Key Features of the Offers:
- Experienced manager with strong track record
- Thematic investment strategy
- Investment into an existing balanced portfolio of around 70 businesses with an asset value of around £365m
- Up-front income tax relief at 30%
- Target monthly tax-free income yield of around 5.5% (7.8% p.a. net of upfront tax relief)
- Dividend reinvestment scheme provides a compound capital growth option
Details of the Offers:
Amounts subscribed will be invested equally across each of the five Albion VCTs or otherwise as directed by investors, subject to a minimum subscription of £1,000 for each VCT
Minimum Investment – £5,000 in aggregate per investor and applications should be in multiples of £1,000
Maximum Investment – £200,000 per investor in VCTs, in total, for the current tax year
Initial Charge – 2.5 per cent of the amount subscribed
Annual Costs – Average annual running costs are 2.5 per cent, including the average annual management fee of 2.1 per cent. Any excess will be borne by the Manager through a reduction in its management fee.
Early Bird Offer
Investors for the first £10 million who apply by 2 p.m. on 31 January 2020 will be eligible for an Early Bird Discount as follows:
- Existing Shareholders in any of the Albion VCTs will benefit from a 1 per cent. discount, such that the issue price of their Shares will be calculated by reference to the latest net asset value per Share divided by 0.985
- New investors who are not existing Shareholders in any Albion VCT will benefit from a 0.5 per cent. discount, such that the issue price of their Shares will be calculated by reference to the latest net asset value per Share divided by 0.98
Any application made under the Offers must be based on the information provided in the Prospectus, being this Securities Note, the Summary and the Registration Document all dated 22 October 2019, and any Supplementary Prospectus, all available to download in the panel opposite.
The Albion VCTs’ combined portfolios have a current value of around £460 million*, diversified across approximately 70 businesses. The planned top up offers reflect Albion Capital’s confidence in an exciting pipeline of investment opportunities in sectors with long-term growth potential. Over the last five years the Albion VCTs have returned an average of 8.5% p.a.** excluding tax relief.
*As at 30 June 2019. **Performance of the VCTs over 5 years to 30 June 2019, being the cumulative return for the period comprising dividends paid and change in net asset value. This does not include tax relief. Past performance is not a guide to future performance.
Please note, Albion Technology & General VCT (AATG) is not included in the offers due to a significant exit.
For further information please contact:
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Please note, all Shareholders will continue to receive a postal copy of their share certificates and income tax relief certificates.
Albion Capital Group LLP is authorised and regulated by the Financial Conduct Authority.