Albion Inc&Gth VCT Albion Income & Growth Vct Plc : Proposed Merger

 
TIDMAAIG 
 
 
   Proposed Merger 
 
   Joint Announcement 
 
   Albion Technology & General VCT plc 
 
   Albion Income & Growth VCT plc 
 
   Proposed Merger Pursuant to a Scheme of Reconstruction under s110 of the 
Insolvency Act 1986 
 
   The boards of Albion Technology & General VCT plc and Albion Income & 
Growth VCT plc are pleased to announce that they have reached agreement 
in principle to merge the companies. 
 
   The merger is expected to achieve, amongst other things, cost savings 
and administration efficiency through the creation of a significantly 
enlarged VCT to provide benefits for all shareholders. The proposed 
merger will be subject to approval by shareholders of both companies. 
 
   The intention is that the proposed merger will be completed pursuant to 
a s.110 scheme of reconstruction under the Insolvency Act 1986 by 
transferring the assets and liabilities of Albion Income & Growth VCT 
plc to Albion Technology & General VCT plc in consideration for new 
Albion Technology & General VCT plc shares to be issued to Albion Income 
& Growth VCT plc shareholders on a relative net asset value basis, based 
on net assets as at the time when the merger completes, adjusted for 
merger costs. A merger solely on this basis will be outside the 
provisions of The City Code on Takeovers and Mergers. 
 
   A further announcement will be made in due course. 
 
   Enquiries: 
 
   Patrick Reeve/Henry Stanford 
 
   Albion Ventures LLP 
 
   020 7601 1850 
 
   This announcement is distributed by Thomson Reuters on behalf of Thomson 
Reuters clients. 
 
   The owner of this announcement warrants that: 
 
   (i) the releases contained herein are protected by copyright and other 
applicable laws; and 
 
   (ii) they are solely responsible for the content, accuracy and 
originality of the 
 
   information contained therein. 
 
   Source: Albion Income & Growth VCT PLC via Thomson Reuters ONE 
 
   HUG#1721958 
 
 
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