Ingenious Entertainment VCT 1 & 2 were successfully launched in November 2007, raising a combined amount of over £20 million. The C share offer will increase the size of the funds available, resulting in the VCTs being able to make more investments and spread their fixed costs over a larger asset base. This will result in economies of scale which ultimately aim to increase overall profitability to the benefit of all shareholders.
The C share offer opened at 8am on 29 September 2008 and will close at 3pm on 4 April 2009 or, if earlier, the date on which the offer is fully subscribed.
Early Application Incentive
Investors subscribing for shares before 31 October 2008 will be entitled to receive 25 additional shares for every 1,000 subscribed for, subject to a maximum of 50,000 additional shares that can be allocated in total. Thereafter, the earliest subscribers will be entitled to receive 16 additional shares for every 1,000 subscribed for, until any remaining additional shares have been allocated, or 31 March 2009, if earlier.
For full details of the offer
click here to visit the Ingenious VCT website|
An investment in a Venture Capital Trust (VCT) may not be suitable for all investors, and should be considered to be a longer term investment. You should only subscribe for shares in the Ingenious Entertainment VCT 1 & 2 on the basis of information contained in the Prospectus, which is accessible via the links above. In particular, your attention is drawn to the risk factors set out in the Prospectus documents. When considering what action to take you are recommended to seek your own personal financial advice from an appropriately authorised independent financial adviser. You should also seek advice about your own personal financial position in relation to entitlement to tax reliefs associated with an investment in the VCTs.
A VCT must invest 70% in qualifying investments within 3 years and you must hold the investment for 5 years to retain the 30% income tax relief. Tax rules and regulations are subject to change. VCTs may be higher risk and more difficult to realise than investing in other securities listed in the Official List of the UK Listing Authority and admitted to trading on the London Stock Exchange. The secondary market for shares in VCTs is limited and as a result shares in VCTs can trade at a discount to the net asset value. Past performance should not be seen as an indication of future performance. The value of shares in a VCT, and any income from them, may fall as well as rise and investors may not get back what they originally invested, even taking into account the tax breaks. VCTs are designed to provide capital for small companies and each VCT will invest in several companies. As such, there is a risk that these companies may not perform as hoped and in some circumstances may fail completely.