Baronsmead VCT 5 PLC Result of General Meeting (5896Q)
November 30 2016 - 9:47AM
UK Regulatory
TIDMBAV
RNS Number : 5896Q
Baronsmead VCT 5 PLC
30 November 2016
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR south
africa OR any jurisdiction in which the same could be unlawful. the
information contained herein does not constitute an offer of
securities for sale in any jurisdiction, including in the united
states, CANADA, australia, japan OR south africa.
BARONSMEAD VCT 5 PLC
(IN MEMBERS' VOLUNTARY LIQUIDATION)
RESULT OF GENERAL MEETING HELD ON 30 NOVEMBER 2016
Further to the proposals for the reconstruction and winding up
of Baronsmead VCT 5 plc (the "Company") which were announced on 17
October 2016, the special resolution placing the Company into
members' voluntary liquidation to permit the implementation of the
scheme of reconstruction and winding up of the Company under
section 110 of the Insolvency Act 1986 (the "Scheme") was duly
passed at the General Meeting held today.
For the purposes of the Scheme, the aggregate value of the total
net assets of the Company is GBP42,952,438. Under the terms of the
Scheme, the number of New Shares in Baronsmead Second Venture Trust
plc ("BSVT") to be issued to Shareholders is based on the adjusted
Net Asset Value of a BSVT Share (the "FAV per BSVT Share") and the
adjusted Net Asset Value of an Ordinary Share (the "FAV per BVCT5
Share") as at close of business on 28 November 2016. The FAV per
BSVT Share was 90.67 pence and the FAV per BVCT5 Share was 76.05
pence. Accordingly, Shareholders will receive approximately
0.838803 New Shares under the Scheme for every BVCT5 Share held by
them.
Share certificates in respect of New Shares issued in
certificated form are expected to be sent to Shareholders during
the week commencing 12 December 2016 (or as soon as practicable
thereafter).
The Company confirms that the listing of the Company's ordinary
shares on the Official List of the UK Listing Authority and the
trading in the Ordinary Shares on the main market of the London
Stock Exchange will be cancelled with effect from 8.00 a.m. on 2
December 2016.
A copy of the resolution passed at the General Meeting will
shortly be available for inspection via the National Storage
Mechanism.
The proxy votes cast on the resolution were as follows:
Votes "For*": 14,682,318
Votes "Against": 148,519
Votes "Withheld": 0
* the votes "For" include those votes giving the Chairman discretion.
Enquiries:
For further information please contact.
Michael Probin - VCT Investor Relations
Livingbridge VC LLP
020 7506 5796
Notes
Capitalised terms shall bear the meanings given to them in the
Company's circular dated 17 October 2016 unless the context
otherwise requires.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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