New Century AIM VCT Tender Offer
27 January 2017 - 3:48AM
UK Regulatory
TIDMNCA
The Board of New Century Aim VCT Plc announces that it has
arranged a Tender Offer to purchase up to 10% in aggregate of the
Company's issued share capital at a 5% discount to net asset value
based on the closing prices of the 16th February, 2017. Shareholder
approval for this offer was given at the latest AGM.
The Board is aware that liquidity in the shares has been
difficult which on occasions has led to a wide disparity between
the share price and net asset value. The buy back helps to address
this issue and allows shareholders that should so wish, to dispose
of shares at a price which more fully reflects the net asset value.
Shares not tendered in the buy back will be available for excess
applications by shareholders wishing to sell more than 10% of their
holding. On the 18th January, 2017, a 5% discount to the net asset
value per share represented 77.25p per share. Should the buy back
price fall to below 74p when calculated on the 16th, February 2017,
the buy back offer would be withdrawn and shareholders would be
notified of new buy back proposals. It is the intention of the
Board to carry out further buy backs from time to time.
Full details of the Tender Offer are contained in a circular
sent to all registered shareholders on the 26th January, 2017
Timetable of Events
Ex-entitlement date 9th February, 2017
Latest time and date for receipt of the Tender Offer 1pm on the
16th February, 2017
Registrars Books Closing Date for the Tender Offer. Close of
business on the 16th February, 2017
Announcement of the take-up level under the Tender Offer. 17th
February, 2017
Settlement date for the Tender Offer
Cheques despatched and assured payments made through Crest.
21st February, 2017
The dates and times given are based on the Company's current
expectations and may be subject to change. Any changes to the
expected timetable will be announced via a Regulatory Information
Service.
If you have any queries regarding the procedure for accepting
the Tender Offer, please contact Nicky Mitchell on 01268 495123
NEW CENTURY AIM VCT PLC
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January 26, 2017 11:48 ET (16:48 GMT)
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