NSM
A copy of the Prospectus is available, free of charge from the Company's registered office, Ergon House, Horseferry Road, London SW1P 2AL and on Downing's website at https://www.downing.co.uk/d1offer