Downing Plan VCT 7 Downing Planned Exit Vct 7 Plc : Tender Offer

 
TIDMDPV7 
 
   DOWNING PLANNED EXIT VCT 6 PLC 
 
   DOWNING PLANNED EXIT VCT 7 PLC 
 
   JOINT ANNOUNCEMENT 
 
   27 NOVEMBER 2013 
 
   TENDER OFFERS 
 
   The Boards of Downing Planned Exit VCT 6 plc and Downing Planned Exit 
VCT 7 plc (the, "Companies" and each a "Company") announce proposals for 
each Company to make a tender offer to purchase their own ordinary 
shares ("Shares") up to the number set out below (the "Tender Offers"). 
 
   Downing Planned Exit VCT 6 plc:  3,072,197 
 
   Downing Planned Exit VCT 7 plc:  3,225,806 
 
   The Companies have today published a joint circular to their 
shareholders (the "Circular") setting out the background to and reasons 
for the Tender Offers and seeking Shareholder approval of the Tender 
Offers at general meetings of the Companies, each to be held on 20 
December 2013 in accordance with the notices of general meeting set out 
in the Circular. 
 
   In each case, the Tender Price will based on the latest announced Net 
Asset Value per Share of each Company immediately prior to the Tender 
Offer, less the costs of the Tender Offer, which are expected to be 
approximately 1.18 pence per Share.  Based on the Net Asset Value per 
Share as at 31 July 2013, the Tender Price would be 63.62 pence per 
Share. 
 
   The Tender Offers will be made available to holders of Shares on the 
relevant Companies' register as at 26 November 2013. 
 
   A copy of the Circular has been submitted to the UK Listing Authority 
and will shortly be available for download both from www.downing.co.uk 
and the national storage mechanism (www.morningstar.co.uk/uk/NSM). 
 
   For further information, please contact: 
 
   Grant Whitehouse - Telephone: [phone] 
 
   (Company Secretary to the Companies) 
 
   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: Downing Planned Exit VCT 7 PLC via Globenewswire 
 
   HUG#1746271