Downing Planned Exit VCT 2 - G Shares - The Tax Shelter Report
Downing Planned Exit VCT 2 - G Shares - The Tax Shelter Report
Downing Planned Exit VCT 2 - G Shares - The Tax Shelter Report
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Thisdocument,theRegistrationDocumentandtheSummary,whichtogethercomprisetheprospectus(the"Prospectus")relatingtothe<br />
Company,havebeenpreparedinaccordancewiththeProspectusRulesmadeundersection73Aandinaccordancewithsection84ofthe<br />
FinancialServicesandMarketsAct2000("FSMA")andhavebeenapprovedby,andfiledwith,theFSA.<br />
<br />
ApplicationhasbeenmadetotheUKListingAuthorityforalltheG<strong>Shares</strong>,issuedandtobeissuedinthecapitaloftheCompany,tobe<br />
admittedtothepremiumsegmentoftheOfficialList.ApplicationwillalsobemadetotheLondonStockExchangeforalltheG<strong>Shares</strong>,<br />
issuedandtobeissuedinthecapitaloftheCompany,tobeadmittedtotradingonitsmainmarketforlistedsecurities.Subjecttothe<br />
MinimumSubscriptionbeingreceivedbythen,itisexpectedthatAdmissionofthefirstallotmentofG<strong>Shares</strong>willbecomeeffective,and<br />
thatdealingsintheseshareswillcommence,by28March2013andinrespectofsubsequentallotmentsthereafterwithin20BusinessDays<br />
ofallotment.<br />
<br />
<strong>The</strong>CompanyanditsDirectors,whosenamesappearonpage7ofthisdocument,acceptresponsibilityfortheinformationcontainedin<br />
thisdocument.TothebestoftheknowledgeoftheCompanyanditsDirectors(whohavetakenallreasonablecaretoensurethatsuchis<br />
thecase)theinformationcontainedinthisdocumentisinaccordancewiththefactsanddoesnotomitanythinglikelytoaffecttheimport<br />
ofsuchinformation.<br />
<br />
HowardKennedyCorporateServicesLLPisactingassponsorand<strong>Downing</strong>LLPisactingaspromoteroftheCompanyinconnectionwiththe<br />
Offers,andneitherofthemisadvisinganyotherpersonortreatinganyotherpersonasacustomerorclientinrelationtotheOffersor<br />
(subjecttotheresponsibilitiesandliabilitiesimposedbytheFSMAortheregulatoryregimeestablishedthereunder)willberesponsibleto<br />
anysuchpersonforprovidingtheprotectionsaffordedtotheirrespectivecustomersorclients,orforprovidingadviceinconnectionwith<br />
theOffers.<br />
<br />
<strong>The</strong>CompanyandtheDirectorsconsenttotheuseoftheProspectusandacceptresponsibilityforthecontentoftheProspectus,with<br />
respecttosubsequentresaleorfinalplacementofsecuritiesbyfinancialintermediaries,fromthedateoftheProspectusuntilthecloseof<br />
theOffers.<strong>The</strong>Offersareexpectedtocloseon30April2013,unlesspreviouslyextendedbytheDirectors,butmaynotextendbeyond9<br />
January2014.<strong>The</strong>rearenoconditionsattachingtothisconsent.FinancialintermediariesmayusetheProspectusintheUK.<br />
<br />
InformationonthetermsandconditionsoftheOfferswillbegiventoInvestorsbyfinancialintermediariesatthetimethattheOffers<br />
areintroducedtoInvestors.AnyfinancialintermediaryusingtheProspectusmuststateonitswebsitethatitisusingtheProspectusin<br />
accordancewiththisconsent.<br />
<br />
<strong>Downing</strong><strong>Planned</strong><strong>Exit</strong><strong>VCT</strong>2plc<br />
(IncorporatedinEnglandandWalesundertheCompaniesAct1985withregisterednumber05334418)<br />
<br />
OffersforSubscription<br />
forthe2012/13and2013/14taxyears<br />
ofupto25,000,000G<strong>Shares</strong>inthecapitaloftheCompany<br />
<br />
Sponsor<br />
Promoter<br />
HowardKennedyCorporateServicesLLP<br />
<strong>Downing</strong>LLP<br />
<br />
<br />
SharecapitaloftheCompanyimmediatelyfollowingtheOffers,assumingFullSubscription,ignoringtheoverallotmentfacility:<br />
<br />
<br />
Issuedandtobeissuedfullypaid<br />
Shareclass No.of<strong>Shares</strong> Nominalvalue<br />
A<strong>Shares</strong>(ISIN:GB00B3D74M80) 10,724,029 £10,724.03<br />
C<strong>Shares</strong>(ISIN:GB00B3D74S43) 7,131,356 £7,131.36<br />
D<strong>Shares</strong>(ISIN:GB00B4VR3D16) 10,000,000 £10,000.00<br />
E<strong>Shares</strong>(ISIN:GB00B4TLF407) 15,000,000 £15,000.00<br />
F<strong>Shares</strong>(ISIN:GB00B6ZS0J90) 10,822,154 £10,822.15<br />
G<strong>Shares</strong>(ISIN:GB00B8Y7CS47) 25,000,000 £25,000.00<br />
<br />
<strong>The</strong>subscriptionlistfortheOfferswillopenon10January2013andmaycloseatanytimethereafterbut,inanyevent,notlaterthan<br />
3.00p.m.on5April2013inthecaseofthe2012/13Offerandnotlaterthan3.00p.m.on30April2013inthecaseofthe2013/14Offer,<br />
unlesspreviouslyextendedbytheDirectors(buttonolaterthan9January2014).<strong>The</strong>termsandconditionsoftheOffersaresetouton<br />
pages 17 to 18 of this document and are followed by an Application Form for use in connection with the Offers. If the Minimum<br />
Subscription is not received by 3.00 p.m. on 5 April 2013, the Offers will be withdrawn and application monies will be returnedto<br />
applicantswithinsevendaysofsuchdate,attheirownrisk,withoutinterest.<strong>The</strong>Offersarenotunderwritten.<br />
<br />
AssumingFullSubscription,thenetproceedsoftheOfferswillbe£25million.IftheOffersareoversubscribed,theymaybeincreasedat<br />
thediscretionoftheBoardtonomorethan£35millionintotal.<br />
<br />
Yourattentionisdrawntotheriskfactorssetoutonpage1ofthisdocument.AninvestmentintheCompanyisonlysuitableforInvestorswho<br />
arecapableofevaluatingtherisksandmeritsofsuchaninvestmentandwhohavesufficientresourcestobearanylosswhichmightarise.<br />
<br />
ThisdocumentshouldbereadinconjunctionwiththeSummaryandRegistrationDocument,whichmaybeobtainedfromthePromoterof<br />
theOffers:<br />
<strong>Downing</strong>LLP<br />
telephone:02074167780<br />
10LowerGrosvenorPlace<br />
download:www.downing.co.uk<br />
LondonSW1W0EN<br />
email:vct@downing.co.uk
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