Close Brothers Investment is looking to raise a further £20m through a C share issue for the group's...
Close Brothers Investment is looking to raise a further £20m through a C share issue for the group's AIM VCT.
The first tranche of C shares will be offered to the market on 20 October and IFA commission of 2.5% initial and 0.25% renewal will be available. The Close Brothers AIM VCT was launched in 1998 and raised £10.1m.
Craig Reader, managing director of Close Brothers Investments, said: "Close Brothers AIM VCT has made some 34 investments in its first two years and by making some disposals has enabled investors to receive substantial tax-free dividends. Those who invested in the Close Brothers AIM VCT at launch, and took advantage of the full tax benefits, will have invested a net 40p per share and will receive 41p per share in tax-free dividends."
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