Hargreave Hale AIM VCT 1 plc and Hargreave Hale AIM VCT 2 plc
18 September 2017
Announcement of Intention to Utilise Over-Allotment Facility and Offer Update
On 14 December 2016, Hargreave Hale AIM VCT 1 plc and Hargreave Hale AIM VCT 2 plc (together "the Companies") launched an offer for subscription of ordinary shares of 1p each to raise in aggregate up to £20 million ("the Offers" and each an "Offer"). Full details of the Offers are contained in a prospectus ("the Prospectus") which was published by the Companies on 14 December 2016.
On 9 March 2017 Hargreave Hale AIM VCT 1 plc announced that it had received applications in excess of £10 million and, accordingly, the directors of Hargreave Hale AIM VCT 1 plc announced that they intended to utilise the £5 million Over-Allotment Facility. On 15 March 2017 Hargreave Hale AIM VCT 1 plc announced that the Company had received applications in excess of the £5 million Over-Allotment Facility and, therefore, the Offer for Hargreave Hale AIM VCT 1 plc was closed.
On 9 March 2017, the directors of Hargreave Hale AIM VCT 2 plc announced that the Hargreave Hale AIM VCT 2 plc Offer was fully allocated in respect of the £10 million initially sought and that it did not intend to use its Over-Allotment Facility in relation to the 2016/2017 tax year; they reserved the right to utilise the Over-Allotment Facility in relation to the Offer in the 2017/2018 tax year. The directors of Hargreave Hale AIM VCT 2 plc are now pleased to announce their intention to utilise the Over-Allotment Facility and increase the size to £7.5 million. A supplementary prospectus will be issued shortly.
The directors of Hargreave Hale AIM VCT 1 plc will confirm their fundraising strategy shortly which, in addition to raising further capital for its existing investment strategy, may also include the creation of a new class of share to facilitate further investment into private companies. A further announcement will be issued in due course.
For further information please contact:
Stuart Brookes
Company Secretary - Hargreave Hale AIM VCT 1 and 2 Plc
Tel 0207 009 4987
snb@hargreave.com