Unicorn AIM VCT has today launched an offer for subscription to raise £25 million, through the issue of new ordinary shares.
Unicorn Asset Management has been one of the leading institutional investors in the AIM market since its inception in 2000. The VCT, managed by Chris Hutchinson (pictured), is the largest AIM-focused VCT with net assets of over £350 million (as at 31/12/2021).
The Unicorn team brings its considerable experience and success in small cap investing to the VCT. Unicorn manages over £1.4 billion of assets across a range of funds, of which over £550 million is specifically invested in AIM-listed companies.
The last offer for subscription in 2021 closed early, having reached full subscription in 2 weeks following strong investor support.
Since launch in 2001, Unicorn AIM VCT has delivered strong total capital gains and a consistent income stream to shareholders. It has returned 67.5 pence per share in tax-free dividend income to eligible shareholders since the merger of the Company with Unicorn AIM VCT II plc on 9 March 2010. A further 10.5 pence per share is due to be paid, subject to shareholder approval, following the Company’s Annual General Meeting on 3 February 2022.
Chris Hutchinson, lead manager of the Unicorn AIM VCT commented: “Unicorn’s AIM-focused VCT has a long established track record of delivering attractive and sustainable tax-free dividend income, while also generating meaningful tax-free capital gains for shareholders over the longer term. The VCT has a strong investor following, demonstrated by the speed in which the offer for subscription reached full capacity last year. We remain confident that we will continue to find investment opportunities that, over time, are capable of delivering this important combination of tax-free dividend income and capital growth.”