Foresight 5 VCT PLC : EGM Statement
07 February 2012 - 12:39AM
UK Regulatory
TIDMFRF
Foresight 5 VCT plc
GM and Merger Result
6 February 2012
This announcement is made by Foresight 5 VCT plc ("the Company") in connection
with the merger of the Company with Foresight 4 VCT plc ("Foresight 4") to be
completed pursuant to a scheme of reconstruction of the Company under Section
110 of the Insolvency Act 1986 ("Scheme") whereby the Company will be placed in
members' voluntary liquidation and will transfer all of its assets and
liabilities to Foresight 4, details of which were contained in the Company's
circular to shareholders ("the Circular") dated 22 December 2011.
The board is pleased to announce that at the general meeting of the Company held
on 6 February 2012, the resolution to approve the Company being placed in
liquidation, appoint the liquidators and cancel the listing of the Company's
shares, as set out in the Circular, was duly passed on a show of hands and with
9,068,994 (99.09%) of proxy votes received being in favour (or at the chairman's
discretion).
A copy of the resolution passed at the above meeting will shortly be available
for inspection on both the Company's website (http://www.foresightgroup.eu/) as
well as at the National Storage Mechanism (www.hemscott.com/nsm.do).
Accordingly, by way of implementation of the Scheme, the Company has been placed
into members' voluntary liquidation and the assets and liabilities of the
Company transferred to Foresight 4 in consideration for the issue of new C
ordinary shares of 1p each in the capital of Foresight 4 ("Foresight 4 C
Shares"). The total number of Foresight 4 C Shares issued to the Company's
ordinary shareholders was 10,814,271 at a deemed issue price of GBP1 per share (on
a ratio of 0.173235 for every ordinary share held in the Company and 0.587270
for every C ordinary share held in the Company).
Application will shortly be made for all the Foresight 4 C 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 7 February 2012. CREST
accounts are also expected to be credited on 7 February 2012.
As part of the Scheme, the suspension of the listing of the Company's shares
took place at 7.30am today (6 February 2012) and the cancellation of the listing
of the Company's shares is expected to take place from the commencement of
trading on 6 March 2012.
For further enquiries please contact:
Gary Fraser
Foresight Fund Managers Limited
Company Secretary
Telephone: 01732 471 800
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: Foresight 5 VCT PLC via Thomson Reuters ONE
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