Three Albion venture capital trusts announced on Monday a combined share offer aimed at raising up to £40 million in aggregate funding.
Albion Enterprise VCT PLC and Albion Technology & General VCT PLC each plan to raise £15 million, with an over-allotment facility of up to £10 million for each issue. Albion Crown VCT PLC targets £10 million with no over-allotment facility. The offers, managed by AlbionVC LLP, will open on September 7, 2026, and are expected to close no later than April 2, 2027, unless fully subscribed earlier.
The investment manager will receive a 3% fee on gross proceeds, which will cover the costs of the offers. The fee arrangement has been deemed a related party transaction under UK Listing Rule 11.5.4R(1), a classification the boards of each trust consider fair and reasonable for shareholders. Howard Kennedy Corporate Services LLP, acting as sponsor, provided written confirmation of the transaction.
The prospectus, including a Securities Note, Registration Document, and Summary, has been published on the Albion website and submitted to the National Storage Mechanism in accordance with Financial Conduct Authority rules.
