Maven Income & Growth VCT 4 PLC Merger Update (8035X)
13 Februar 2013 - 1:11PM
UK Regulatory
TIDMMAV4 TIDMORT TIDMMAVS
RNS Number : 8035X
Maven Income & Growth VCT 4 PLC
13 February 2013
Joint Announcement
Maven Income and Growth VCT 4 PLC
Ortus VCT PLC
Merger Update and Potential Top Up Offer
The boards of Maven Income and Growth VCT 4 PLC ("MIG 4") and
Ortus VCT PLC ("Ortus") are pleased to confirm that, further to
their announcement on 31 October 2012, they have reached agreement
in principle to merge the companies.
As previously announced and subject to approval of shareholders
of both companies, the merger will be completed pursuant to a s.110
scheme of reconstruction under the Insolvency Act 1986 by
transferring the assets and liabilities of Ortus to MIG 4 in
consideration for new shares in MIG 4 to be issued to shareholders
of Ortus on a relative net asset value basis. A merger on this
basis will be outside the provisions of The City Code on Takeovers
and Mergers.
It is also intended that MIG 4 will seek shareholder approval to
consolidate its share capital by merging the S ordinary shares into
the ordinary shares prior to the merger being effected.
In addition, MIG 4 also intends to take the opportunity to raise
further funds by making available a top-up offer in respect of its
ordinary share class.
Full terms of the merger, MIG 4 share consolidation and MIG 4
top-up offer are expected to be provided to shareholders shortly,
at which point a further announcement will be made.
Maven Capital Partners UK LLP
Secretary
13 February 2013
Enquiries:
Maven Capital Partners UK LLP
0141 306 7400
enquries@mavencp.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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