Strategy/Company/Operations Update

Strategy/Company/Operations Update

NEW CENTURY AIM VCT PLC

New Century AIM VCT plc
Legal Entity Identifier: 213800DEURQTGUXXPY18

As announced on 5 September 2022, at the general meeting of the Company held on that day 100 per cent. of the votes cast were voted in favour of the resolution for the Company to adopt a new managed wind-down investment objective and policy, as set out in full in part 2 of the circular to shareholders of the Company dated 12 August 2022.

Accordingly, the Company has served notice of termination on Oberon Investments Limited (the "Investment Manager") in respect of the investment management agreement entered into between the Company and the Investment Manager (as amended from time to time) (the "Investment Management Agreement").

In accordance with the terms of the Investment Management Agreement, the termination of the Investment Management Agreement will take effect on the date which is twelve months from the date of the termination notice. Notwithstanding the serving of the termination notice by the Company, under the terms of the Investment Management Agreement, the Investment Manager will continue to provide investment management services in line with the terms and provisions of the Investment Management Agreement up to the effective date of the termination of the Investment Management Agreement.

The Company has also today submitted to the Financial Conduct Authority an application to become a small registered UK alternative investment fund manager. Upon the Company becoming a small registered UK alternative investment fund manager, and upon the Investment Manager ceasing to hold office, the Board will assume overall control of the Company's investment objective and policy and will have overall responsibility for the Company's activities.

For further information, please contact:

Tricor Secretaries Ltd, Company Secretary Tel: [phone]

Email: [e-mail]

15th September 2022

View source version on businesswire.com: https://www.businesswire.com/news/home/20220915005808/en/