Merger Update

    RNS Number : 1690D
  Foresight 3 VCT PLC
  10 September 2008
   

    Foresight 3 VCT plc 

    10 September 2008

    Merger Update and Board Changes

    This announcement is made by Foresight 3 VCT plc ("the Company") in connection with the scheme for the merger of Enterprise VCT plc
("Enterprise") with the Company ("the Scheme"), details of which were contained in the Company's prospectus ("the Prospectus") and circular
to shareholders ("the Circular") both dated 8 August 2008.

    The board of directors of the Company ("the Board") are pleased to advise that the resolution proposed at the extraordinary general
meeting of Enterprise held today was duly passed to be able to implement the Scheme and effect the merger. By way of implementation of the
Scheme, the assets and liabilities of Enterprise have been transferred to the Company, in consideration for the issue of shares in the
Company, as set out below.

    The total number of C shares of 1 pence each in the capital of the Company ("Shares") issued to Enterprise shareholders in connection
with the Scheme was 30,437,476, this being equal to the number of ordinary share of 10 pence each in the capital of Enterprise in issue
before the transfer, at a deemed issue price of 62.3p per share.  

    Application will shortly be made for all the Shares issued to be admitted to the Official List and to trading on the main market of the
London Stock Exchange. It is expected that admission will become effective and that trading will commence on 12 September 2008. 

    The Board further announces that John Gregory (the chairman of Enterprise) and Tom Maxwell (a director of Enterprise) have also today
joined the Board as non*executive directors together bringing a broad experience of banking, corporate finance and fund management.  
    For further enquiries please contact:

    Foresight Group LLP 
    Gary Fraser
    Telephone: [phone]

      Enterprise VCT plc 

    EGM Results and Merger Update

    10 September 2008

    This announcement is made by Enterprise VCT plc ("the Company") in connection with the scheme for the merger of Foresight 3 VCT plc
("Foresight 3") with the Company ("the Scheme"), details of which were contained in the Company's circular to shareholders dated 8 August
2008 ("the Circular"). 

    The board of directors of the Company ("the Board") is pleased to announce that the resolution proposed at the extraordinary general
meeting of the Company held today was duly passed. Details of the proxy votes in respect of the resolution passed received as at 2.30 pm on
10 September 2008 are set out below:
            
             No. of Votes
 For         4,660,747
 Discretion  592,924
 ary         78,963.
 Against     -

 Withheld

    Accordingly, by way of implementation of the scheme for the reconstruction of the Company ("the Scheme"), the Company has been placed
into members' voluntary liquidation and the assets and liabilities of the Company transferred to Foresight 3 in consideration for the issue
of C shares of 1 pence each in the capital of Foresight 3 ("Foresight 3 C Shares"). The total number of Foresight 3 C Shares issued to the
Company's shareholders was 30,437,476, this being equal to the number of ordinary shares of 10 pence in the capital of the Company in issue
before the transfer, at a deemed issue price of 62.3p per share.

    Application will shortly be made for all the Foresight 3 C Shares issued to be admitted to the Official List and to trading on the main
market of the London Stock Exchange. It is expected that admission will become effective and that trading will commence on 12 September
2008. 

    As part of the Scheme, the suspension of the listing of the Company's shares took place at 7.30am today and the suspension of the
Company's shares will take place from the commencement of trading tomorrow.

    A copy of the resolution passed at the extraordinary general meeting will be submitted to the UK Listing Authority and will shortly be
available for inspection at the UK Listing Authority's Document Viewing Facility, which is situated at:

    Financial Services Authority
    25 The North Colonnade
    Canary Wharf
    London
    E14 5HS
    Telephone: [phone]

    For further enquiries please contact:

    Foresight Group LLP 
    Gary Fraser
    Telephone: [phone]

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