Circ re. investment policy and borrowing limits

Hazel Renewable Energy VCT1 plc
Hazel Renewable Energy VCT2 plc
Joint Announcement

Publication of Circular
22 November 2013

Hazel Renewable Energy VCT1 plc ("Hazel1") and Hazel Renewable Energy VCT2 plc ("Hazel2") (together "the Companies" and each a "Company") have today published and issued to Shareholders a circular approved by the UK Listing Authority (the "Circular") in relation to recommended proposals:

(a) to amend each Company's investment policy; and
(b) for each Company and any of its subsidiaries to borrow monies greater than 15% of the that Company's net asset value solely in connection with a financing and acquisition opportunity described in the Circular.

Shareholder approval for the proposals is being sought in order to allow the Companies to implement the significant financing and acquisition opportunity mentioned in (b) above.

The Circular convenes general meetings of Hazel1 and Hazel2 to be held at 11.00 a.m. and 11:05 a.m. on 16 December 2013 respectively.

Copies of the Circular will shortly be available for inspection at www.morningstar.co.uk/uk/NSM .

Copies of the Circular are also available in electronic form from Downing's website at www.downing.co.uk and will be available for collection from the registered office of the Company at 10 Lower Grosvenor Place, London SW1W 0EN.

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Source: Hazel Renewable Energy VCT 1 plc via Thomson Reuters ONE

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