The Directors of Unicorn AIM VCT announced that they expect the current £20m offer for subscription plus £5m overallotment facility will be oversubscribed.
The offer opened for subscription on 13 February and the overallotment facility was triggered on 12 March. The Directors have been advised that, on the basis of the applications now received and assuming that they are all accepted, the full Offer will be oversubscribed.
Unicorn Asset Management, one of the UK’s leading specialist investors has managed the Company’s investment portfolio since inception in 2001. It is the largest and one of the best performing AIM-focused VCTs, with current net assets of c.£200 million.
Chris Hutchinson, Fund Manager at Unicorn Asset Management commented:“Despite a challenging fundraising backdrop, particularly for AIM Venture Capital Trusts, it remains clear to us that the opportunities for long-term growth within the AIM market are compelling.
“History suggests that high-quality companies with strong fundamentals can thrive, even in difficult conditions, and AIM has long served as a launchpad for such businesses. The resilience and innovation seen across our portfolio give us confidence that, even in turbulent times, AIM can continue to produce the success stories of the future. The continued support from our investor base underscores the trust placed in our team, our ability to navigate complex economic environments, and the opportunities we foresee following a difficult period for AIM.”
Key points as at 31 December 2024;
- The largest AIM focused VCT with net assets of £194 million
- ~70% of assets by VCT Value invested in more than 80 VCT qualifying holdings
- Approximately £32 million returned to shareholders via ordinary dividends during financial year to 30 September 2024
- Recent exits include Interactive Investor (16x), Abcam (18x), Keyword studios (19.9x) and Mattioli Woods (4x)
- 137.7p per share in dividends paid over past 13 years (>70p paid over last 3 years)
A link to the RNS on this announcement can be found here.
Sources: Unicorn Asset Management. All figures as at 28 February 2025, unless stated otherwise.
*The first Unicorn AIM VCT was launched in 2001, with the existing class of ordinary shares issued in February 2007. This VCT subsequently merged with Unicorn AIM VCT II plc in March 2010 to create what is now the largest AIM-focussed VCT in the market.
