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Framlington’s second Aim VCT seeking 35m

Framlington is looking to raise 35m with the launch of its second Aim VCT.

Brian Watson, who runs the firm’s first Aim VCT, which raised 24.6m in 2004/05 after being launched last December, will be lead manager.

Watson will be supported by the UK team, which inclu- des Roger Whiteoak, Nigel Thomas, Richard Peirson and George Luckraft.

Watson has over 27 years investment experience, focusing on smaller companies, and has been investing in Aim companies since the market opened in 1995.

Framlington expects returns will be distributed to shareholders largely through long-term dividends. The closing date for applications is Dec- ember 31.

Watson says: “The fund will search out innovative and entrepreneurial companies with attractive valuations and the potential for long-term capital growth.”

Chelsea Financial Services VCT manager Matthew Woodbridge says: “Framlington had a successful fund-raising earlier this year and I expect the current offer to be just as popular. Due to Framlington’s reputation in the UK investment sector and its extensive network of contacts and regional brokers, we anticipate there will be more than sufficient dealflow for the management to sift through for quality investment opportunities.”

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