Downing Plan VCT 7 Downing Planned Exit Vct 7 Plc : Tender Offer
27 November 2013 - 6:38PM
UK Regulatory
TIDMDPV7
DOWNING PLANNED EXIT VCT 6 PLC
DOWNING PLANNED EXIT VCT 7 PLC
JOINT ANNOUNCEMENT
27 NOVEMBER 2013
TENDER OFFERS
The Boards of Downing Planned Exit VCT 6 plc and Downing Planned Exit
VCT 7 plc (the, "Companies" and each a "Company") announce proposals for
each Company to make a tender offer to purchase their own ordinary
shares ("Shares") up to the number set out below (the "Tender Offers").
Downing Planned Exit VCT 6 plc: 3,072,197
Downing Planned Exit VCT 7 plc: 3,225,806
The Companies have today published a joint circular to their
shareholders (the "Circular") setting out the background to and reasons
for the Tender Offers and seeking Shareholder approval of the Tender
Offers at general meetings of the Companies, each to be held on 20
December 2013 in accordance with the notices of general meeting set out
in the Circular.
In each case, the Tender Price will based on the latest announced Net
Asset Value per Share of each Company immediately prior to the Tender
Offer, less the costs of the Tender Offer, which are expected to be
approximately 1.18 pence per Share. Based on the Net Asset Value per
Share as at 31 July 2013, the Tender Price would be 63.62 pence per
Share.
The Tender Offers will be made available to holders of Shares on the
relevant Companies' register as at 26 November 2013.
A copy of the Circular has been submitted to the UK Listing Authority
and will shortly be available for download both from www.downing.co.uk
and the national storage mechanism (www.morningstar.co.uk/uk/NSM).
For further information, please contact:
Grant Whitehouse - Telephone: 0207 416 7780
(Company Secretary to the Companies)
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Downing Planned Exit VCT 7 PLC via Globenewswire
HUG#1746271
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