Downing Four fundraise and new AIM class

[127tolmers]

https://www.investegate.co.uk/downing-f ... 3745H1366/

The Company has today issued a prospectus (the "Prospectus") relating to offers for subscription (“Offers”) by the Company to raise up to £10 million (with an over-allotment facility for up to a further £15 million) in each of three classes of shares – Generalist Shares of 0.1p each (to be renamed Ventures Shares), Healthcare Shares of 0.1p each and a newly created class of AIM Shares of 0.1p each

New AIM Share Class
For over 12 years, Downing LLP has developed a team focused on investing in listed equities, which now has £350m of funds under management and comprises seven fund managers, of whom four focus on smaller companies.

The team has been monitoring the market for potential VCT qualifying companies, both in the secondary and primary markets, and has noted a steady flow of such businesses which potentially offer attractive investment opportunities. The Board is proposing to create a new AIM Share class, to be managed by this team, to take advantage of these opportunities.

The management arrangements for the AIM Shares will be implemented through an amendment to the existing investment management and administration agreement with Downing LLP. The amendment will provide that the AIM Shares (in respect of which the Company may raise up to £25 million under the Offers) will be subject to an annual management fee of 1.75% of their NAV and subject to a costs cap of 3.0%, above which Downing LLP will cover running costs attributable to the AIM Share pool. There will be no performance incentive arrangements in respect of the AIM Shares.

[Bgsbgs]

It is now on Wealth club.

It says they will buy back shares at 0% discount, never saw that before.

[sinterklaas]

Think they've caught wind of the popularity of certain AIM VCTs, and decided they’re missing out on the action?

[Bgsbgs]

Think they've caught wind of the popularity of certain AIM VCTs, and decided they’re missing out on the action?

Perhaps for similar reasons, a new AIM EIS fund has also just launched.
https://www.wealthclub.co.uk/eis-invest ... -eis-fund/