Ingenious Live VCT 1 plc Winding-Up Circular (2891G)

TIDMILV1

RNS Number : 2891G

Ingenious Live VCT 1 plc

27 June 2012

Ingenious Live VCT 1 plc Winding-Up Circular 27 June 2012

Ingenious Live VCT 1 plc and Ingenious Live VCT 2 plc (the "Companies") were launched in November 2006. It was always anticipated since their launch that the Companies would, subject to the minimum five year holding period required under VCT regulations, seek to return capital to their Shareholders in a timely manner, and that investments made by the Companies would be structured to facilitate this.

As stated in the annual report and accounts of each of the Companies for the year ended 31 December 2011, the fifth anniversary of the close of the offer for subscription that took place in 2006/2007 will be reached at the end of July 2012.

Further to the statements made in their annual report and accounts regarding the future of the Companies, each of the Boards have now issued formal proposals for each Company to enter into a winding up and for the appointment by each Company of liquidators. The Companies have issued a joint circular setting out these proposals to be considered by their respective shareholders at General Meetings to be held on 31 July 2012. Trading in the Companies' ordinary shares of 1p each will be suspended at 7.30 a.m. on 31 July 2012.

The Boards are recommending that the Companies be placed into voluntary liquidation and that Steve Ryman and Anthony Davidson of Shipleys LLP be appointed as joint liquidators in relation to each Company with the intention that funds are promptly returned to shareholders by way of capital distributions by the liquidators once the investments have been realised.

If the resolutions are passed at the General Meetings, this will result in the cancellation of the listing of the ordinary shares of 1p each of each of the Companies, which is expected to take place on 29 August 2012, and on that date such shares will cease to trade on the London Stock Exchange.

 
Timetable 
Publication of Notice of General Meeting                                                   27 June 2012 
Latest time and date for receipt of Form of Proxy for Ingenious Live VCT 1 plc General     11.00 a.m. on 27 July 2012 
Meeting 
Latest time and date for receipt of Form of Proxy for Ingenious Live VCT 2 plc General     11.10 a.m. on 27 July 2012 
Meeting 
Dealings in the shares of the Companies suspended                                          7.30 a.m. on 31 July 2012 
Ingenious Live VCT 1 plc General Meeting                                                   11.00 a.m. on 31 July 2012 
Ingenious Live VCT 2 plc General Meeting                                                   11.10 a.m. on 31 July 2012 
Expected date of cancellation of the listing of the shares of the Companies on the         8.00 a.m. on 29 August 2012 
Official 
List 
 

A copy of the circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.

Enquiries to:

Sarah Cruickshank

Company Secretary

Ingenious Live VCT 1 plc & Ingenious Live VCT 2 plc

15 Golden Square

London

W1F 9JG

Tel: [phone]

MHP Communications

Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson

Tel: [phone]

[e-mail]

This information is provided by RNS

The company news service from the London Stock Exchange

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