Hazel Ren Egy VCT1 Hazel Renewable Energy Vct 1 Plc : Shareholder Update

 
TIDMHR1O 
 
   Hazel Renewable Energy VCT1 plc 
 
   Legal Entity Identifier: 213800IVQHJXUQBAAC06 
 
   Shareholder Update 
 
   17 October 2017 
 
   The Board of Hazel Renewable Energy VCT1 plc ("Company") announces that, 
along with its sister company, Hazel Renewable Energy VCT2 plc ("Hazel 
2"), it has provisionally agreed proposals for reorganisation of the two 
companies ("The Proposals"). 
 
   The Proposals include: 
 
 
   -- Transfer of the Company's Investment Advisory Agreement to Gresham House 
      Asset Management Limited 
 
   -- A reduced Investment Advisory fee 
 
   -- A commitment to enhance the Investment Advisory team resources 
 
   -- Enhanced dealflow prospects 
 
   -- A commitment to support share buybacks at a price equivalent to 
      approximately a 2% discount to latest published net asset value 
 
 
   Hazel 2 will seek shareholder approval from its shareholders at a 
general meeting of Hazel 2 scheduled for 7 November 2017. (Shareholder 
approval is required by Hazel 2 as the resolution for Hazel 2 to 
continue as a VCT was not passed by shareholders in January 2017). 
Adoption of the Proposals by the Company is conditional on Hazel 2 
obtaining shareholder approval for the Proposals, such that the two 
companies can continue to operate closely together under a joint 
investment advisory agreement. 
 
   A copy of a letter that will be sent to Shareholders providing more 
detail on the Proposals will be available shortly on the website of the 
Administration Manager, Downing LLP, at https://www.downing.co.uk/hazel1 
 
   Neither the contents of the Downing website nor the contents of any 
website accessible from hyperlinks on the Downing website (or any other 
website) is incorporated into, or forms part of, this announcement. 
 
   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: Hazel Renewable Energy VCT 1 plc via Globenewswire 
 
 
  http://www.hazelcapital.com 
 

(END) Dow Jones Newswires

October 17, 2017 02:00 ET (06:00 GMT)

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