Merger Update

RNS Number : 8035X

Maven Income & Growth VCT 4 PLC

13 February 2013

 

Joint Announcement

Maven Income and Growth VCT 4 PLC

Ortus VCT PLC

Merger Update and Potential Top Up Offer

The boards of Maven Income and Growth VCT 4 PLC ("MIG 4") and Ortus VCT PLC ("Ortus") are pleased to confirm that, further to their announcement on 31 October 2012, they have reached agreement in principle to merge the companies.

As previously announced and subject to approval of shareholders of both companies, the merger will be completed pursuant to a s.110 scheme of reconstruction under the Insolvency Act 1986 by transferring the assets and liabilities of Ortus to MIG 4 in consideration for new shares in MIG 4 to be issued to shareholders of Ortus 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.

It is also intended that MIG 4 will seek shareholder approval to consolidate its share capital by merging the S ordinary shares into the ordinary shares prior to the merger being effected.

In addition, MIG 4 also intends to take the opportunity to raise further funds by making available a top-up offer in respect of its ordinary share class.

Full terms of the merger, MIG 4 share consolidation and MIG 4 top-up offer are expected to be provided to shareholders shortly, at which point a further announcement will be made.

Maven Capital Partners UK LLP

Secretary

13 February 2013

Enquiries:

Maven Capital Partners UK LLP

0141 306 7400

[e-mail]

 

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