Unicorn AIM VCT has announced its intention to launch a new offer for subscription to raise £20million, with an over-allotment facility to raise a further £5 million, through the issue of new ordinary shares.
Unicorn Asset Management has managed the Company’s investment portfolio since inception in 2001. It has current net assets of c.£200 million.
Unicorn invests in UK equities across a range of strategies – with a further £140 million invested in AIM-listed companies outside of the VCT. The Unicorn AIM VCT has returned 137.7 pence per share to shareholders since March 2010.
Chris Hutchinson, Portfolio Manager & Director at Unicorn Asset Management commented: “Unicorn’s AIM-focused VCT has a strong track record of providing reliable, tax-free dividends and delivering substantial long-term capital growth to its shareholders.
“Despite the market challenges faced in recent years, many of the AIM-listed companies in our portfolio have shown remarkable resilience. Our core holdings are in well-established, profitable businesses that generate strong cash flows, with a focus on niche sectors that continue to thrive, even in a difficult economic and equity market environment.”
Fraser Mackersie, Portfolio Manager at Unicorn Asset Management added; “We maintain a highly selective approach to identifying new investments. We are confident in our ability to uncover promising opportunities that, over time, can achieve the important combination of delivering tax-free dividend income alongside meaningful capital growth.”
The prospectus containing the full details and terms and conditions of the offer is expected to be available in January 2025.
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