Downing Planned Exit VCT 5 PLC : Winding-Up Circular

 
TIDMDPV5 
 
Downing Planned Exit VCT 5 plc 
Winding-Up Circular 
20 January 2012 
 
The  Company  was  launched  in  December  2005 with  the stated intention that, 
approximately  five years after the close of fundraising, the Company would seek 
to sell its underlying investments and a resolution to wind up the Company would 
be put to Shareholders. 
 
In  accordance with the Company's Articles,  at the 2011 Annual General Meeting, 
the  Directors put  forward a  resolution for  the Company  to discontinue  as a 
venture  capital trust. This resolution  received Shareholder approval on 19 May 
2011. 
 
The  Board  has  now  issued  formal  proposals  for the Company to enter into a 
winding  up and for  the appointment of  a liquidator. The  Company has issued a 
circular  setting  out  these  proposals  to  be considered by Shareholders at a 
General  Meeting to be held on 16 February 2012. Trading in the Company's shares 
will be suspended on 16 February 2012. 
 
The  Board is recommending that the Company be placed into voluntary liquidation 
with  the intention that  further funds are  returned to Shareholders  by way of 
capital distributions by the Liquidator once the remaining investments have been 
realised,  and that Antony Batty  of Antony Batty &  Company LLP be appointed as 
Liquidator. 
 
If  the resolutions are passed  at the General Meeting,  this will result in the 
cancellation  of the listing  of the ordinary  shares of 1p each  in the Company 
("Shares"),  which is expected to take place on 17 February 2012, and the Shares 
to cease to trade on the London Stock Exchange. 
 
Timetable 
 
Publication of Notice of General Meeting          20 January 2012 
 
 
Latest time and date for receipt of Form of Proxy 11.10 a.m. on 14 February 2012 
for General Meeting 
 
 
Suspension of the listing of the Shares on the    7.30 a.m. on 16 February 2012 
Official List 
 
 
General Meeting                                   11.10 a.m. on 16 February 2012 
 
 
Expected date of cancellation of the listing of   17 February 2012 
the Shares on the Official List 
 
Documents 
A copy of the circular has been submitted to the National Storage Mechanism and 
will shortly be available for inspection at www.hemscott.com/nsm.do. 
 
 
 
 
 
 
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Source: Downing Planned Exit VCT 5 PLC via Thomson Reuters ONE 
 
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