VCT Fundraising for the 2024/25 tax year
Offers for subscription - fully subscribed.
The Offers for applications opened at 9.00am on Monday, 2 September 2024. The Offers are now fully subscribed and new applications are not being accepted. The final allotment will take place on 28 October 2024.
More details on the merger can be found here.
A prospectus and an investor guide have been published in relation to the Offers for Subscription to raise up to £70 million in aggregate with an over-allotment facility to raise a further £20 million in aggregate (The Offers) for the Tax Year 2024/2025.
Each Company is seeking to raise £35 million (excluding the over-allotment facility) and a maximum of £45 million (including the over-allotment facility).
The minimum investment is £6,000 (in aggregate, subject to £3,000 per relevant Company). To apply, please complete our online application form, alternatively our postal application can be found here.
The Offers opened at 9.00am on Monday, 2 September 2024 and are expected to close (unless fully subscribed earlier or otherwise at the discretion of the relevant Board) at 5.00pm on 26 March 2025.
Funds raised as at 16 October 2024 (Fully subscribed):
Please direct any questions to:
Email: mobeusvcts@greshamhouse.com
Telephone: +44 (0) 20 7382 0999
Distributor – For Financial Intermediaries only
Portunus Investment Solutions Limited
Office 416
83 Victoria Street
London SW1H 0HW
Telephone: +44 (0) 20 3411 9575
Please note that the Mobeus VCTs, Gresham House Asset Management and Portunus Investment Solutions Limited will only be able to deal with the practicalities of application and are not permitted to provide any investment, financial or tax advice in connection with an investment under the Offers.
The above constitutes an advertisement and not a prospectus. Any subscription for shares in the Mobeus VCTs referred to in this advertisement should only be made on the basis of the information contained in the Prospectus above. The information set out above does not, and is not intended to form the basis of, nor may it be relied on in connection with, any contract for the acquisition of any shares in the Mobeus VCTs. The Prospectus will describe the structure of the securities more completely, including risk factors which should be considered by potential investors. Prior to making any investment, investors should review the Prospectus, rely only on the information contained therein and conduct their own investigation and analysis. Information contained herein is qualified entirely by the information in the Prospectus.
This document has been issued as a financial promotion for the purposes of section 21 of the Financial Services and Markets Act 2000 and approved as such by Gresham House whose registered office is 5 New Street, London EC4A 3TW and is authorised and regulated by the Financial Conduct Authority (FCA number 682776).
This document includes details of Mobeus Income & Growth VCT plc (MIG) and The Income & Growth VCT plc (I&G) (together Mobeus VCTs or the Companies).
This document is not a prospectus but an advertisement and the receipt of Consideration Shares by a Target VCT’s shareholders will be, and/or any subscription for Offer Shares in an Acquirer VCT should only be made, on the basis of the information contained in the Prospectus (and your attention is drawn to the risk factors set out in Part I of the Prospectus). This document does not, and is not intended to, form the basis of (nor may it be relied on in connection with) the issuance of, or any contract for the acquisition of, any shares in an Acquirer VCT. Information contained herein is qualified entirely by the information in the Prospectus. The approval of the Prospectus by the Financial Conduct Authority should not be understood as an endorsement of the shares of an Acquirer VCT. Investment in an Acquirer VCT should be considered a long-term investment. The value of shares in an Acquirer VCT, and the income derived from them, can go up and down and investors may not get back the money originally invested. In addition, there is no certainty that the market price of the shares in an Acquirer VCT will fully reflect their underlying net asset value nor that dividends will be paid. Past performance is not a guide to future performance and there is no guarantee that an Acquirer VCT’s objectives (including maintaining VCT status) will be achieved.
For the Attention of United Kingdom Investors:
This document is intended for distribution in the United Kingdom only to persons who have professional experience in matters relating to investments, who are investment professionals, high net worth companies, high net worth unincorporated associations or partnerships or trustees of high value trusts, and investment personnel of any of the foregoing (each within the meaning of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005).
This document (the document) is issued on a confidential basis by Gresham House for information purposes only. This document, its contents and any information provided or discussed in connection with it are strictly private and confidential and may not be reproduced, redistributed or passed on, directly or indirectly, to any other person or published, in whole or in part, for any purpose, without the consent of Gresham House (provided that you may disclose this document on a confidential basis to your legal, tax or investment advisers (if any) for the purposes of obtaining advice). Acceptance of delivery of any part of the document by you constitutes unconditional acceptance of the terms and conditions of this notice.
This document does not itself constitute an offer to subscribe for or purchase any shares or securities. This document is not intended to be relied upon as the basis for an investment decision, and is not, and should not be assumed to be, complete. It is provided for information purposes only. Any investment is subject to various risks, none of which are outlined herein. All such risks should be carefully considered by prospective investors before they make any investment decision.
You are not entitled to rely on this document and no responsibility is accepted by Gresham House or any of its directors, officers, partners, members, agents or advisers or any other person for any action taken on the basis of the content of this document. Gresham House does not undertake to provide the recipient with access to any additional information or to update this document or to correct any inaccuracies therein which may become apparent.
No undertaking, representation, warranty or other assurance, express or implied, is made or given by or on behalf of Gresham House or any of its respective directors, officers, partners, members, agents or advisers or any other person as to the accuracy or completeness of the information or opinions contained in this document and no responsibility or liability is accepted by any of them for any such information or opinions.
Past performance is not necessarily a guide to future performance. The value of investments may fall as well as rise and investors may not get back the amount invested.
No representation is being made that any investment will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.
The internal rates of return or IRRs presented on a “gross” basis do not reflect any management fees, carried interest, taxes and allocable expenses of the kind that will be borne by investors in a fund, which in the aggregate may be substantial.
No person, especially those who do not have professional experience in matters relating to investments, must rely on the contents of this document. If you are in any doubt as to the matters contained in this document you should seek independent advice where necessary. This document has not been submitted to or approved by the securities regulatory authority of any state or jurisdiction.
Please contact a member of the Gresham House team if you wish to discuss your investment or provide feedback on this document. Gresham House is committed to meeting the needs and expectations of all stakeholders and welcomes any suggestions to improve its service delivery. www.greshamhouse.com