Hargreave Hale seeks to raise £20m for AIM VCTs

Managed by Giles Hargreave and Oliver Bedford

Hargreave Hale is looking to raise £20m for its VCTs, co-managed by Giles Hargreave and Oliver Bedford, through an offer for subscription to new and existing shareholders.

Launched in 2004, Hargreave Hale AIM VCT 1 and Hargreave Hale AIM VCT 2 offer investors access to a portfolio of small companies traded on AIM. The VCTs offer a share buyback policy and target a tax free dividend yield of 5%, while also providing upfront tax relief of 30% as long as sufficient income tax is paid and shares have been held for at least five years. The share offer opened on 14 December 2016 and will close on 17 November 2017, unless capacity is met sooner. The offer for both VCTs is £10m, with a maximum individual investment which qualifies for income tax relief of £2...