Important Information: The Company currently conducts its affairs so that the shares issued by Foresight VCT plc can be recommended by IFAs to ordinary retail investors in accordance with the FCA’s rules in relation to non-mainstream investment products and intends to continue to do so for the foreseeable future. The shares are excluded from the FCA’s restrictions which apply to non-mainstream investment products because they are shares in a VCT.
Foresight VCT plc is a generalist fund aiming to provide investors with attractive returns from a portfolio of investments in fast growing, unquoted UK companies.
Foresight VCT (formerly Foresight Technology VCT plc) was launched in November 1997, initially raising £11m for investment in technology focused companies. In 1999/2000, a further £32.6 million was raised through a "C" share issue and £5.8 million in a subsequent top up offer. In 2007, the "O" share and "C" share classes were merged and the fund was renamed Foresight VCT plc.
At the date of the merger, the fund was the best performing VCT ever launched having achieved a number of exceptional realisations and having paid tax free dividends of £1.65 per £1 share.
In March 2011 Keydata Income VCT 1 Plc and Keydata Income VCT 2 Plc were merged into Foresight VCT Plc by means of a share exchange.
The fund remains the best performing VCT ever launched*.
In line with Foresight's investment strategy, this fund invests in later stage growth capital opportunities across a range of sectors.
* Source as at September 2013 : Tax Efficient Review
£20 million new Ordinary Share Issue
The Board of Foresight VCT announces the launch of a prospectus to raise a further £20 million for the ordinary share class of Foresight VCT. The offer is open to existing and new shareholders.
• Best performing VCT delivering 229.3p total return since launch to date
• More than £32 million of dividends paid to shareholders since launch
• Existing diversified portfolio of 17 companies in five sectors across the UK generating £110 million of revenues.
• Dividend policy : targeting a 5p per share per annum dividend with the intention to pay more on an as and when basis
• Dedicated in-house Private Equity team
• Target discount of 10% to NAV buyback mechanism
• Government-approved VCT tax breaks
* The 30% relief applies to all qualifying UK taxpayers on the amount subscribed up to £200,000 in any one tax year. The relief is retained provided that shares in the VCT are held for 5 years, subject to their VCTs retaining their status.
Early-Bird investor incentive
In addition to the VCT tax breaks, investors will be entitled to receive the following incentive package for completed applications and monies received by the following dates
2% additional share allocation for applications received on or before 29 November 2013
1% additional share allocation for applications received between 30 November 2013 and 28 February 2014
Existing Foresight shareholders will be entitled to a 0.5% loyalty bonus in addition to the “Early Bird” investor incentive for applications received before 28 February 2014.
How to subscribe - your next steps
For more information we suggest you contact your authorised intermediary.
Meanwhile, below please find copies of the Securities Note and Application Form, and the Investor Guide summary. The closing date for 2013/2014 tax year is 12noon 4th April 2014. For tax year 2014/2015 the offer stays open until 30th June 2014
Click here to download the Securities Note and Application Form
Click here to download the Investor Guide summary
Registration Document and Summary
Please click here to download the Registration Document.
Please click here to download the Summary
Please click on the links below to access up to date information on Foresight VCT plc.
Updated Bid Price and NAV CalculationsForesight VCT
- 10/04/2014 - Foresight 4 VCT sells stake in Hallmarq Veterinary Imaging Limited to Catamaran Ventures (UK) Limited and a number of existing shareholders
- 02/04/2014 - Foresight Solar Fund Limited announces agreement to acquire 1.6 ROC 12MW Spriggs Farm
- 31/03/2014 - Foresight Solar Fund Limited announces additional 39.6MW of solar power plants now connected to the grid and operational