Unicorn AIM VCT (‘the Company’) has announced its intention to launch a new offer for subscription to raise £20 million, with an over-allotment facility to raise a further £5 million, through the issue of new ordinary shares.
The Company’s previous £20 million offer was the fastest to reach full subscription among all VCTs during the 2023/24 tax year, highlighting strong investor demand¹.
Unicorn Asset Management (‘Unicorn’), 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 million².
The Unicorn investment team brings considerable experience and success in small cap investing to the VCT. Unicorn invests in UK equities across a range of strategies – with a further £140 million invested in AIM-listed companies outside of the VCT².
Since launch in 2001, the award-winning Unicorn AIM VCT has delivered strong total capital gains and provided shareholders with consistent, tax-free dividend income. It has returned 137.7 pence per share to shareholders since March 2010²*.
Chris Hutchinson, Portfolio Manager & Director at Unicorn Asset Management commented: “Unicorn’s AIM-focused VCT has a strong track record of providing reliable, tax-free dividends and delivering substantial long-term capital growth to its shareholders.
“Despite the market challenges faced in recent years, many of the AIM-listed companies in our portfolio have shown remarkable resilience. Our core holdings are in well-established, profitable businesses that generate strong cash flows, with a focus on niche sectors that continue to thrive, even in a difficult economic and equity market environment.”
Fraser Mackersie, Portfolio Manager at Unicorn Asset Management added; “We maintain a highly selective approach to identifying new investments. We are confident in our ability to uncover promising opportunities that, over time, can achieve the important combination of delivering tax-free dividend income alongside meaningful capital growth.”
The prospectus containing the full details and terms and conditions of the offer is expected to be available in January 2025.
A link to the RNS on this announcement can be found HERE.
¹ Source: City AM
² Source: Unicorn Asset Management. All figures as at 30 September 2024
*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.
