The prominent investment company has announced a £12.3 million equity raise, issuing new shares at a modest discount to the previous closing price. The proceeds will be used to fund the company's growth strategy.
The investment company has increased the maximum amount it can raise under its current share offering from £20 million to £30 million.
The directors of the investment trust have increased their shareholdings through the dividend reinvestment scheme.
The investment trust has issued new ordinary and C shares, with the ordinary shares priced at a discount and the C shares at a premium to the previous closing price.
The investment company reports a decrease in total shareholder value, but maintains a strong balance sheet and continues to pay dividends.
The Albion VCTs plan to launch prospectus top up offers of new ordinary shares for subscription in the 2025/2026 tax year, with the intention of raising up to £60 million in aggregate, with over-allotment facilities of up to a further £30 million.