Albion VCTs launch £40 million share offer

Three Albion venture capital trusts have announced plans to raise up to £40 million in new shares, according to a press release. Albion Enterprise VCT PLC, Albion Technology & General VCT PLC, and Albion Crown VCT PLC will be offering fresh ordinary shares, with potential over-allotment facilities totaling £20 million. Albion Enterprise VCT and Albion Technology & General VCT each hope to raise £15 million, with over-allotment facilities of up to £10 million each, while Albion Crown VCT aims for £10 million without an over-allotment facility.

These share offers will become available on September 7, 2026, and are scheduled to close by April 2, 2027, unless fully subscribed or closed sooner. The investment manager, AlbionVC LLP, will receive a 3% fee on the gross proceeds, which will cover the costs of the offer, per the terms of a related party transaction approved by the UK Listing Rule 11.5.4R(1).

Directors of each company believe the transaction is fair and reasonable for shareholders, as confirmed in writing by the companies' sponsor, Howard Kennedy Corporate Services LLP. The prospectus, which includes a Securities Note, Registration Document, and Summary, will be accessible on the Albion website and submitted to the National Storage Mechanism in compliance with the Financial Conduct Authority’s Prospectus Rules. This report was AI-generated and edited by a human for accuracy.