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Downing ONE VCT plc - Offer for subscription 2020/21 extension and over-allotment facility

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Downing ONE VCT plc
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Downing ONE VCT plc
LEI: 213800R88MRC4Y3OIW86
29 March 2021
Offer for Subscription 2020/21 Extension and use of over-allotment facility

The Board of Downing ONE VCT plc announces an extension to the deadline for applications for the 2020/21 tax year in respect of the Offer for Subscription that launched on 11 September 2020. The deadline has now been extended to 3pm on 5 April 2021.

The Offer is now scheduled to close at 3:00pm on 5 April 2021 for the 2020/21 tax year and at 3:00pm on 30 April 2021 in respect of the 2021/22 tax year unless it is fully subscribed at an earlier date or previously extended by the Directors.

In addition, The Board of Downing ONE VCT plc has authorised the use of the overallotment facility, of £25 million, should it be required when the initial capacity is reached. This extends the capacity of the Offer from £15 million to £40 million. Total funds raised to date under the Offer are £10.5 million.