30 June 2022
Seneca Growth Capital VCT Plc
Issue of Supplementary Prospectus
The Board of Seneca Growth Capital VCT Plc (the “Company”) is pleased to announce that the Company has today published a supplementary prospectus (the “Supplementary Prospectus”) relating to the offer of subscription for B ordinary shares of 1p each in the Company, details of which were set out in a prospectus issued by the Company on 29 October 2021 (the “Offer”).
The Supplementary Prospectus relates to the change in Seneca Partners Limited’s FCA Alternative Investment Fund Manager (“AIFM”) status from small-scope to full-scope.
As noted in the Prospectus, Seneca Partners Limited (“Seneca Partners”), the Company’s Investment Manager, applied to the FCA for a full-scope UK AIFM permission (as defined in regulation 2 of the Alternative Investment Fund Managers Regulations 2013 (as amended)) on 19 July 2021. This application was approved by the FCA on 16 June 2022.
The main benefit for Seneca Partners of being a Full Scope AIFM is that there is now no limit on the value of funds it can have under management. This has been a lengthy process which has involved the FCA taking an in depth look at Seneca Partners’ processes, financial resilience and how it treats customers. The Board believes this is a great achievement for Seneca Partners to meet the standards required for being a full-scope AIFM.
The Supplementary Prospectus has been approved by the Financial Conduct Authority, and copies will shortly be available for inspection at the National Storage Mechanism, which is located at: https://data.fca.org.uk/#/nsm/nationalstoragemechanism, and from the Company's website: https://senecavct.co.uk/current-offer/.
The Offer by the Company remains open for the 2022/23 tax year.
For further information, please contact:
John Hustler, Seneca Growth Capital VCT Plc at firstname.lastname@example.org
Richard Manley, Seneca Growth Capital VCT Plc at Richard.Manley@senecapartners.co.uk
Any enquiries in respect of the Offer should be directed to:
Seneca Partners Limited
01942 295 981