PUMC Puma Vct Iii

 
TIDMPUMC 
 
30 September 2011 
                                                                PUMA VCT III PLC 
            ANNOUNCEMENT RE INTERIM DIVIDEND AND WINDING-UP CIRCULAR 
 
Interim Dividend 
Following  significant further  realisations from  the qualifying portfolio, the 
Board  is pleased to  announce that it  has approved an  interim dividend of 12 
pence  per ordinary share. The ex-dividend  date will be 12 October 2011 and the 
record  date 14 October 2011. The  dividend will be  paid to Shareholders on 27 
October  2011. Following payment of this interim dividend, the Company will have 
distributed  60.5 pence in dividends, passing the milestone of returning in cash 
more than the original investment made by investors. 
Winding-up 
It was announced on 30 June 2011 that the Board intends to put to Shareholders a 
proposal  for the solvent  winding-up of the  Company. A circular explaining the 
proposal  for  the  winding-up  and  the  actions  which  are  required  for its 
implementation  has been posted to shareholders today, together with a notice of 
an  Extraordinary General Meeting of the Company to be held at 10.15 a.m. on 27 
October  2011 at Bond  Street House,  14 Clifford Street,  London W1S 4JU.   The 
winding-up  is conditional on the  approval of the resolutions  to be put to the 
Extraordinary General Meeting (the "Resolutions"). 
The Company's prospectus dated 5 December 2005 (the "Prospectus") envisaged that 
the Company should not have a fixed life but that the Directors would review the 
Company's  portfolio of investments after the first five years of trading with a 
view  to an orderly liquidation  of its assets and  a subsequent distribution to 
the net proceeds to Shareholders. 
As  stated in the annual  report and accounts of  the Company for the year ended 
28 February  2011, dividends paid to Shareholders to date has brought total cash 
returned  to Shareholders who initially received higher rate tax relief to 88.5 
pence,  comprising 48.5 pence in dividends and 40 pence in tax relief, excluding 
the  proposed interim dividend of 12 pence per ordinary share.   The audited net 
assets  at the year  end (28 February  2011) were 57.66 pence per ordinary share 
and   Shore   Capital  Limited  (the  "Investment  Manager")  has  continued  to 
concentrate  on planning realisations of investments in order to return funds to 
Shareholders in accordance with the Prospectus. 
Subject  to  the  Resolutions  being  passed,  the Investment Manager intends to 
realise  value from  the Company's  residual holdings  and settle liabilities in 
order  to  simplify  the  Company's  liquidation  and  maximise final returns to 
Shareholders. 
The  Board  is,  therefore,  now  recommending  that  the  Company  be placed in 
voluntary  liquidation with  the intention  that further  funds are  returned to 
Shareholders by way of a capital distribution by the liquidators, and that Asher 
Miller and Henry Lan of David Rubin & Partners be appointed joint liquidators. 
If  the Resolutions  are passed,  this will  result in  the cancellation  of the 
listing of the ordinary shares of the Company ("Shares") on the Official List of 
the  UK Listing Authority, which is expected  to take place on 28 October 2011, 
and the Shares ceasing to trade on the London Stock Exchange. 
Expected Timetable 
Notice of Extraordinary General Meeting            29 September 2011 
 
Deadline for receipt of Proxy Forms                10.15 a.m. on 25 October 2011 
 
Suspension of the listing of the Shares on the     7.30 a.m. on 27 October 2011 
Official List 
 
Extraordinary General Meeting                      10.15 a.m. on 27 October 2011 
 
Expected date of cancellation of the listing of    8.00 a.m. on 28 October 2011 
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. 
The  Company  and  its  directors  accept  responsibility  for  the  information 
contained  in this announcement. To the best  of the knowledge and belief of the 
directors  (who have taken all reasonable care to ensure that such is the case), 
the  information relating  to the  Company and  its directors  contained in this 
announcement  is in accordance with the facts  and does not omit anything likely 
to affect the import of such information. 
Enquiries 
Shore Capital                                      Graham Shore 
      020 7408 4090 
 
Buchanan Communications              Richard Oldworth 
020 7466 5000 
Jeremy Garcia 
Helen Chan 
 
 
 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: PUMA VCT III PLC via Thomson Reuters ONE 
 
[HUG#1551104] 
 

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