Elderstreet VCT plc : Enhanced Share Buyback ("...

Elderstreet VCT plc

23 November 2012

Enhanced Share Buyback ("ESB") and Top-up Offer

On 25 September 2012, the Company published an Offer Document in respect of (i) a Tender Offer and Substitute Share Offer, together the Enhanced Share Buyback ("ESB"), to allow existing Ordinary Shareholders to subscribe for up to 28,917,881 new Ordinary Shares from the proceeds of selling their existing Ordinary Shares back to the Company and (ii) a Top-up Offer to issue up to 1,633,221 Ordinary Shares.

The Directors of the Company are pleased to announce that, on 23 November 2012, in accordance with the terms of the ESB:

 ·           A total of 3,556,967 Ordinary Shares were purchased for cancellation at a price of 59.8p per Ordinary Share.

 ·           A total of 3,450,031 Ordinary Shares were allotted in respect of the proceeds of the shares tendered for cancellation at a price of approximately 61.6495p per Ordinary Share.

The Directors of the Company are also pleased to announce that, on 23 November 2012, under the Top-up Offer, 293,419 Ordinary Shares were allotted at a price of 61.6495p per Ordinary Share.

The Top-up Offer and the ESB are now closed.

Application for the total of 3,743,450 Ordinary Shares to be admitted to the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities will be made at the earliest practical opportunity. 

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Source: Elderstreet VCT plc via Thomson Reuters ONE

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