Merger Update
12 August 2010 - 4:29PM
UK Regulatory
TIDMOPHX
OCTOPUS PHOENIX VCT PLC
General Meeting Results and Merger Update
12 August 2010
This announcement is made by Octopus Phoenix VCT plc ("the Company") in
connection with the proposed merger of the Company with Octopus AIM VCT plc
("AIM VCT") ("Scheme") details of which were contained in the Company's circular
to shareholders ("the Circular") dated 9 July 2010.
The board of directors of the Company ("the Board") is pleased to announce that
the resolution, to approve the Company being placed into liquidation, appoint
the liquidators and cancel the listing of the Company's shares, proposed at the
general meeting of the Company held today was duly passed.
Details of the proxy votes received in respect of the resolution passed at the
general meeting are set out below:
Votes Percentage of Votes Cast (%)
For 2,900,891 (94.98%)
Against 20,887 (0.68%)
Discretion 132,641 (4.34%)
Withheld 3,000 -
A copy of the resolution passed at the general meeting will be submitted to the
UK Listing Authority and will shortly be available for inspection at the UK
Listing Authority's Document Viewing Facility, whose address is as set out at
the bottom of this announcement.
Accordingly, by way of implementation of the Scheme, the Company has been placed
into members' voluntary liquidation and the assets and liabilities of the
Company transferred to AIM VCT in consideration for the issue of new ordinary
shares of 1 pence each in the capital of AIM VCT ("AIM VCT Shares"). The total
number of AIM VCT Shares issued to the Company's shareholders was 7,935,637 at a
deemed issue price of 83.823044p per share.
Application will shortly be made for all the AIM VCT Shares issued pursuant to
the Scheme to be admitted to the Official List and to trading on the main market
of the London Stock Exchange. It is expected that admission will become
effective and that trading will commence on 13 August 2010.
As part of the Scheme, the suspension of the listing of the Company's shares
took place at 7.30 am today and the cancellation of the Company's shares will
take place from the commencement of trading on 13 August 2010.
The UK Listing Authority's Document Viewing Facility, is situated at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Telephone: 020 7066 1000
For further enquiries please contact:
Celia Whitten FCIS
Company Secretary
8 Angel Court
London
EC2R 7HP
Telephone: 0207 710 2849
[HUG#1437664]
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
All reproduction for further distribution is prohibited.
Source: Octopus Phoenix VCT plc via Thomson Reuters ONE
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