Results of GM and Scheme calculations (5263Z)

TIDMLGIV

RNS Number : 5263Z

Longbow Growth and Income VCT

16 March 2012

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN OR south africa OR any jurisdiction in which the same could be unlawful. the information contained herein does not constitute an offer of securities for sale in any jurisdiction, including in the united states, CANADA, australia, japan OR south africa.

16 March 2012

LONGBOW GROWTH AND INCOME VCT PLC

RESULTS OF GENERAL MEETING HELD ON 16 MARCH 2012 AND SCHEME CALCULATIONS

Longbow Growth and Income VCT plc (the "Company") refers to the circular published by the Company on 10 February 2012 and announces that at the Second General Meeting, which was held earlier today, the special resolution to place the Company in members' voluntary liquidation was passed and the Company is now in liquidation. A copy of this resolution has been submitted to the National Storage Mechanism and will shortly be available for inspection at http://www.hemscott.com/nsm.do. Details of the number of proxy votes cast for, against and withheld on the resolution will be published on the Company's website, www.longbow.co.uk.

The Company also announces that it has forfeited and cancelled a further 10,200 Ordinary Shares allocated pursuant to its offer for subscription in July 2011 in respect of which the issue price remains unpaid. The Company now has 1,047,392 Ordinary Shares in issue, each with voting rights. Under the terms of the Scheme, details of which were set out in the Circular, the FAV per LGIV Share, calculated on the basis of the net asset value of the Company as at close of business on 13 March 2012 (the "Calculation Date") was 88.92 pence and the FAV per ProVen Health VCT Share was 43.30 pence. Based on the FAV per LGIV Share and the FAV per ProVen Health VCT Share set out above, an LGIV Shareholder will receive approximately 2.05 New ProVen Health VCT Shares under the Scheme in respect of each such Ordinary Share held. The New ProVen Health VCT Shares to be issued pursuant to the Scheme will be admitted to the premium segment of the Official List and to trading on the London Stock Exchange's main market for listed securities on 19 March 2012 and the first day of dealings in such securities will be 19 March 2012.

Capitalised terms shall bear the meanings given to them in the Circular published by the Company on 10 February 2012 unless the context otherwise requires.

Enquiries:

 
 Edward Beckett 
  Longbow Capital LLP           020 7332 0320 
 Robin Smeaton                  0131 243 7210 
 The City Partnership (UK) 
  Limited, Company Secretary 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

ROMLLFEFVRIRLIF