Prior Notice of Merger

 

TIDMCR. TIDMCR2 TIDMCR3 
 
RNS Number : 8153Q 
Core VCT I PLC 
20 April 2009 
 

JOINT ANNOUNCEMENT 
 
 
 
 
CORE VCT I PLC ("VCT I"), CORE VCT II PLC ("VCT II") AND CORE VCT III PLC ("VCT 
III") (together the "VCTs") 
 
 
Possible Merger pursuant to s.110 schemes of reconstruction under the Insolvency 
Act 1986 as a transfer of each of VCT I and VCT II's assets and liabilities to 
VCT III 
 
 
Following the completion of the initial investment programme for each of the 
VCTs, the boards of the VCTs (which are all managed by Core Capital LLP), are 
pleased to announce that they have reached agreement in principle on terms to 
merge the VCTs, subject to approval by shareholders of the VCTs. This will 
achieve administrative cost savings and should permit the declaration of higher 
dividends in future for the benefit of all shareholders. 
 
 
The intention is that this proposed merger will be completed pursuant to s.110 
schemes of reconstruction under the Insolvency Act 1986 by transferring the 
assets and liabilities of VCT I and VCT II to VCT III in consideration for the 
issue to the shareholders of VCT I and VCT II of new shares in VCT III. The 
proposed merger is intended to be completed on a relative adjusted net asset 
value basis. A merger on this basis will be outside the provisions of The City 
Code on Takeover and Mergers. 
 
 
Formal proposals will be forwarded to shareholders of the VCTs in due course. 
 
 
Enquiries: 
 
 Stephen Edwards, Core Capital LLP 
Tel: [phone] 
 
 
Kavita Patel, Martineau 
Tel: [phone] 
 
 
20  April 2009 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
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