Hargreave Hale AIM 2 Hargreave Hale Aim Vct 2 Plc : Doc Re. Possible Merger

 
TIDMHHVT 
 
   Hargreave Hale AIM VCT 1 Plc 
 
   Hargreave Hale AIM VCT 2 Plc 
 
   27 December 2017 
 
   Possible merger between Hargreave Hale AIM VCT 1 Plc ("HH1") and 
Hargreave Hale AIM VCT 2 Plc ("HH2") (together, the "Companies") 
 
   The board of directors of the Companies announce that they have entered 
into discussions regarding a possible merger of the Companies 
("Merger"). These discussions may or may not lead to an agreement to 
merge the Companies. 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 HH2 to HH1 in consideration for the issue of new HH1 
shares to HH2 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 will be subject to the 
approval of shareholders of both Companies. 
 
   HH1 is also proposing in early February 2018 to launch an offer for 
subscription to raise up to GBP20 million with an overallotment facility 
of a further GBP10 million ("Offer"). 
 
   If the Merger proceeds, it is anticipated that the Prospectus and 
Circulars required under the Listing Rules and companies legislation 
("Merger Documents") would be despatched to shareholders in early 
February 2018, with shareholders general meetings taking place in early 
March, and completion in mid-March. Details of the Offer will also be 
set out in the Merger Documents. 
 
   A further announcement will be made in due course. 
 
   The information contained within this announcement is deemed by the 
Companies to constitute inside information as stipulated under the 
Market Abuse Regulations (EU number. 596/2014). Upon the publication of 
this announcement via Regulatory Information Service this inside 
information is now considered to be in the public domain. 
 
   For additional information, please contact: 
 
   Stuart Brookes 
 
   Company Secretary 
 
   Hargreave Hale AIM VCT 1 & 2 plc 
 
   01253 754740 
 
   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: Hargreave Hale AIM VCT 2 plc via Globenewswire 
 
 
  https://hargreaveaimvcts.co.uk/ 
 

(END) Dow Jones Newswires

December 27, 2017 04:07 ET (09:07 GMT)

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