Blackfinch Spring VCT launches £20 million share offer By Investing.com

LONDON - Blackfinch Spring VCT plc announced today the publication of a prospectus for an offer for subscription of ordinary shares to raise up to £20 million, with an over-allotment facility of up to a further £20 million. The offer, which opened today, will close no later than 3pm on August 23, 2027, or earlier at the board's discretion, according to a press release statement. Under agreements dated today, the company's investment manager, Blackfinch Investments Limited, will receive a fee of not more than 5.5% of the gross funds raised under the offer for procuring subscribers. BIL will also receive £10,000 plus 0.12% of subscription monies raised for acting as receiving agent. BIL is classified as a related party of the company under UK Listing Rules. The board of Blackfinch Spring VCT stated it considers the transactions fair and reasonable for shareholders, having received advice from the company's sponsor, Howard Kennedy Corporate Services LLP. The company also disclosed that following the payment of an interim dividend of 2.2p per ordinary share on August 7, 2026, the unaudited net asset value per ordinary share as of that date, adjusted only for the dividend payment, stood at 86.16p per ordinary share. The prospectus will be available for inspection at the National Storage Mechanism and on the company's website. This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.