Foresight 3 VCT PLC Foresight 3 Vct Plc : Statement Re Possible Merger

 
TIDMFTD 
 
   FORESIGHT 3 VCT PLC 
 
 
 
   12 September 2016 
 
   Possible merger between Foresight 3 VCT plc ("F3") and Foresight 4 VCT 
plc ("F4") (together the "Companies") 
 
   The boards of directors of the Companies announce that they have entered 
into discussions regarding a possible merger of the Companies (the 
"Merger"). If the Merger is to proceed the current intention is that it 
will be effected pursuant to a scheme of reconstruction under s.110 of 
the Insolvency Act 1986 by transferring the assets and liabilities of F3 
to F4 in consideration for new F4 shares to be issued to F3 shareholders 
on a relative net asset value basis. A merger solely on this basis would 
be outside the provisions of The City Code on Takeovers and Mergers. 
 
   If the Merger proceeds it would be expected to achieve, amongst other 
things, significant cost savings and administration efficiency through 
the establishment of a single, enlarged VCT with net assets in excess of 
GBP70 million. The proposed merger will be subject to the approval of 
the shareholders of both Companies. 
 
   A further announcement will be made in due course. 
 
   For further information, please contact: 
 
   Gary Fraser 
 
   Foresight Group LLP 
 
   Telephone: [phone] 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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: Foresight 3 VCT PLC via Globenewswire 
 
 
  http://www.foresightgroup.eu/ 
 

(END) Dow Jones Newswires

September 12, 2016 12:42 ET (16:42 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.