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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ortus Vct | LSE:ORT | London | Ordinary Share | GB0003945101 | 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% | 25.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMMAV4 TIDMORT TIDMMAVS
RNS Number : 8035X
Maven Income & Growth VCT 4 PLC
13 February 2013
Joint Announcement
Maven Income and Growth VCT 4 PLC
Ortus VCT PLC
Merger Update and Potential Top Up Offer
The boards of Maven Income and Growth VCT 4 PLC ("MIG 4") and Ortus VCT PLC ("Ortus") are pleased to confirm that, further to their announcement on 31 October 2012, they have reached agreement in principle to merge the companies.
As previously announced and subject to approval of shareholders of both companies, the merger will be completed pursuant to a s.110 scheme of reconstruction under the Insolvency Act 1986 by transferring the assets and liabilities of Ortus to MIG 4 in consideration for new shares in MIG 4 to be issued to shareholders of Ortus on a relative net asset value basis. A merger on this basis will be outside the provisions of The City Code on Takeovers and Mergers.
It is also intended that MIG 4 will seek shareholder approval to consolidate its share capital by merging the S ordinary shares into the ordinary shares prior to the merger being effected.
In addition, MIG 4 also intends to take the opportunity to raise further funds by making available a top-up offer in respect of its ordinary share class.
Full terms of the merger, MIG 4 share consolidation and MIG 4 top-up offer are expected to be provided to shareholders shortly, at which point a further announcement will be made.
Maven Capital Partners UK LLP
Secretary
13 February 2013
Enquiries:
Maven Capital Partners UK LLP
0141 306 7400
enquries@mavencp.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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