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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ingenious 1 H | LSE:IE1H | London | Ordinary Share | GB00B956JT75 | H SHS 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.00 | - |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMIE1H
Ingenious Entertainment VCT 1 plcIngenious Entertainment VCT 2 plcWinding-Up Circular
9 October 2018
Ingenious Entertainment VCT 1 plc and Ingenious Entertainment VCT 2 plc (the "Companies") were launched in November 2007. It was always anticipated since the 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 2017, all Shareholders who subscribed for Shares under the original offers for subscription for the G Shares and H Shares have now held those Shares for the minimum five years required by VCT legislation. Accordingly, the Boards are proposing a formal winding up of each of the Companies to allow the repayment of capital and for the winding up of the Companies.
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 1 November 2018. Trading in the Companies' G Shares and H Shares will be suspended at 7.30 a.m. on 1 November 2018.
The Boards are recommending that the Companies be placed into voluntary liquidation and that Lloyd Edward Hinton of Insolve Plus Ltd be appointed as liquidator in relation to each Company with the intention that funds are returned to shareholders by way of capital distributions by the liquidator when the investments have been realised. It is expected that the liquidator will make multiple distributions in relation to each Company over time, as investments are realised.
If the resolutions are passed at the General Meetings, this will result in the cancellation of the listing of the G Shares and H Shares of each of the Companies, which is expected to take place on 2 November 2018, and on that date such shares will cease to trade on the London Stock Exchange.
Timetable Publication of Notice of General Meeting 9 October 2018 Latest time and date for receipt 11.00 a.m. on 30 October 2018 of Form of Proxy for Ingenious Entertainment VCT 1 plc General Meeting Latest time and date for receipt 11.30 a.m. on 30 October 2018 of Form of Proxy for Ingenious Entertainment VCT 2 plc General Meeting Dealings in the G Shares and H Shares 7.30 a.m. on 1 November 2018 of the Companies suspended Ingenious Entertainment VCT 11.00 a.m. on 1 November 2018 1 plc General Meeting Ingenious Entertainment VCT 11.30a.m. on 1 November 2018 2 plc General Meeting Expected date of cancellation of 8.00 a.m. on 2 November 2018 the listings of the G Shares and H Shares of the Companies on the Official List
A copy of the circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.morningstar.co.uk/uk/NSM.
Name of contact and telephone number for enquiries:
Sarah CruickshankCompany SecretaryIngenious Entertainment VCT 1 plc andIngenious Entertainment VCT 2 plc15 Golden SquareLondonW1F 9JG
020 7319 4000
Powerscourt GroupTheo CrutcherTel: +44 (0)20 7250 1446ingenious@powerscourt-group.com
View source version on businesswire.com: https://www.businesswire.com/news/home/20181009005921/en/
This information is provided by Business Wire
(END) Dow Jones Newswires
October 09, 2018 13:00 ET (17:00 GMT)
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