Downing Planned Exit VCT 4 plc : Winding-Up Circular
January 20 2012 - 11:27AM
UK Regulatory
TIDMDPV4
Downing Planned Exit VCT 4 plc
Winding-Up Circular
20 January 2012
The Company was launched in December 2005 with the stated intention that,
approximately five years after the close of fundraising, the Company would seek
to sell its underlying investments and a resolution to wind up the Company would
be put to Shareholders.
In accordance with the Company's Articles, at the 2011 Annual General Meeting,
the Directors put forward a resolution for the Company to discontinue as a
venture capital trust. This resolution received Shareholder approval on 19 May
2011.
The Board has now issued formal proposals for the Company to enter into a
winding up and for the appointment of a liquidator. The Company has issued a
circular setting out these proposals to be considered by Shareholders at a
General Meeting to be held on 16 February 2012. Trading in the Company's shares
will be suspended on 16 February 2012.
The Board is recommending that the Company be placed into voluntary liquidation
with the intention that further funds are returned to Shareholders by way of
capital distributions by the Liquidator once the remaining investments have been
realised, and that Antony Batty of Antony Batty & Company LLP be appointed as
Liquidator.
If the resolutions are passed at the General Meeting, this will result in the
cancellation of the listing of the ordinary shares of 1p each in the Company
("Shares"), which is expected to take place on 17 February 2012, and the Shares
to cease to trade on the London Stock Exchange.
Timetable
Publication of Notice of General Meeting 20 January 2012
Latest time and date for receipt of Form of 11.00 a.m. on 14 February 2012
Proxy for General Meeting
Suspension of the listing of the Shares on the 7.30 a.m. on 16 February 2012
Official List
General Meeting 11.00 a.m. on 16 February 2012
Expected date of cancellation of the listing of 17 February 2012
the Shares on the Official List
Documents
A copy of the circular has been submitted to the National Storage Mechanism and
will shortly be available for inspection at www.hemscott.com/nsm.do.
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Source: Downing Planned Exit VCT 4 plc via Thomson Reuters ONE
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