Result of EGM
July 16 2009 - 12:22PM
UK Regulatory
TIDMCR2 TIDMCR. TIDMCR3
RNS Number : 8309V
Core VCT II PLC
16 July 2009
Core VCT II plc
EGM Results and Merger Update
16 July 2009
This announcement is made by Core VCT II plc ("the Company") in connection with
its scheme of reconstruction and the scheme of reconstruction of Core VCT I plc
("VCT I") for the merger of the Company and VCT I with Core VCT III plc ("the
Schemes" and each a "Scheme"), details of which were contained in the Company's
circular to shareholders dated 12 June 2009 ("the Circular").
The board of directors of the Company ("the Board") is pleased to announce that
resolutions proposed at the extraordinary general meetings of the Company and
VCT I held today were duly passed. A copy of the resolution passed at the
extraordinary general meeting of the Company 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 Schemes, the Company and VCT I have
been placed into members' voluntary liquidations and their assets and
liabilities transferred to VCT III in consideration for the issue of ordinary
shares of 0.01p each ("VCT III Ordinary Shares") and B ordinary shares of 0.01p
each ("VCT III B Shares") in the capital of VCT III ("VCT III Shares").
A total of 16,606,883 VCT III Ordinary Shares (on a merger ratio of 1.0066468)
and 11,071,256 VCT III B Shares have been issued to the Company's shareholders.
In addition, 10,183,672 VCT III Ordinary Shares (on a merger ratio of 0.9313110)
and 6,789,114 VCT III B Shares have been issued to VCT I's shareholders. Such
shares have been issued at a deemed issue price of 86p per VCT III Ordinary
Shares and 0.01p per VCT III B Shares.
Application will shortly be made for all the VCT III Shares issued 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 17 July 2009.
As part of the Company Scheme, the suspension of the listing of the Company's
shares took place at 7.30am today and the cancellation of the Company's shares
will take place from the commencement of trading tomorrow, 17 July 2009.
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:
David Russell of Maven Capital Partners UK LLP
Company Secretary
Telephone: 0141 306 7555
This information is provided by RNS
The company news service from the London Stock Exchange
END
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