9 September 2024

Blackfinch Spring VCT plc (the "Company")

Publication of Prospectus and Circular

The Company has issued a prospectus dated 9 September 2024 (the "Prospectus"), relating to a proposed offer for subscription of ordinary shares of 1p each in the Company ("Shares") to raise up to £20 million with an over-allotment of up to a further £20 million (the "Offer"), and a circular (the "Circular") in connection with the Offer, following approval from the Financial Conduct Authority.

The Circular includes a notice of a general meeting to be held on 10 October 2024 (the "General Meeting").

Pursuant to an agreement dated 9 September 2024 relating to the Offer between, inter alia, the Company and Blackfinch Investments Limited, the Company's investment manager (the "Manager"), the Manager will receive:

·      an initial charge of 2.5 per cent. of the gross funds raised under the Offer by the Company; and

·      a further charge of up to 3 per cent of gross funds raised under the Offer by the Company from investors who have not invested their money through a financial intermediary ("Direct Investors");

As the Manager is the Company's investment manager and, therefore, a related party of the Company under the UK Listing Rules, the payment of the above fees by the Company to the Manager is a transaction to which UK Listing Rule 11.5.5 applies. Accordingly, the Offer is conditional on shareholders passing Resolution 1 at the General Meeting.

The Offer will open on 9 September 2024 and will close at 5pm on 3 April 2025 for the 2024/2025 tax year and 5pm on 20 August 2025 for the 2025/2026 tax year, or earlier if the Offer is fully subscribed. The board of the Company reserves the right to close the Offer earlier.

The Prospectus and Circular will shortly be available for inspection at the National Storage Mechanism, which is located at:

https://data.fca.org.uk/#/nsm/nationalstoragemechanism

and on the Company's website

www.blackfinch.ventures/vct

For further information please contact:

Blackfinch Investments Limited (Investment Manager)

01452 717070

The City Partnership (UK) Limited (Company Secretary)

enquiries@city.uk.com