SVU Svm Uk

 
TIDMSVU 
 
SVM UK Active Fund PLC (the "Company" "SVU") 
 
RIS Announcement 
 
Proposed voluntary liquidation 
 
The Board has been asked by Cyrun Finance, Ltd (`Cyrun'), as holder of over 93% 
of the Company's shares, to realise the assets in the Company's portfolio, in 
anticipation of the voluntary liquidation of the Company in the near future. 
 
Cyrun has written to request that the Board convenes a general meeting as soon 
as practicable at which the voluntary liquidation of the Company will be 
proposed and has stated its intention to vote its holding in favour of the 
voluntary liquidation. 
 
The Board has agreed to alter the Company's published investment policy such 
that the portfolio can be realised in the knowledge that compulsory acquisition 
powers will be applied at 191.2p per share (being the price paid under the 
Offer made by Cyrun for the entire issued share capital of the Company that 
Cyrun did not already own on 17 March 2011 which was revised on 28 April and 
made on a mandatory basis from 6 May 2011) for the Company's shares not already 
owned by Cyrun and held by minority shareholders. Cyrun will write to 
Shareholders on the compulsory acquisition powers in the near future. 
 
The current Board intends to stand down after 30 June, by which time it is 
expected that the portfolio will be largely held in cash or cash equivalents. 
Cyrun, who will appoint its own representatives to the Board, will then 
commence the Company's liquidation process, which will include the cancellation 
of the Company's listing and admission to trading. SVM Asset Management 
Limited's investment management agreement will be terminated following the sale 
of the portfolio (other than an unquoted investment which is to be retained) 
which will result in a termination fee becoming payable in accordance with the 
terms of the agreement. 
 
All enquiries 
 
Carolina Viola Tel: 0131 226 6699 
 
Company Secretary 
 
Jane Lewis Tel: 020 3100 0295 
 
Winterflood Investment Trusts 
 
 
 
END 
 

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