Maven Income & Growth VCT 4 PLC Possible Merger (7504A)
14 September 2018 - 3:16AM
UK Regulatory
TIDMMAV4 TIDMMIG2 TIDMTTM
RNS Number : 7504A
Maven Income & Growth VCT 4 PLC
13 September 2018
Maven Income and Growth VCT 4 PLC
Maven Income and Growth VCT 2 PLC
13 September 2018
Possible merger of Maven Income and Growth VCT 4 PLC ("Maven VCT
4") and Maven Income and Growth VCT 2 PLC ("Maven VCT 2") (together
the "Companies")
The boards of directors of the Companies announce that they have
entered into discussions regarding a possible merger of the
Companies (the "Merger"). These discussions may or may not lead to
an agreement to merge the Companies. If the Merger is to proceed,
the current intention is that it will be undertaken by way of a
scheme of reconstruction under s.110 of the Insolvency Act 1986 by
transferring the assets and liabilities of Maven VCT 2 to Maven VCT
4 in consideration for the issue of new ordinary shares in Maven
VCT 4 to the Maven VCT 2 shareholders on a relative net asset value
basis. A merger solely on this basis would be outside the
provisions of The City Code on Takeovers and Mergers.
If the Merger is to proceed, it will require formal approval
from the shareholders of both Companies. If the Merger is approved,
it is expected to achieve costs savings through the establishment
of a larger combined fund.
If the Merger proceeds, it is anticipated that the Prospectus
and Circulars required under the Listing Rules and companies
legislation would be despatched to shareholders in October 2018,
with shareholder general meetings taking place in early November
2018, and completion in mid-November 2018.
A further announcement will be made in due course.
The information contained within this announcement is deemed by
the Companies to constitute inside information as stipulated under
the Market Abuse Regulations (EU number. 596/2014). Upon the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
For additional information, please contact:
Maven Capital Partners UK LLP
Secretary to the Companies
Telephone: 0141 306 7400
E-mail: enquiries@mavencp.com
13 September 2018
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
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