IN BRIEF: Draper Esprit VCT Plans GBP5 Million Subscription

Draper Esprit VCT PLC - venture capital trust - Issues prospectus relating to an up to GBP5 ...

Alliance News 16 February, 2021 | 10:04PM
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Draper Esprit VCT PLC - venture capital trust - Issues prospectus relating to an up to GBP5 million subscription offer with a further GBP15 million maximum over-allotment facility. The offer is equivalent to around 45 million new shares, assuming it is fully subscribed the the over-allotment facility fully utilised.

Draper Esprit VCT also seeks approval to make minor amendments to its article of association and cancel both its share premium account and capital redemption reserve. Also seeks approval for related party transactions with company manager Elderstreet Investment Ltd concerning entry into a promoter agreement in respect of the offer plus entry into a new investment management agreement following the manager's Draper Esprit PLC acquisition.

Current stock price: 46.60 pence

Year-to-date change: down 0.9%

By Anna Farley; annafarley@alliancenews.com

Copyright 2021 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Draper Esprit VCT 53.00 GBX 7.07 -

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