DI3O Downing Vct 3

 
TIDMDI3O 
 
Downing Income VCT 3 plc (the "Company") 
 
15 February 2013 January 2013 
 
Ordinary Share - Share Realisation and Reinvestment Programme and Top Up Offer 
 
 
 
The directors of the Company are pleased to announce that they have published an 
offer  document (the "Offer Document") and  a circular (the "Circular") covering 
proposals  to offer the Company's ordinary  shareholders who are not resident in 
any  of the  Restricted Jurisdictions  (as such  terms is  defined in  the Offer 
Document) ("Existing Ordinary Shareholders") the opportunity to participate in a 
share  realisation and reinvestment programme  ("SRRP"). The Offer Document also 
proposes  to offer  all of  the Company's  shareholders (the "Shareholders") and 
members  of the public the opportunity to subscribe for up to 1,252,593 Ordinary 
Shares the Company (the "Top Up Offer"). 
 
 
 
Details  of the SRRP and Top Up Offer are included in the Circular which will be 
posted  to the Company's Shareholders shortly.   The terms and conditions of the 
SRRP  and Top Up Offer together  with information regarding the risks associated 
with  participating in the SRRP  and/or Top Up Offer  are contained in the Offer 
Document. 
 
 
 
The  SRRP, if  approved by  the Shareholders,  will give  participating Existing 
Ordinary  Shareholders the opportunity to sell  their shares back to the Company 
at  a price equal to 100% of the most  recently published net asset value of the 
shares  (rounded down to  the nearest 0.1p per  share) and to  then reinvest the 
proceeds  from the sale  in a new  issue of ordinary  shares at a price equal to 
approximately  103% of the net  asset value of  the shares (rounded  down to the 
nearest  0.0001p per share) (the "Substitution  Shares"), with the premium being 
charged   to   cover   administrative  costs.  Participating  Existing  Ordinary 
Shareholders  are then, subject to their  personal circumstances, able to obtain 
additional VCT tax relief of up to 30% of the amount subscribed for Substitution 
Shares.  The SRRP is  subject to an  overall limit equal  to 48.5% of the issued 
ordinary  shares of  the Company.  The SRRP  is not  available in respect of the 
Company's E Shares. 
 
 
 
The  Top Up Offer is open to all  Shareholders and members of the public who may 
apply  for up to 1,252,593 additional ordinary shares in the Company pursuant to 
the Top Up Offer. 
 
 
 
Both  the SRRP and the  Top Up Offer will  close at 3.00 p.m. on 28 March 2013, 
although the closing date of either the SRRP or the Top Up offer may be extended 
by the Company's directors. 
 
 
 
The  SRRP and the Top Up Offer  are subject to Shareholder approval. The general 
meeting of the Company's Shareholders has been convened for 18 March 2013 at 10 
Lower Grosvenor Place, London SW1W 0EN. The notice of the meeting and a detailed 
explanation of the resolutions to be proposed at the general meeting are set out 
in the Circular. 
 
 
 
Copies  of  the  Circular  and  Offer  Document  will  shortly  be  available at 
www.downing.co.uk. 
 
 
 
The  Circular will shortly  be available for  inspection at the National Storage 
Mechanism which can be accessed at http://www.morningstar.co.uk/uk/nsm 
 
 
 
Any enquiries in relation to the SRRP or the Top Up Offer should be made to: 
 
 
 
Grant Whitehouse 
 
Downing LLP 
 
Telephone: 020 7416 7780 
 
 
 
Please  note that Downing LLP  is not able to  provide investment or tax advice. 
Shareholders  are advised to consult an independent financial adviser for advice 
in relation to the SRRP or Top Up Offer. 
 
 
 
 
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: Downing Income VCT 3 plc via Thomson Reuters ONE 
[HUG#1678767] 
 

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