Hargreave Hale Aim VCT Plc, formerly Hargreave Hale Aim VCT 1 Plc is a UK-based investment company. Its roots dates back to 1897, when Marsden W Hargreave founded a stock broking company in Blackpool. The company is an established Venture Capital Trust (VCT) with an objective to deliver high capital gains and income to its shareholders whist maintaining its status as a VCT. The company primarily invests as its qualifying investments across businesses listed on the Alternative Investment Market (AIM) of the London Stock Exchange and it may also invest in private businesses, Non-Qualifying Investments in equity and Exchange Traded Funds (ETFs) listed on the main market of the London Stock Exchange and Investment in bank deposits, income securities and the Marlborough Special Situations Funds may also be allowed by the VCT Rules. In 2017 the company became the member of the Canaccord Genuity Wealth Management (CGWM) group and a wholly owned subsidiary of Canaccord Genuity Group Inc. in 2018 the company got merged with Hargreave Hale Aim VCT 2 Plc. the company’s shares are traded on the London Stock Market as LON: HHV.
The company has appointed Hargreave Hale Limited as its investment manager. The company aims to achieve its investment objectives by making qualifying investment in Alternative Investment Market (AIM) listed companies, companies quoted on AQSE Growth Market, Private companies and Non-Qualifying investments as permitted by VCT Rules. To maintain its status as VCT the company need to raise 80% of the funds from the issue of shares invested in qualifying investments all over the accounting period the VCT starting no later than three years after the date on which shares are issued. Investment in Non-Qualifying investments depends on the investment manager’s view of the market and its market value may vary between 0 to 50% of the net assets of the company. The value of funds held in bank deposit may vary between 0 to 30% of its net assets.
The company may also make co-investment in investee firms along other funds, such as other funds managed by the investment manager, excluding bank deposits and no single investment should constitute more than 10% of its net assets. The company may use borrowings up to 15% of its adjusted share capital and reserves.
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