Buffetology prospectus published – Further to the announcement made by Buffettology Smaller Companies Investment Trust Plc, a newly established investment trust, on 25 September 2020, the company has today published a prospectus in connection with its initial public offering (“IPO”).
The company is seeking to raise a minimum of £100m through the issue of ordinary shares at an issue price of 100 pence per share via an Initial Placing, an Offer for Subscription and an Intermediaries Offer. A subsequent placing programme will allow the company to issue up to 350m shares (including the shares issued in this initial issue) in the twelve months from the date of the prospectus.
Further details of the initial issue and the placing programme are set out in the prospectus, which is available here, and will shortly be available on the company’s website at www.buffettologyIT.co.uk , subject to certain access restrictions – as the prospectus makes clear, access to the issue is subject to some geographical restrictions. Make sure you read these.
A copy of the prospectus will also be submitted to the National Storage Mechanism and will shortly be available for inspection at https://www.fca.org.uk/markets/primary-markets/regulatory-disclosures/national-storage-mechanism.
Expected timetable
Initial Issue:
- Placing opens 30 September 2020
- Offer for Subscription opens 30 September 2020
- Latest time and date for receipt of completed Application Forms under the Offer for Subscription and payment in full or settlement of the relevant CREST instruction 11.00 a.m. on 23 October 2020
- Latest time and date for receipt of Placing orders 12:00 noon on 23 October 2020
- Latest time and date for receipt of completed applications from the Intermediaries in respect of the Intermediaries Offer 3.00 p.m. on 23 October 2020
- Announcement of the results of the Initial Issue 26 October 2020
- Initial Admission of the Ordinary Shares and dealings commence 8:00 a.m. on 29 October 2020
- CREST accounts credited in respect of Ordinary Shares issued in uncertificated form as soon as practicable after 8:00 a.m. on 29 October 2020
- Certificates despatched in respect of Ordinary Shares issued in certificated form week commencing 2 November 2020