Ortus VCT PLC Doc re. Joint Announcement of Potential Merger (0147Q)
01 November 2012 - 3:25AM
UK Regulatory
TIDMORT TIDMMAV4 TIDMMAVS
RNS Number : 0147Q
Ortus VCT PLC
31 October 2012
Joint announcement
Maven Income and Growth VCT 4 PLC
Ortus VCT PLC
Potential Merger pursuant to a Scheme of Reconstruction under
s.110 of the Insolvency Act 1986
The boards of Maven Income and Growth VCT4 PLC and Ortus VCT PLC
are pleased to announce that they have entered into discussion to
merge the companies.
A merger is expected to achieve, amongst other things, cost
savings and administrative efficiency through the creation of an
enlarged VCT to provide benefits for all shareholders. The proposed
merger will be subject to approval by shareholders of both
companies.
The intention is that any merger would be completed pursuant to
a s.110 scheme of reconstruction under the Insolvency Act 1986 by
transferring that assets and liabilities of Ortus VCT PLC to Maven
Income and Growth VCT 4 PLC in consideration for new shares in
Maven Income and Growth VCT 4 PLC to be issued to shareholders of
Ortus VCT on a relative net asset value basis. A merger on this
basis will be outside the provisions of The City Code on Takeovers
and Mergers.
A further announcement will be made in due course.
Enquiries:
Maven Capital Partners UK LLP
0141 306 7400
enquiries@mavencp.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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