Puma High Inc VCT Further Re Interim Dividend And Winding-up And Notice Of General Meetings

 
TIDMPMH 
 
 
   ANNOUNCEMENT RE INTERIM DIVIDEND, ANNUAL REPORT, NOTICE OF AGM 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 16p per Share. The ex-dividend date will be 17 
September 2015 and the record date 18 September 2015. The dividend will 
be paid to Shareholders before 30 September 2015.  Following payment of 
this further interim dividend, the Company will have distributed 51p per 
share in dividends. 
 
   A number of further realisations are expected in September 2015.  If any 
of these occur before 17 September 2015, then the Board intend to 
increase the interim dividend, up to a maximum of 20p per Share.  If so, 
the Company will have distributed 55p per Share in dividends. 
 
   Annual Report and Notice of AGM 
 
   Copies of the Annual Report and Accounts of the Company in respect of 
the financial period ended 31 March 2015 and the Notice of Annual 
General Meeting to be held on 30 September 2015 have been posted to 
shareholders and a copy has been submitted to the National Storage 
Mechanism and will shortly be available for inspection at: 
http://www.morningstar.co.uk/uk/NSM 
 
   Copies are available on the Puma Investments website at: 
 
   http://www.pumainvestments.co.uk/pages/view/investors-information-vcts 
 
   Winding-up 
 
   It was announced on 31 July 2015 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 September 2015, together with a notice of the General 
Meeting of the Company to be held at 11.15 a.m. on 30 September 2015 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 Company's prospectus dated 11 November 2009 (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. 
 
   As stated in the annual report and accounts of the Company for the year 
ended 31 March 2015, dividends paid to Shareholders to date has brought 
total cash returned to Shareholders who initially received the full 
amount of VCT income tax relief on their investment to 65 pence, 
comprising 35 pence in dividends and 30 pence in income tax relief. The 
audited net assets at the year end (31 March 2015) were 59.91 pence per 
Share (equivalent to 94.91 pence per Share after adding back the 35 
pence per Share of dividends paid to date). Shore Capital Limited (the 
"Investment Manager") has continued to concentrate on planning 
realisations of investments in order to return further funds to 
Shareholders in accordance with the Prospectus. 
 
   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 be appointed 
joint liquidators. 
 
   If the Resolutions are passed, this will result in the cancellation of 
the listing of the ordinary shares of the Company ("Shares") on the 
Official List of the UK Listing Authority, which is expected to take 
place on 1 October 2015, and the Shares ceasing to trade on the London 
Stock Exchange. 
 
   Expected Timetable 
 
 
 
 
Notice of General Meeting                                2 September 2015 
Deadline for receipt of Proxy Forms                      11.15 a.m. on 28 
                                                         September 2015 
Suspension of the listing of the Shares on the Official  7.30 a.m. on 30 
 List                                                    September 2015 
General Meeting                                          11.15 a.m. on 30 
                                                         September 2015 
Expected date of cancellation of the listing of the      8.00 a.m. on 1 
 Shares on the Official List                             October 2015 
 
 
 
   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 OMX Corporate Solutions on 
behalf of NASDAQ OMX 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 High Income VCT PLC via Globenewswire 
 
   HUG#1949389 
 
 
 
 

(END) Dow Jones Newswires

September 03, 2015 02:00 ET (06:00 GMT)

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