Hazel Renewable Energy VCT 1 plc : Related Part...

Hazel Renewable Energy VCT1 plc (the "Company")
7 March 2016
Related Party Transactions

As part of a restructuring of one of the Company's investee companies, Ayshford Solar Holdings Limited ("Ayshford") the minority shareholders (the "Minority Shareholders") holding 27.46% of the shares in Ayshford have sold (the "Share Purchase") those shares to the Company and Hazel Renewable Energy VCT2 plc ("Hazel2").

Ben Guest, a director of the Company and therefore a related party of the Company under Listing Rule 11.1.4, sold 60,000 ordinary shares of £1 in Ayshford (the "Sale Shares") to the Company and Hazel2 pursuant to the Share Purchase in consideration for the sum of £328,480.02 and was paid the sum of £378,103.08 by Ayshford pursuant to loans that the Minority Shareholders had made to Ayshford. The Share Purchase transaction was undertaken at a price consistent with the latest valuation of the Ayshford investment in the Company's books.

The agreement between the Company and Hazel2 to enter into the Share Purchase and the purchase by the Company of the Sale Shares from Ben Guest constitute smaller related party transactions as defined in Listing Rule 11.1.10 and which the board of the Company agreed after having been advised by Howard Kennedy Corporate Services LLP, as sponsor to the Company, that they were fair and reasonable as far as the Company's Shareholders were concerned.

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Source: Hazel Renewable Energy VCT 1 plc via Globenewswire

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