Chrysalis VCT Plc Update On Preparation Of Proposals For Company To Commence A Vct Winding Up Period

 
TIDMCYS 
 
   Chrysalis VCT plc 
 
   LEI: 2138009FVDWULSIOX404 
 
   23 October 2020 
 
   Update on preparation of proposals for Company to commence a VCT winding 
up period 
 
   On 21 August 2020, the Company announced that the Board was preparing 
formal proposals to be put to Shareholders for approval for the Company 
to commence a formal VCT winding up period and to put the Company into 
Members' Voluntary Liquidation. 
 
   The Company also announced its intention to cease undertaking any share 
buyback once these proposals were published by the Company. 
 
   The Board now expects the proposals to be published by the Company on or 
around 30 October 2020. Accordingly, the board does not expect the 
Company to undertake any further share buybacks after this date. 
 
   Full details of the proposals and the General Meeting will be included 
in the circular that the Company will send to all shareholders. 
 
   The Company also announces that its unaudited Net Asset Value as at 30 
September 2020 stood at 52.8p per share. This value will be used as the 
basis for any further share buybacks that the Company undertakes. The 
Company has previously announced that, until the above proposals are 
published, it intends to  buy back shares that become available in the 
market at a discount of approximately 25% to the latest published NAV 
(now equivalent to 36.6p per share). 
 
 
 
 

(END) Dow Jones Newswires

October 23, 2020 02:00 ET (06:00 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.