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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Octopus Ecl.4 | LSE:OEC4 | London | Ordinary Share | GB00B0FXS097 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 39.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMOEC4 JOINT ANNOUNCEMENT OCTOPUS ECLIPSE VCT PLC ("ECLIPSE") OCTOPUS ECLIPSE VCT 2 PLC ("ECLIPSE 2") OCTOPUS ECLIPSE VCT 3 PLC ("ECLIPSE 3") OCTOPUS ECLIPSE VCT 4 PLC ("ECLIPSE 4") POSSIBLE MERGER PURSUANT TO SCHEMES OF RECONSTRUCTION UNDER S.110 OF THE INSOLVENCY ACT 1986 The Boards of Eclipse, Eclipse 2, Eclipse 3 and Eclipse 4, which are all managed by Octopus Investments Limited, are pleased to announce that they have reached agreement, in principle, on terms to merge the four companies. The merger is intended to achieve, amongst other things, cost savings, administrative efficiency and the potential for a more diverse portfolio through the creation of a significantly enlarged VCT to provide benefits for all shareholders. The intention is that the proposed merger will be completed by placing each of Eclipse 2, Eclipse 3 and Eclipse 4 into members' voluntary liquidations pursuant to a scheme of reconstruction under s.110 of the Insolvency Act 1986 and the transfer of their assets and liabilities to Eclipse in consideration for new Eclipse shares to be issued to Eclipse 2, Eclipse 3 and Eclipse 4 shareholders. A merger on this basis will be outside the provisions of The City Code on Takeovers and Mergers. Each scheme will require the approval of the shareholders of the relevant companies, will be completed on a relative net asset value basis and will not be conditional on the other schemes proceeding. Formal proposals, including the procedure for shareholders to vote on the proposals, will be provided to shareholders of all the relevant companies, at which point, a further announcement will be made. Enquiries: Celia Whitten Company Secretary 020 7710 2849 or Trish Standaloft 020 7710 6471 This announcement is distributed by Thomson Reuters on behalf of Thomson Reuters clients. The owner of this announcement warrants that: (i) the releases contained herein are protected by copyright and other applicable laws; and (ii) they are solely responsible for the content, accuracy and originality of the information contained therein. Source: Octopus Eclipse VCT 4 plc via Thomson Reuters ONE [HUG#1634360]
1 Year Octopus Ecl.4 Chart |
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