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LONDON - Albion Enterprise VCT, Albion Technology & General VCT, and Albion Crown VCT announced Thursday they have published a prospectus for offers to raise up to £60 million collectively, with an additional £30 million in overallotment facilities.
The three venture capital trusts will each seek to raise £20 million, with individual overallotment facilities of up to £10 million per fund. The offers will open on November 3, 2025, and are expected to close by April 2, 2026, unless fully subscribed earlier.
According to the prospectus, Albion Capital Group LLP, the investment manager for all three VCTs, will receive a fee of 3 percent of the gross proceeds and will cover the costs of the offers from this fee.
The companies noted that Albion Capital is considered a related party to each VCT under UK Listing Rules. The boards of directors for each company have determined the fee arrangement is fair and reasonable for shareholders, with written confirmation provided by sponsor Howard Kennedy Corporate Services LLP.
The prospectus, comprising a Securities Note, Registration Document and Summary, has been submitted to the National Storage Mechanism in accordance with UK Listing Rules and will be available for inspection through the Financial Conduct Authority’s data portal.
The announcement is based on a press release statement from the companies.
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