Albion Capital Launches £36 Million VCT Fundraising
- On January 9, 2019
- By GrowthInvest Admin
Albion Capital, the leading independent investment manager, is seeking to raise up to £36 million through top up offers for its six venture capital trusts.
The fundraising targets £6 million for each of the six Albion VCTs: Albion Venture Capital Trust PLC, Albion Development VCT PLC, Albion Enterprise VCT PLC, Albion Technology & General VCT PLC, Crown Place VCT PLC and Kings Arms Yard VCT PLC. Investments spread across all six portfolios will receive a monthly dividend with a yield of approximately 5.5 per cent*, or 7.8 per cent after tax relief, a potentially attractive income source in the current low interest rate environment.
Investors who apply before 2 p.m. on 28 February for the first £10 million of shares will be entitled to an “early bird” reduction in the offer costs. Existing Albion investors will receive a 1.0 per cent reduction and new investors will receive a 0.5 per cent reduction.
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