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IGV Income & Growth Vct (the) Plc

66.00
0.00 (0.00%)
24 Dec 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Income & Growth Vct (the) Plc LSE:IGV London Ordinary Share GB00B29BN198 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 66.00 64.50 67.50 66.00 64.50 66.00 1 08:00:25
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Offices-holdng Companies,nec 8.63M 5.49M 0.0179 36.87 201.8M

Income & Growth VCT (The) PLC Merger Discussions

28/02/2024 3:30pm

RNS Regulatory News


RNS Number : 8394E
Income & Growth VCT (The) PLC
28 February 2024
 

JOINT ANNOUNCEMENT - MERGER DISCUSSIONS

Mobeus Income & Growth VCT plc                   (LEI: 213800HKOSEVWS7YPH79)

Mobeus Income & Growth 2 VCT plc                (LEI: 213800LY62XLI1B4VX35)

Mobeus Income & Growth 4 VCT plc                (LEI: 213800IFNJ65R8AQW943)

The Income & Growth VCT plc                         (LEI: 213800FPC15FNM74YD92)

 

28 February 2024

Merger Discussions

The boards of directors of Mobeus Income & Growth VCT plc (MIG), Mobeus Income & Growth 2 VCT plc (MIG 2), Mobeus Income & Growth 4 VCT plc (MIG 4) and The Income & Growth VCT plc (I&G) (together the Companies) announce that they have entered into discussions regarding the possibility of merging the four Companies into two (Mergers) to achieve, amongst other things, cost savings, administration efficiency and simplicity.

If the Mergers are to proceed, the current intentions are that:

·     MIG 2 would be merged into MIG and MIG 4 would be merged into I&G (MIG and I&G being an Acquirer VCT and MIG 2 and MIG 4 being a Target VCT); and

·     each Merger would be effected pursuant to a scheme of reconstruction under s.110 of the Insolvency Act 1986 by transferring the assets and liabilities of the Target VCT to the Acquirer VCT in consideration for new Acquirer VCT shares to be issued to the Target VCT's 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. 

Each Merger will be subject to the approval of the shareholders of the relevant two Companies. However, the Mergers will only be proposed if the boards of all Companies agree to put proposals to their respective shareholders so as to be able to implement both Mergers.

A further announcement will be made in due course.

This announcement contains inside information for the purposes of article 7 of Regulation 2014/596/EU (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) (UK MAR). Upon the publication of this announcement, this inside information (as defined in UK MAR) is now considered to be in the public domain.

 

For further information, please contact:

Gresham House Asset Management Limited

Company Secretary

Telephone: +44 (0)20 7382 0999

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
 
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