Downing THREE VCT plc
20 February 2014
Issue of Equity
The Directors of Downing THREE VCT plc announce an allotment on 20 February 2014 of H shares of 0.1p each ("H Shares") pursuant to the Offer for Subscription that opened on 18 December 2013 ("Offer") as follows:
3,411,570 H Shares at an average price of 102.66p
Included within the above are allotments to Directors and PDMRs as follows:
| Director / PDMR | Shares allotted | Issue price | |
| Dennis Hale | Director | 4,975 | 100.50p |
| Roger Jeynes | Director | 19,900 | 100.50p |
| Michael Robinson | Director | 9,950 | 100.50p |
Application for the H Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will be made shortly.
The Offer will close on 4 April 2014 in respect of the 2013/2014 Offer and 30 April 2014 in respect of the 2014/2015 Offer unless previously extended or fully subscribed at an earlier date.