Downing ONE VCT plc
The Offer for Subscription has now reached capacity and no further applications will be accepted (20 March 2018).
We have launched Downing ONE VCT with a £20 million top-up raise, offering a generalist strategy and a regular income stream with the benefit of attractive VCT tax reliefs. It has a diversified portfolio of approximately 80 companies in one of the UK’s larger VCTs, with access to existing investments in solar energy, hotels and care homes.
We seek to provide attractive returns through VCT-qualifying growth investments and income focused investments.
Downing ONE VCT targets a dividend of at least 4% p.a. - equivalent to a 5.7% p.a. tax-free yield on the current offer price (after 30% income tax relief). Investors can also reinvest dividends by subscribing for new shares, which could qualify for the usual VCT tax benefits.
Alongside the standard lump sum available for one-off subscriptions, we are introducing the option for investors to subscribe monthly by way of a standing order. Share allotments will be made at least quarterly with tax and share certificates issued accordingly.
|Minimum subscription: £5,000 lump sum or £500 per month.||Maximum subscription: £200,000 lump sum or £16,666 per month.|
Method of payment for application
Payments for applications can be made by cheque, made payable to:
Downing ONE VCT plc, or by electronic bank transfer using the payment details below.
How to apply
If you would like to invest, please first read the Prospectus before completing an application form.
The key risks are set out below. Please read the Prospectus for a full list of risk factors:
- You may lose money: the value of shares may go down as well as up and shareholders may not receive back the full amount invested. In addition, there is no certainty as to the level of dividends.
- The tax reliefs are not guaranteed: the availability of the tax reliefs depends on the companies invested in maintaining their qualifying status. If the VCT does not maintain VCT qualifying status investors could lose the upfront 30% income tax relief and all other tax reliefs. All tax reliefs are subject to change in the future and personal circumstances. Please refer to HM Revenue & Customs’ website for further guidance on the tax reliefs available on VCT investments.
- Investments are long term and high risk: it may prove difficult for shareholders to sell their shares at a fair price, or at all.
- Investment performance: the VCT will invest in small unquoted and AIM-quoted companies which, by their nature, are higher risk than larger “bluechip” companies. Shares in such companies may be difficult to sell.
- You cannot rely on past performance: past performance is not a reliable indicator of future performance.
- Investment restrictions: the VCT’s ability to obtain maximum value from its investments may be limited by the VCT rules. Changes in the VCT rules may be applied retrospectively and may reduce the level of returns for investors.
- Speculative risk: the value of shares may go down as well as up and shareholders may not receive back the full amount invested. In addition, there is no certainty as to the level of exit proceeds.