Amati Over-allotment

[TuppyGlossop]

Hello all,

I’ve only ever subscribed to VCTs via an initial allocation, never via an over-allotment where such a significant amount of time has passed since the initial allocation (as is the case with Amati’s raise which opened this morning). The original raise was in July of 2021 when the NAV was 206p/sh, the most recent NAV is c 190p. My question is will the over-allotment be allocated at the old NAV or the most recent NAV? It wasn’t clear to me from the prospectus. I’m reluctant to invest if I’m taking such a NAV hit right off the bat.

Thanks all

Tuppy

[oxmatt]

On page 7 it says that shares will be issued at the last published NAV adjusted for offer costs depending on whether direct or advised etc. So should be most recent published. That looks to be 179.66p as at 10 Feb 2022 per most recent RNS but this will most likely be further updated before any allotment as they seem to publish NAV weekly and at the end of the month.

[barchid]

I noticed on this over allotment an increase in initial fees charged if going direct to Amati. I am sure that the last 2 applications I made were at 1% via Wealthclub or direct to Amati.
This allotment is 1% with WC or 3% direct to Amati, according to WC. I find it surprising that Amati, who have always been commendably parsimonious with their fees (compared to vct competitors) have apparently added 2% on to direct applications.
Am I perhaps misreading something here ?

[scotia]

Email this morning (Friday 18th) from AMATI

The Amati AIM VCT offer re-opened on Wednesday of this week and currently we have raised £22.6m with capacity of £2.4m remaining.