Albion VCTs Prospectus Top Up Offers 2018/19 NOW OPEN

Offers for Subscription to raise, in aggregate, up to £36 million*

(* together with an over allotment facility of a further £12 million)

Key Features of the Offers:

  • Investment into an existing balanced portfolio of around 70 businesses with a net asset value of around £400m
  • Experienced manager with strong track record
  • Thematic investment strategy
  • Up-front income tax relief at 30%
  • Target monthly tax-free income yield of around 5.5% p.a. (7.8% p.a. net of upfront tax relief).
  • Dividend reinvestment scheme provides a capital growth option

Details of the Offers:

Amounts subscribed will be invested equally across each of the Albion VCTs available or otherwise as directed by investors.

Please note that Albion Venture Capital Trust PLC has reached full capacity and is now closed to further applications. 

Minimum Investment – £6,000 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 – Total running cost cap of up to 3.0 per cent (including average annual management fee of 2.2 per cent). Any excess will be borne by the Manager through a reduction in its management fee.

The Albion VCTs’ combined portfolios have a current value of around £400 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 7.8% p.a.** excluding tax relief.

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 7 January 2019, and any Supplementary Prospectus, all available to download in the right hand panel.

*As at 30 September 2018. **Performance of the VCTs over 5 years to 30 September 2018, 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.

The Early Bird Offer is now closed

The Early Bird Offer is fully subscribed and closed on the afternoon of Wednesday 23 January 2019

Please return completed application forms to:

Application Form, Albion Capital Group LLP, 1 King's Arms Yard London, EC2R 7AF

or email the completed forms to topup@albion.capital (when convenient please also send a hard copy to the address above)

Tax Efficient Review

For a copy of the Tax Efficient Review for the 2018/2019 Offers, please contact Stuart Mant.

For further information please contact:

Stuart Mant,

Head of Business Development

E: smant@albion.capital

T: 020 7601 1850

RISK WARNING

The information on these pages relating to VCTs managed by Albion Capital Group LLP (Albion) is directed at United Kingdom residents only. Shares in venture capital trusts ("VCTs") referred to on this website will not be offered to non-residents. No reliance is to be placed on the information contained on this website in making an application to subscribe for shares in VCTs managed by Albion.

Any such application may only be made on the basis of the relevant prospectus and/or offer document, which can be downloaded from this website or obtained from: Albion Capital Group LLP, 1 King’s Arms Yard, London EC (0207 601 1870). Prospective investors should ensure that they read the risk warnings set out in the prospectus and/or offer document. Albion does not provide financial advice and nothing on these web pages should be construed as investment or tax advice. An investment in a VCT should be considered a long-term investment and the tax treatment depends on the individual circumstances of each investor and may be subject to change in the future.

Under current legislation shares must be held for a minimum of five years for maximum tax benefits and may be affected by future legislation. If certain criteria are not met, for example if the investment is not held for five years or if the VCT does not invest 70% of its funds in qualifying investments, the tax breaks will be withdrawn and you may be required to repay any tax relief which you have received upfront. No VCT can guarantee that its investors will qualify for tax relief. You should not invest in a VCT simply for the tax benefits.The market price of VCT shares may not reflect the full underlying net asset value ("NAV") of shares and shareholders may have difficulty in selling their shares and any sale is likely to be at a discount to the NAV. Potential investors in VCTs managed by Albion should consult their financial advisers.

The value of shares in a VCT and the income from them may fluctuate and investors may not get back the amount they invested. The market price of VCT shares is unlikely fully to reflect their underlying net asset value. It is possible that there may not be a liquid market in the shares of VCTs and shareholders may have difficulty in selling their shares. Any sale is likely to be at a discount to net asset value. VCTs invest in a portfolio of small companies, which by their nature carry greater risk than larger, quoted companies. The tax reliefs available to investors in a VCT are dependent on it maintaining HM Revenue & Customs approval. A failure to meet the qualifying requirements could result in adverse tax consequences to investors, including a requirement to repay the income tax relief obtained. Investors must retain their VCT shares for the minimum period required to retain their initial tax relief. The tax rules and regulations governing VCTs are subject to change. The past performance of Albion Capital Group LLP as a fund manager is no guide to the future performance of its VCTs.

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Downloads

2018 2019 Securities Note.JPG
Securities Note 2018/2019
PDF icon Download PDF (2.27 MB)
2018 2019 Registration Document.JPG
Registration Document 2018/2019
PDF icon Download PDF (1.33 MB)
2018 2019 Summary.JPG
Summary 2018/2019
PDF icon Download PDF (979.72 KB)
2018 2019 Application Form.JPG
Additional Application Form 2018/2019
PDF icon Download PDF (92.59 KB)
Resons Why Letter
Reasons Why Letter
PDF icon Download PDF (163.84 KB)
18-19 Offer Investor Guide
Investor Guide 2018/2019
PDF icon Download PDF (366.5 KB)