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PUM8 Puma 8

25.00
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Puma 8 LSE:PUM8 London Ordinary Share GB00B40PR121 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 25.00 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

PUMA VCT 8 PLC Puma Vct 8 Plc : Notice Re: Interim Dividend And Winding-up Circular

03/10/2017 7:15am

UK Regulatory


 
TIDMPUM8 
 
 
   ANNOUNCEMENT RE INTERIM DIVIDEND AND WINDING-UP CIRCULAR 
 
   Interim Dividend 
 
   Following significant further realisations from the VCT qualifying 
portfolio, the Board is pleased to announce that it has approved an 
interim dividend of 45p per Share. The ex-dividend date will be 12 
October 2017 and the record date 13 October 2017. The dividend will be 
paid to Shareholders on or around 27 October 2017.  Following payment of 
this further interim dividend, the Company will have distributed 70 
pence in dividends. 
 
   As stated in the annual report and accounts of the Company for the year 
ended 28 February 2017, dividends paid to Shareholders to date have 
brought total cash returned to Shareholders who initially received 
higher rate tax relief to 55 pence, comprising 25 pence in dividends and 
30 pence in income tax relief. The audited net assets at the year end 
(28 February 2017) were 72.91 pence per Share (equivalent to 97.91 pence 
per Share after adding back the 25 pence per Share of dividends paid to 
date). Shore Capital Limited, the Company's investment manager (the 
"Investment Manager"), has continued to concentrate on planning 
realisations of investments in order to return further funds to 
Shareholders in accordance with the Company's prospectus dated 26 July 
2011 (the "Prospectus"). 
 
   Winding-up 
 
   It was announced on 29 June 2017 that the Board intends to put to 
Shareholders a proposal for the solvent winding-up of the Company. A 
circular explaining the proposal for the winding-up and the actions 
which are required for its implementation has been posted to 
Shareholders on 2 October 2017, together with a notice of the General 
Meeting of the Company to be held at 11.30 a.m. on 31 October 2017 at 
Bond Street House, 14 Clifford Street, London W1S 4JU. The winding-up is 
conditional on the approval of the resolutions to be put to the General 
Meeting (the "Resolutions"). 
 
   The Prospectus envisaged that the Company should not have a fixed life 
but that the Directors would review the Company's portfolio of 
investments after the first five years of trading with a view to an 
orderly liquidation of its assets and a subsequent distribution of the 
net proceeds to Shareholders. 
 
   Subject to the Resolutions being passed, the Investment Manager intends 
to realise value from the Company's residual holdings and settle 
liabilities in order to simplify the Company's liquidation and maximise 
final returns to Shareholders. 
 
   The Board is, therefore, now recommending that the Company be placed in 
voluntary liquidation with the intention that further funds are returned 
to Shareholders by way of a capital distribution by the liquidators and 
that Asher Miller and Henry Lan of David Rubin & Partners Limited be 
appointed joint liquidators. 
 
   If the Resolutions are passed, this will result in the cancellation of 
the listing of the Company's Shares on the Official List of the UK 
Listing Authority, which is expected to take place on 1 November 2017, 
and the Shares ceasing to trade on the London Stock Exchange. 
 
   Expected Timetable 
 
 
 
 
Notice of General Meeting                                2 October 2017 
Deadline for receipt of Proxy Forms                      11.30 a.m. on 27 
                                                         October 2017 
Suspension of the listing of the Shares on the Official  7.30 a.m. on 31 
 List                                                    October 2017 
General Meeting                                          11.30 a.m. on 31 
                                                         October 2017 
Expected date of cancellation of the listing of the      8.00 a.m. on 1 
 Shares on the Official List                             November 2017 
 
 
 
   Documents 
 
   A copy of the circular has been submitted to the National Storage 
Mechanism and will shortly be available for inspection at 
www.morningstar.co.uk/uk/NSM. 
 
   The Company and the Directors accept responsibility for the information 
contained in this announcement. To the best of the knowledge and belief 
of the Directors (who have taken all reasonable care to ensure that such 
is the case), the information relating to the Company and its directors 
contained in this announcement is in accordance with the facts and does 
not omit anything likely to affect the import of such information. 
 
   Enquiries 
 
   Graham Shore - Shore Capital 020 7408 4090 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: PUMA VCT 8 PLC via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

October 03, 2017 02:15 ET (06:15 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

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