CYS Chrysalis Vct Plc

RNS Number:2291J
Chrysalis VCT PLC
02 March 2005


Not for release, distribution or publication, in whole or in part, in or into
the United States, Canada, Australia or Japan

2 March 2005
                                     Merger

                        by way of recommended offers by

                  Smith & Williamson Corporate Finance Limited

                                  on behalf of

                        Chrysalis VCT plc ("Chrysalis")

                                  for each of

                      Chrysalis A VCT plc ("Chrysalis A"),
                    Chrysalis B VCT plc ("Chrysalis B") and
                      Chrysalis C VCT plc ("Chrysalis C")
                      (together the "Chrysalis Companies")

                 Offers declared unconditional in all respects

Chrysalis announces that, following Admission becoming effective earlier today,
the Offers are unconditional in all respects.

Consideration payable under the Offers will be paid (in the manner set out in
the Offer Document) by 16 March 2005 to those Chrysalis Companies Shareholders
in respect of whom valid acceptances have been received by today. Consideration
in respect of valid acceptances of the Offers received after today will be paid
to accepting Chrysalis Companies Shareholders within 14 days of such receipt.

The Special Dividends described in the Offer Document will be paid on 16 March
2005 to Chrysalis Companies Shareholders on the Chrysalis Companies' registers
of members at the close of business on 1 March 2005 (the record date).

As a result of the Offers being declared unconditional in all respects,
applications will be made to the UKLA for the cancellation of the listing of
Chrysalis Companies Shares on the Official List and to the London Stock Exchange
for the cancellation of trading of Chrysalis Companies Shares on its market for
listed securities. It is expected that such cancellations will take effect from
28 April 2005.


Enquiries:

Smith & Williamson
Tel: 020 7637 5377
Dr A Basirov
David Jones


Terms used in this announcement shall have the same meaning as those in the
Offer Document and Listing Particulars.

This announcement does not constitute an offer or an invitation to purchase or
subscribe for any securities. The Offers are being made solely by the Offer
Document and the Forms of Acceptance, which contain the full terms and
conditions of the Offers, including details of how the Offers may be accepted.

Smith & Williamson Corporate Finance Limited, which is authorised and regulated
in the United Kingdom by the Financial Services Authority, is acting exclusively
for Chrysalis VCT plc and no one else in connection with the Offers and will not
be responsible to anyone other than Chrysalis VCT plc for providing the
protections afforded to customers of Smith & Williamson Corporate Finance
Limited nor for providing advice in relation to the Offers or any other matter
referred to herein.

The Offers are not being made, directly or indirectly, in or into the United
States, Canada, Australia or Japan and the Offer Document and the Forms of
Acceptance are not being, and should not be, mailed or otherwise distributed or
sent in or into the United States, Canada, Australia or Japan or any other
jurisdiction if, in the latter case, to do so would constitute a violation of
the relevant laws in such jurisdiction.

The New Chrysalis Shares have not been, and will not be, registered under the
United States Securities Act of 1933 (as amended) or under any relevant
securities laws of any state or jurisdiction of the United States, Canada,
Australia or Japan and no regulatory clearances in respect of the New Chrysalis
Shares have been, or will be, applied for in any jurisdiction. Accordingly,
unless an exemption under the United States Securities Act of 1933 (as amended)
or other relevant securities laws is applicable, the New Chrysalis Shares will
not be, and may not be, offered, sold, resold, delivered or distributed,
directly or indirectly, in or into the United States, Canada, Australia or Japan
or to, or for the account or benefit of, any United States person or person
resident in Canada, Australia or Japan.


                      This information is provided by RNS
            The company news service from the London Stock Exchange

END
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