Calculus VCT PLC Merger Results and Issue of Equity (5471Q)
September 12 2017 - 10:50AM
UK Regulatory
TIDMCLC
RNS Number : 5471Q
Calculus VCT PLC
12 September 2017
Calculus VCT plc
Merger Results
12 September 2017
This announcement is made by Calculus VCT plc (the "Company") in
connection with the merger of the Company with Neptune-Calculus
Income and Growth VCT plc (in liquidation) ("Neptune"), by way of a
scheme of reconstruction of Neptune pursuant to Section 110 of the
Insolvency Act 1986 and the transfer by Neptune of all of their
assets and liabilities to the Company ("Scheme"), details of which
were contained in the Company's prospectus and circular to
shareholders both dated 4 August 2017.
The board is pleased to advise that the resolution proposed at
the second general meeting of Neptune held today was duly passed
and accordingly the Scheme has now been implemented and
effected.
By way of implementation of the Scheme, the assets and
liabilities of Neptune have been transferred to the Company in
consideration for the issue of new ordinary shares of 1p each in
the capital of the Company ("Consideration Shares"). The total
number of Consideration Shares issued to Neptune shareholders in
connection with the Scheme was 2,511,180 at a deemed issue price of
87.66p per share.
Following implementation of the Scheme, the capital of the
Company as at 12 September 2017 consists of 11,337,127 ordinary
shares of 1p each of which none are held in treasury. The total
number of voting rights in the Company is, therefore, 11,337,127
which may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to
notify their interest in, or a change to their interest in, the
Company under the FCA's Disclosure, Guidance and Transparency
Rules.
Applications have been made for all the Consideration Shares
issued pursuant to the Scheme 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 13 September 2017. CREST accounts are also
expected to be credited on 13 September 2017.
As a result of the merger becoming effective, Diane
Seymour-Williams will tomorrow be appointed as a non-executive
director of the Company. Accordingly, the following information is
being disclosed pursuant to section LR 9.6.13 of the Listing
Rules.
Diane Seymour-Williams has held the following directorships
and/or partnerships in the previous 5 years:
Current Past 5 Years
Brooks MacDonald Group LGM Investments Limited
plc Gladstone Court (London)
Witan Pacific Investment Management Limited
Trust plc Neptune-Calculus Income
Standard Life Private and Growth VCT plc
Equity Trust plc
There is no further information required to be disclosed
pursuant to sections LR 9.6.11, LR 9.6.12 and LR 9.6.13 of the
Listing Rules.
Calculus Capital Limited
Company Secretary
This information is provided by RNS
The company news service from the London Stock Exchange
END
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