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IE1H Ingenious 1 H

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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

Ingenious Ent VCT 1 Circ re. Winding Up

09/10/2018 6:00pm

UK Regulatory


Ingenious 1 H (LSE:IE1H)
Historical Stock Chart


From Mar 2019 to Mar 2024

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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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