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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
TP70 2010 Vct | LSE:TP7V | London | Ordinary Share | GB00B4XR6J62 | 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% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMTP7V
RNS Number : 4220I
TP70 2010 VCT PLC
08 December 2015
TP70 2010 VCT plc (the "Company")
London 8 December 2015
ANNOUNCEMENT OF AN INTERIM DIVIDEND AND WINDING-UP CIRCULAR
Interim Dividend
Following further realisations from the VCT's qualifying investment portfolio, the Board is pleased to announce that it has approved an interim dividend of 12.5 pence per ordinary share. The ex-dividend date for this dividend will be 17 December 2015 and the record date 18 December 2015. The dividend will be paid to shareholders on 7 January 2016.
Winding-up
A circular explaining the proposal for the solvent winding-up of the Company and the actions which are required for its implementation will be posted to shareholders, together with a notice of the general meeting of the Company to be held at 10 am on 7 January 2016 at 18 St Swithin's Lane, London EC4N 8AD (the "General Meeting"). The winding-up is conditional on the approval of the resolutions to be put to the General Meeting (the "Resolutions").
The prospectus that was issued by the Company on 2 February 2010 envisaged that the Company's strategy (after the end of the minimum five year VCT holding period) would be to dispose of or realise investments and distribute the proceeds to shareholders so that an exit could be achieved.
The Company has now realised the majority of its investments and distributions have been or will be made to the ordinary shareholders, totalling in aggregate over the life of the Company 86.52p.
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. Assuming shareholders accept the Board's recommendation to wind-up the Company, no further audited financial statements or half yearly reports will be issued by the Company and the shares will be de-listed. However, further information about the proceeds of the winding-up will be sent to Shareholders in due course.
If the Resolutions are passed, this will result in the cancellation of the listing of the ordinary shares on the Official List of the UK Listing Authority, which is expected to take place on 8 January 2016, and the Company's ordinary shares ceasing to trade on the London Stock Exchange.
Expected Timetable
Notice of General Meeting 8 December 2015 Deadline for receipt of Proxy 10 am on 5 January Forms 2016 Suspension of the listing of 7.30 am on 7 January the Shares on the Official 2016 List General Meeting 10 am on 7 January 2016 Expected date of cancellation 8 January 2016 of the listing of the Shares on the Official List
Copies of the Circular will shortly be available for inspection at the National Storage Mechanism, which is located at:
http://www.morningstar.co.uk/uk/NSM
and on the Company's website:
www.triplepoint.co.uk
For further information, please contact Claire Ainsworth at Triple Point, on 020 7201 8989
This information is provided by RNS
The company news service from the London Stock Exchange
END
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(END) Dow Jones Newswires
December 08, 2015 12:04 ET (17:04 GMT)
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