Ortus VCT PLC GM and Merger Result (4827B)
03 April 2013 - 2:52PM
UK Regulatory
TIDMORT
RNS Number : 4827B
Ortus VCT PLC
03 April 2013
Ortus VCT PLC ("Company")
GM and Merger Result
3 April 2013
This announcement is made by Ortus VCT PLC ("the Company") in
connection with the merger of the Company with Maven Income &
Growth VCT 4 PLC ("MIG 4") to be completed by way of a scheme of
reconstruction of the Company pursuant to Section 110 of the
Insolvency Act 1986 ("Scheme") and the transfer by the Company of
all of its assets and liabilities to MIG 4 ("Scheme"), details of
which were contained in MIG 4's prospectus ("the Prospectus") and
the Company's circular to shareholders ("the Circular") both dated
1 March 2013.
The board is pleased to announce that at the general meeting of
the Company held on 3 April 2013, the resolution to approve the
Company being placed in liquidation, appoint the liquidators and
cancel the listing of the Company's shares, as set out in the
Circular, was duly passed on a poll, with 8,095,580 votes cast
being in favour and 27,231 votes cast being against. With regards
to the proxy votes received, 99.66% were cast in favour (or at the
Chairman's discretion).
A copy of the resolution passed at the above meeting will
shortly be available for inspection on both the Company's
website(www.mavencp.com) as well as at the National Storage
Mechanism (www.morningstar.co.uk/uk/NSM ).
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 MIG 4 in
consideration for the issue of new ordinary shares of 10p each
("MIG 4 Ordinary Shares") and new C ordinary shares of 10p each
("MIG 4 C Shares"), in each case in the capital of MIG 4 (together
"MIG 4 Shares"). The total number of MIG 4 Ordinary Shares issued
to the Company's shareholders was 6,853,086, at a deemed issue
price of 94.24p per share (on a ratio of 0.189778) and total number
of MIG 4 C Shares issued to the Company's shareholders was
3,968,876, at a deemed issue price of GBP1.00 per share (on a ratio
of 0.109907).
Application will shortly be made for all the MIG 4 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 4 April 2013. CREST accounts are also expected to be
credited on 4 April 2013.
As part of the Scheme, the suspension of the listing of the
Company's shares took place at 7.30 a.m. today (3 April 2013) and
the cancellation of the Company's shares will take place from the
commencement of trading on 30 April 2013.
For further enquiries please contact:
Maven Capital Partners UK LLP
0141 306 7400
enquiries@mavencp.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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