Foresight VCT

Foresight VCT (F VCT) invests in later stage growth capital opportunities across a range of sectors.

F VCT is now open for investment.

The board of Foresight VCT plc (Board) is pleased to announce the launch of an offer for subscription (Offer) to raise up to £20 million (with an over-allotment facility to raise up to a further £5 million) through the issue of new shares. The Offer will provide shareholders and new investors with a further opportunity to invest in the Company and benefit from the VCT tax reliefs available to qualifying investors.

Foresight VCT Offer for Subscription

Investment Strategy

The Board believes that it is in the best interests of Shareholders to continue to pursue a strategy which includes the following four key objectives:

  • further development of the net assets of the Company to a level in excess of £150 million;
  • the implementation of a significant number of new and follow on qualifying investments every year;
  • payment of an annual dividend to Shareholders of at least 5% of the NAV per Share, whilst at the same time aiming to maintain the NAV per Share at around its current level; and
  • implementing a programme of regular share buy backs at a discount in the region of 10% to the prevailing NAV per Share.

Details of the Offer

Offer size: £20,000,000 (+ £5,000,000 over-allotment facility)

Offer Opened: 28 January 2020

Closing date Tax Year 2019/2020: 3 April 2020 (12 noon)

Closing date Tax Year 2020/2021: 30 April 2020 (12 noon)

Sectors: Generalist Private Equity

Minimum Subscription: £3,000

Maximum Subscription: £200,000 (in each tax year for VCT tax relief)

Shareholder Loyalty Bonus: 0.5% discount for existing shareholders of any Foresight VCTs

VCT Tax Reliefs

30% income tax relief applies for investors subscribing up to a maximum of £200,000 in any tax year (subject to holding the investment for a minimum of 5 years)

Dividend income paid by the Company is not liable to income tax.

Any capital growth on disposal of shares is free of Capital Gains Tax.

Changes to the terms and conditions of Foresight VCT Dividend Reinvestment Scheme

If you are an existing participant in the dividend reinvestment scheme, made available by Foresight VCT plc, you will have been sent a letter on the 6 March 2019 to give notice of the proposed changes to the Scheme. These changes will take effect on 8 April 2019 and will apply to all dividends paid by the Company after that date.

You can view and download a copy of the letter, the revised Scheme Rules and a comparison showing the changes to the existing Scheme Rules using the table below:

Document
Foresight VCT – DRIS New Ts&Cs Cover LetterView
Foresight VCT – DRIS New Scheme RulesView
Foresight VCT – DRIS Comparison of Old & New Scheme RulesView
Regulatory Announcements
Announcement of Intention to Utilise Over-Allotment Facility09:45 13-Mar-2020View
Director / PDMR Shareholding17:27 28-Feb-2020View
Issue of Equity17:21 28-Feb-2020View
Transaction in Own Shares16.32 05-Feb-2020View
Transaction in Own Shares15:57 31-Jan-2020View

Foresight VCT Financial Highlights

£136.7m Total Net Assets

Foresight VCT's Total Net Assets as at 31 December 2018 was £136.7m

3.9% NAV increase before dividends

3.9% Net Asset Value per Ordinary Share increase in the year to 31 December 2018.

5.0p Dividends paid

5.0p dividends were paid in the year to 31 December 2018.

As at 31 December 2018

Foresight VCT PLC Financial Calender
Launch date19 August 1997
Year end31 December
Annual report & accounts publishedApril
Half year30 June
Half yearly report publishedAugust
Annual General MeetingMay/June

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020 3667 8199

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Capital is at risk. The value of an investment and any income from it can fall as well as rise and investors may not get back the full amount they invest. VCTs should be considered longer-term investments and may be higher risk and more difficult to realise than other securities listed on the London Stock Exchange. Tax reliefs are dependent on the VCT maintaining its qualifying status and on investors’ individual circumstances. Current tax rules are subject to change. Past performance is not a reliable indicator of future performance. Foresight Group LLP does not provide advice and the information on this website should not be construed as such. We recommend investors seek advice from a regulated financial adviser. Investors should only subscribe for shares in a VCT on the basis of information contained in the prospectus and Key Information Document.

Foresight Group LLP is authorised and regulated by the Financial Conduct Authority (FRN: 198020).