Downing FOUR VCT plc
5 September 2017
Issue of Equity - Correction
CORRECTION: The announcement released at 16:46 by the Company on 1 September 2017 contained an error in the statement of the date on which dealings are expected to commence. The correct date on which dealings are expected to commence is 8 September 2017 (and not 29 September 2017 as originally stated). The full corrected text of the announcement is as follows.
The Directors of Downing FOUR VCT plc announce an allotment on 1 September 2017 of Generalist Shares of 0.1p each ("Generalist Shares") and Healthcare Shares of 0.1p each ("Healthcare Shares") pursuant to the Offers for Subscription that opened on 8 December 2016 ("Offers") as follows:
1,952,845 Generalist Shares at an average price of 104.88p; and
2,003,324 Healthcare Shares at an average price of 104.57p.
The Directors of Downing FOUR VCT plc further announce an allotment on 1 September 2017 of Generalist Shares of 0.1p each ("Generalist Shares") pursuant to the Top-Up Offer for Subscription dated 25 August 2017 ("Top-Up Offer") as follows:
65,530 Generalist Shares at an average price of 99.95p.
The Company also announces that it has allotted 7,487,874 Generalist Shares to members of the management team ("Management Shares") at an issue price of 0.1p per share as part of the Performance Incentive Scheme described in the prospectus dated 8 December 2016 ("Prospectus"). The holders of the Management Shares will not exercise any voting rights attaching to these shares and will waive any of their entitlement to distributions payable on these shares unless, and to the extent that, the performance hurdle described in the Prospectus has been met.
Application for all shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will be made shortly. Dealings are expected to commence on or around 8 September 2017.
The Company further announces that the Offer for Subscription that launched on 8 December 2016 in respect of the Generalist Shares has now closed having reached full subscription. The Offer for Subscription that launched on 8 December 2016 in respect of the Healthcare Shares remains open and is currently scheduled to close on 30 September 2017.
Following these allotments, the issued share capital and total voting rights of the Company are summarised follows:
| Shares in issue | Voting rights per share | Voting rights | |
| DSO B Shares of 0.1 pence each | 19,911,070 | 206 | 4,101,680,420 |
| DSO C Shares of 0.1 pence each | 29,926,070 | 1 | 29,926,070 |
| DSO D Shares of 0.1 pence each | 7,867,247 | 925 | 7,277,203,475 |
| DP2011 General Ordinary Shares of 0.1 pence each | 15,644,066 | 213 | 3,332,186,058 |
| DP2011 General A Shares of 0.1 pence each | 18,418,614 | 113 | 2,081,303,382 |
| DP2011 Structured Ordinary Shares of 0.1 pence each | 10,678,725 | 219 | 2,338,640,775 |
| DP2011 Structured A Shares of 0.1 pence each | 12,572,817 | 113 | 1,420,728,321 |
| DP2011 Low Carbon Ordinary Shares of 0.1 pence each | 7,575,419 | 500 | 3,787,709,500 |
| DP67 Ordinary Shares of 0.1 pence each | 11,239,785 | 750 | 8,429,838,750 |
| Generalist Shares of 0.1 pence each | 37,439,369 | 1,146 | 34,324,413,270 |
| Healthcare Shares of 0.1 pence each | 8,506,813 | 1,146 | 9,748,807,698 |
| Total voting rights | 76,872,437,719 |