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OVCT Octopus Vct

88.00
0.00 (0.00%)
18 Jun 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Octopus Vct LSE:OVCT London Ordinary Share GB00B42T3254 ORD 1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 88.00 0.00 01:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Octopus VCT Octopus Vct Plc : Merger Update: Approval Of Scheme

28/11/2014 1:31pm

UK Regulatory



 
TIDMOVCT 
 
   Octopus Apollo VCT plc ("Apollo") 
 
   Octopus VCT plc ("OVCT") 
 
   (together the "Companies") 
 
   28 November 2014 
 
   Merger Update: Approval of Scheme 
 
   This announcement is made by the Companies in connection with the scheme 
of reconstruction of OVCT (the "Scheme"), details of which were 
contained in the prospectus and circulars issued by the Companies on 24 
October 2014. 
 
   The boards of directors of the Companies are pleased to report that the 
resolution proposed at the second general meeting of OVCT held today 
(the "Second General Meeting") was duly passed and that the Scheme has 
become unconditional. 
 
   In implementing the Scheme, the assets and liabilities of OVCT have been 
transferred to Apollo, in consideration for the issue of a total of 
52,035,840 C ordinary shares of 1p each in the capital of Apollo to the 
former shareholders of OVCT ("Scheme Shares") at a deemed issue price of 
97.8p per Scheme Share. 
 
   Following the issue of the Scheme Shares, the total number of Apollo's 
issued ordinary shares of 10p each is 76,572,663 and the total number of 
Apollo's issued C ordinary shares of 1p each is 52,035,840. 
 
   Following the implementation of the Scheme, OVCT has been placed in 
members' voluntary liquidation. 
 
   Application has been made to the London Stock Exchange for the Scheme 
Shares to be admitted to trading on its main market for listed 
securities and it is expected that the Scheme Shares will be admitted to 
the Official List and that trading will become effective on 1 December 
2014. 
 
   OVCT also announces that further to the resolution passed at the Second 
General Meeting, the listing of its ordinary shares of 1p each on the 
Official List of the UK Listing Authority will be cancelled with effect 
from 8am on 1 December 2014. 
 
   As a result of the Scheme becoming effective, Tony Morgan has resigned 
as a director of Apollo and James Otter has been appointed as a director 
of Apollo. 
 
   Information required to be disclosed in respect of James Otter pursuant 
to paragraph LR 9.6.13R of the Listing Rules of the Financial Services 
Authority is as follows: 
 
   Details of all directorships held in any other publicly quoted company 
at any time in the previous five years: 
 
   Octopus VCT plc 
 
   Hygea VCT plc 
 
   There are no other disclosures to be made under Listing Rule 9.6.13R. 
 
   A copy of the resolution passed at the Second General Meeting has been 
submitted to the National Storage Mechanism and will shortly be 
available for inspection at: 
 
   www.hemscott.com/nsm.do 
 
   For further information please contact: 
 
   Nicola Board 
 
   Company Secretary 
 
   020 7776 8663 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Octopus VCT PLC via Globenewswire 
 
   HUG#1875218 
 
 
 
 

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