Puma VCT 13 PLCLSE: PU13

Puma VCT 13: Publication of a Prospectus

· Issued by Puma VCT 13 PLC via RNS

Summary by 6ix AI

Puma VCT 13 plc, a venture capital trust (VCT), issued a prospectus dated November 2, 2026, following approval from the Financial Conduct Authority. It offers ordinary shares of £0.0005 each to raise up to £50 million, plus an over-allotment facility (an option to raise up to a further £20 million). The offer is now open.

Key details

  • Under an offer agreement dated November 2, 2026, Puma Investment Management Limited (PIML), the promoter of the offer, will receive a promoter fee of up to 3% of the aggregate amount the company receives under the offer.
  • Because PIML is the company's investment manager, UK Listing Rules treat it as a related party, so the fee is a related party transaction. The board considers it fair and reasonable for shareholders, with written confirmation from the company's sponsor, Howard Kennedy Corporate Services LLP.

What’s still pending

  • The offer is expected to close no later than April 5, 2027 for shares to be allotted in the 2026/27 tax year.
  • If the directors extend the offer, it would close no later than September 3, 2027 for shares to be allotted in the 2027/28 tax year, unless fully subscribed earlier or previously extended by the directors to no later than October 20, 2027.

6ix AI wrote this summary from the release below and checked it against the release.

On 6ix: 6ix.com/news/publication-of-a-prospectus-117

Puma VCT 13 PLC
02 November 2026
 

Puma VCT 13 plc (the "Company")

2 November 2026

Publication of Prospectus

The Company has issued a prospectus dated 2 November 2026 relating to an offer for subscription for ordinary shares of £0.0005 each in the Company to raise up to £50 million with an over-allotment facility of up to a further £20 million (the "Offer"), following approval from the Financial Conduct Authority.

The Offer is now open and is expected to close no later than 5 April 2027 for shares to be allotted in the 2026/27 tax year and, if the Offer is extended beyond that date by the directors of the Company (the "Directors"), no later than 3 September 2027 for shares to be allotted in the 2027/28 tax year (unless fully subscribed by an earlier date or previously extended by the Directors to no later than 20 October 2027).

Pursuant to an offer agreement dated 2 November 2026 relating to the Offer between, among others, the Company and Puma Investment Management Limited ("PIML"), PIML, as the promoter of the Offer, will receive a promoter fee of up to 3% of the aggregate amount received by the Company under the Offer. PIML, as the investment manager of the Company, is a related party of the Company under UK Listing Rule 11.5.3R, and the payment of such a fee by the Company to PIML is a relevant related party transaction of an adequate size under UK Listing Rule 11.5.4R for UK Listing Rule 8.2.1R(1) to (4) to apply. The Board considers this transaction fair and reasonable as far as the shareholders of the Company are concerned and have been provided with written confirmation of this by the Company's sponsor, Howard Kennedy Corporate Services LLP.

A copy of the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for viewing online at the following website address: https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 

Copies of the Prospectus are also available free of charge from the office of the Company's investment manager, Puma Investment Management Limited, Cassini House, 57 St James's Street, London SW1A 1LD.

For further information please contact:

Rupert West on 0207 408 4050.

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