TP5 VCT PLC Interim Dividend and Winding-up Circular (2291Z)
16 September 2015 - 8:03PM
UK Regulatory
TIDMTP5
RNS Number : 2291Z
TP5 VCT PLC
16 September 2015
ANNOUNCEMENT RE INTERIM DIVIDENDS AND WINDING-UP CIRCULAR
Interim Dividends
Following significant further realisations from the VCT
qualifying portfolio, the Board is pleased to announce that it has
approved an interim dividend of 9.5 pence per ordinary share and
6.5 pence per B share. The ex-dividend date for these dividends
will be 24 September 2015 and the record date 25 September 2015.
The dividends will be paid to shareholders on 2 October 2015.
Winding-up
A circular explaining the proposal for the solvent winding-up of
the Company and the actions which are required for its
implementation has been posted to shareholders today, together with
a notice of the general meeting of the Company to be held at 3p.m.
on 15 October 2015 at 18 St Swithin's Lane, London EC4N 8AD (the
"General Meeting"). The winding-up is conditional on the approval
of the resolutions to be put to the General Meeting (the
"Resolutions").
The prospectuses that were issued by the Company on 12 September
2008 and 24 August 2009 envisaged that the Company's strategy would
be to dispose of or realise investments and distribute proceeds to
shareholders so that an exit could be achieved after the end of the
five year VCT holding period.
The Company has now realised the majority of its investments and
distributions have been made or declared to the ordinary
shareholders and the B shareholders, totalling in aggregate over
the life of the Company 95.472p for the ordinary share class and
91.7p for the B share class (including the interim dividends to be
paid on 2 October 2015).
The Board is, therefore, now recommending that the Company be
placed in voluntary liquidation with the intention that further
funds will be returned to shareholders by way of a capital
distribution by the liquidators. Assuming shareholders accept the
Board's recommendation to wind-up the Company, no further audited
financial statements or half yearly reports will be issued by the
Company and the shares will be de-listed. However, further
information about the proceeds of the winding-up will be sent to
Shareholders in due course.
If the Resolutions are passed, this will result in the
cancellation of the listing of the ordinary shares and B shares of
the Company on the Official List of the UK Listing Authority, which
is expected to take place on 16 October 2015, and the Company's
ordinary shares and B shares ceasing to trade on the London Stock
Exchange.
Expected Timetable
Notice of General Meeting 15 September 2015
Deadline for receipt of Proxy Forms 3 p.m. on 13 October 2015
Suspension of the listing of the Shares 7.30 a.m. on 15 October
on the Official List 2015
General Meeting 3p.m.on 15 October 2015
Expected date of cancellation of the 8.00 a.m. on 16 October
listing of the Shares on the Official 2015
List
A copy of the circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
www.hemscott.com/nsm.do.
Enquiries
For further information, please contact Claire Ainsworth or
David Burton at Triple Point Investment Management LLP on 0207 201
8989.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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