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TP70 2008(ii) VCT (TPV2)

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Wednesday 21 November, 2012

TP70 2008(ii) VCT

Merger Update

RNS Number : 7188R
TP70 2008 (ii) VCT PLC
21 November 2012
 



Joint Announcement

 

TP70 2008(I) VCT plc, TP70 2008(II) VCT plc and TP12(I) VCT plc

 

Merger Update; Approval of Scheme

 

This announcement is made by TP70 2008(I) VCT plc ("TP70 2008(I)"), TP70 2008(II) VCT plc ("TP70 2008(II)") and TP12(I) VCT plc ("TP12") in connection with the scheme of reconstruction (the "Scheme") of TP70 2008(II) and TP12, details of which were contained in the prospectus issued by TP70 2008(I) and the circulars sent by each of TP70 2008(I), TP70 2008(II) and TP12, all dated 15 October 2012.

 

The boards of directors of TP70 2008(I), TP70 2008(II) and TP12 are pleased to report that the resolutions proposed at the second general meetings of TP70 2008(II) and TP12 held today were duly passed.

 

In implementing the Scheme, the assets and liabilities of TP70 2008(II) and TP12 have been transferred to TP70 2008(I), in consideration, in the case of TP70 2008(II), for the issue of 22,837,099 ordinary shares of 1p each to the former shareholders of TP70 2008(II) and, in the case of TP12, for the issue of 5,131,392 A ordinary shares of 1p each to the former shareholders of TP12. Following the issue of these shares, the total number of ordinary shares in issue is 45,936,997 and the total number of A ordinary shares in issue is 5,131,392.

 

Following implementation of the Scheme both TP70 2008(II) and TP12 have been placed in Members' Voluntary Liquidation., whilst Philip Marsden has retired as a director of TP 70 2008(I), to be replaced by Michael Stanes, who is currently a director of TP70 2008 (II).

 

Application has been made to the London Stock Exchange for the ordinary shares and A ordinary shares issued by TP70 2008(I) pursuant to the Scheme (the "New Shares") to be admitted to the Official List and to trading on the London Stock Exchange's main market for listed securities. It is expected that the New Shares will be admitted to the Official List and that trading will become effective on 22 November 2012.

 

TP70 2008(II) and TP12 also announce that further to the resolutions passed at the general meetings referred to above, they have applied for the listing of their ordinary shares of 1p each on the Official List of the UK Listing Authority to be cancelled with effect from the commencement of trading on 22 November 2012.

 

Copies of the resolutions passed at the second general meetings of TP70 2008(II) and TP12 have been submitted to the National Storage Mechanism and will shortly be available for inspection at:

 

www.hemscott.com/nsm.do 

 

 

For further information contact Claire Ainsworth or Chris Tottle of Triple Point Investment Management LLP. Telephone 0207 701 8989


This information is provided by RNS
The company news service from the London Stock Exchange
 
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