Fund raising 2017 /2018

[BusyBumbleBee]

Get ready...
on your marks....

and wait till September when Albion "intend to launch prospectus top up offers of new ordinary shares in the six VCTs managed by Albion Capital (formerly Albion Ventures) for subscription in the 2017/2018 and 2018/2019 tax years" See

http://www.investegate.co.uk/crown-plac ... LC%20Alert

[Retiringat51]

TER reports that Mobeus Income & Growth VCT, 2 VCT, 4 VCT and The Income & Growth VCT are also expected to be making an Offer (albeit an unspecified launch date and amount to be raised at this stage)

[Retiringat51]

Oh, and Octopus AIM VCT & VCT 2 are planning to pile a tidy pile into the AIM bubble territory (2017/18 a new combined offer £30m with an overallotment facility of £10m, launch date unknown)

[Kidman]

VCTs managed by Albion Capital (formerly Albion Ventures)

It's good to know that Albion Capital haven't given up on VCTs after their recent corporate changes. The change of name reflects their acquisition of OLIM Investment Managers from their old parent Close Brothers. It brought in £490m AUM including an equity income fund and the equities mandate for VIN. It may be a sign that they don't see enough long-term growth in the VCT market.

[DRB79]

Interesting Albion have seemingly already decided to rasie additional funds this tax year - they wouldnt have yet spent much of the previous raising- and given record amounts of VCT raising's how would they know they can put additional funds to good use and get a reasonable return?

I hold Albion funds and Unicorn but I think I'll focus more on the crowdfunding/EIS/SEIS sectors from now on. Less competition from other investors, and with such high amounts raised by VCTs I think any reasonable EIS/SEIS company has a good chance of being bought out by a VCT fund in the medium term.

[UncleEbenezer]

I think any reasonable EIS/SEIS company has a good chance of being bought out by a VCT fund in the medium term.

So you're anticipating a change to the rules about replacement capital? Do you know something we don't?

[UncleEbenezer]

Unicorn today. £30m+20m, which is a lot more than has been their habit.

One might almost think a pattern was emerging, with much bigger fundraisings than a couple of years back. Emboldened perhaps by Titan and by each other.

[BusyBumbleBee]

Unicorn today. £30m+20m, which is a lot more than has been their habit.

One might almost think a pattern was emerging, with much bigger fundraisings than a couple of years back. Emboldened perhaps by Titan and by each other.

"Gadarene Swine", "Lemming Like" "gold rush" are other phrases which spring to mind. I'm out this year apart from Albion and possibly Amati.

[scotia]

Up and Running - Unicorn AIM VCT plc - RNS today

Unicorn AIM VCT plc ("the Company") has today launched an offer to raise up to £30 million (with an over-allotment facility for up to a further £20 million) through the subscription of up to a maximum of 35 million ordinary shares of 1p each ("the Offer"). Full details of the Offer are contained in a prospectus ("the Prospectus"), which was published by the Company today.

The Offer opens today and will close at 12.00 noon on 26 September 2017 (unless fully subscribed by an earlier date or otherwise extended or closed at the Directors' discretion).

[Retiringat51]

This could be the first VCT offering to have sold out prior to release of the Application Forms?

Scotia, do you know whether the offer will cover the 17/18 and 18/19 tax years?

Unicorn used to straddle until their last fundraising.

[scotia]

A Link to the Unicorn Offer:-
http://www.lse.co.uk/share-regulatory-n ... Prospectus

No mention of it allowing a split between 2017/2018 and 2018/2019 - but with the offer closing on 27th September 2017 I think its unlikely
I couldn't find the prospectus on the Unicorn Site - I am now about to search round financial sites

[Retiringat51]

The Prospectus and Application Form is now on the Unicorn AIM VCT website.

Noting the Offer relates to this tax year only.

[scotia]

Unicorn Prospectus also now on the ClubFinance Site

[sinterklaas]

also on the wealth club site
https://www.wealthclub.co.uk/venture-ca ... n-aim-vct/
they sent round an email at 8 am… clearly anticipating keen investors : )

interesting to note the divi is now twice a year, and the performance fee has gone

[oxmatt]

Now Northern have announced a £60m raise (£20m for each VCT). So a slightly better hope of getting an allocation this year.

[Retiringat51]

So a slightly better hope of getting an allocation this year.

I wouldn't count on it!

Get that return flight or train to Newcastle booked immediately or otherwise Ant and Dec will beat you all to it

[scotia]

Octopus Aim & AIM2 VCTs made their first allotment on 7th of August - approx. £14M out of the proposed £30+10M
So it looks like that they will have little difficulty in meeting their target.

[Kidman]

Now Northern have announced a £60m raise (£20m for each VCT). So a slightly better hope of getting an allocation this year.

This morning's post has brought me a letter from NVM about their proposed £60m offer for subscription.
I note that for the first 21 days, shareholders can only apply and get a priority allocation for the VCT(s) that they already own.
Not as guaranteed as a rights issue but moving in the right direction?

[oxmatt]

Does it state the launch date - so we can book our train tickets?

[scotia]

Does it state the launch date - so we can book our train tickets?

I wonder if a train from Glasgow to Newcastle can beat one from London?