Maven Income & Growth VCT 4 PLC Merger Update: Approval of Scheme (5253H)
November 15 2018 - 10:01AM
UK Regulatory
TIDMMAV4 TIDMMIG2 TIDMTTM
RNS Number : 5253H
Maven Income & Growth VCT 4 PLC
15 November 2018
Maven Income and Growth VCT 4 PLC ("MIG4")
Maven Income and Growth VCT 2 PLC ("MIG2")
(together the "Companies")
15 November 2018
Merger Update: Approval of Scheme
This announcement is made by the Companies in connection with
the scheme of reconstruction of MIG2 (the "Scheme"), details of
which were contained in the prospectus issued by MIG4 on 5 October
2018 (the "Prospectus"), and the circulars (the "Circulars") and
the announcements issued by the Companies on the same date.
The boards of directors of the Companies are pleased to report
that the resolution proposed at the second general meeting of MIG2
held today (the "Second General Meeting") was duly passed and that
the Scheme has become unconditional.
In implementing the Scheme, the assets and liabilities of MIG2
have been transferred to MIG4, in consideration for the issue of a
total of 19,469,302 ordinary shares of 10p each in the capital of
MIG4 ("Scheme Shares") to the former shareholders of MIG2 at a
deemed issue price of 70.5621p per Scheme Share. Pursuant to the
Scheme, Scheme Shares were issued to the former shareholders of
MIG2 at a ratio of 0.485100 Scheme Shares for each MIG2 share held.
The net asset value of MIG4 following the Scheme is
GBP54,470,837.
Following the issue of the Scheme Shares, the total number of
MIG4's issued ordinary shares of 10p each is 77,195,595.
Following the implementation of the Scheme, MIG2 has been placed
in members' voluntary liquidation.
Application has been made to the London Stock Exchange for the
Scheme Shares to be admitted to trading on its main market for
listed securities and it is expected that the Scheme Shares will be
admitted to the Official List and that trading will become
effective on 16 November 2018.
MIG2 also announces that further to the resolution passed at the
Second General Meeting, the listing of its ordinary shares of 10p
each on the Official List of the UK Listing Authority will be
cancelled with effect from 7.30 am on 16 November 2018.
As set out in the Prospectus, one of the existing directors of
MIG2, Peter Linthwaite, has now been appointed as a director of
MIG4. As stated in the Circular of MIG2, as the Scheme has now
taken effect, John Lawrence and The Hon. Robert Kissin have now
resigned as directors of MIG2.
A copy of the resolution passed at the Second General Meeting
has been submitted to the National Storage Mechanism and will
shortly be available for inspection at:
www.morningstar.co.uk/uk/NSM.
Issued on behalf of the Board
Maven Capital Partners UK LLP
Secretary of each of the Companies
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
MSCBSBDBCUBBGIU
(END) Dow Jones Newswires
November 15, 2018 10:01 ET (15:01 GMT)
Nordic 41 (LSE:MIG2)
Historical Stock Chart
From Jul 2024 to Aug 2024
Nordic 41 (LSE:MIG2)
Historical Stock Chart
From Aug 2023 to Aug 2024