Puma VCT 12
Closed for investment
106.79p
Net Asset Value at period end (including dividends paid)
Launched in August 2015, Puma VCT 12 was established with the intention that it would have a limited life. As stated in the Company's prospectus dated 14 October 2015 and in the Company's interim report for the six months ended 31 August 2021, it was envisaged that the Board would convene a General Meeting of the Company following its fifth anniversary at which resolutions would be proposed to place the Company into members' solvent liquidation.
However, in light of the Covid-19 outbreak, it was likely that a number of potential exits from portfolio companies would be delayed until there was a greater degree of economic certainty. The Board has kept this under regular review and given the greater economic certainty as we have emerged from the Covid-19 pandemic, as well as the Company’s sales of its investments in Tictrac and SEN, the Board has agreed to progress the liquidation process.
Cancellation of the listing of the Company's Shares on the Official List of the Financial Conduct Authority took place on 24 June 2022, and subsequently shares ceased trading on the London Stock Exchange.
Risk Factors
An investment in Puma VCT 12 carries risk and investors should always take independent advice. Individuals should only invest in Puma VCT 12 on the basis of the prospectus which details the risks of the investment. Below are the key risks:
Tax reliefs: Tax reliefs are not guaranteed, depend on individuals’ personal circumstances and a five-year minimum holding period, and may be subject to change.
Liquidity: It is unlikely there will be a liquid market in the ordinary shares of Puma VCT 12 and it may prove difficult for investors to realise their investment immediately or in full.
Capital at risk: An investment in Puma VCT 12 involves a high degree of risk. Investors’ capital may be at risk.
General: Past performance of Puma Investments in relation to its other VCTs is no indication of future results. The payment of dividends is not guaranteed. Investors have no direct right of action against Puma Investments. The Financial Ombudsman Service/the Financial Services Compensation Scheme are not available.
Figures on this page are taken from Puma Investments and are correct as of 1 August 2022 unless stated otherwise.