Conversion of Shares
April 01 2011 - 8:27AM
UK Regulatory
TIDMAATC
Albion Technology & General VCT PLC
Conversion of 'C' Ordinary Shares into Ordinary Shares
Albion Technology & General VCT PLC announces the conversion of its 'C' ordinary
shares into Ordinary shares as follows:
In accordance with the Articles of Association, on 31 March 2011, the Company's
'C' ordinary shares converted to Ordinary shares on the basis of the net assets
attributable to the Ordinary shares and the 'C' ordinary shares as disclosed in
the audited accounts for the year to 31 December 2010 and in accordance with the
calculation as described and approved by shareholders' resolution number 4 at
the Extraordinary General Meeting on 8 December 2005. 'C' ordinary shareholders
will therefore receive 0.7779 Ordinary shares for each 'C' ordinary share they
currently own.
At close of business 31 March 2011, Albion Technology & General VCT PLC's issued
share capital consisted of 14,475,832 Ordinary shares and 36,678,643 'C'
ordinary shares, both with a nominal value of 50p. Albion Technology & General
VCT PLC held 1,358,870 Ordinary shares and 2,323,567 'C' ordinary shares in
Treasury.
Following the conversion of 'C' ordinary shares into Ordinary shares,
28,532,316 new Ordinary Shares have been issued. Therefore, as at 1 April
2011, Albion Technology & General VCT PLC's capital consists of 43,008,148
Ordinary shares with a nominal value of 50p each. Albion Technology & General
VCT PLC holds 3,166,372 Ordinary shares in Treasury.
Therefore the total number of voting rights in Albion Technology & General VCT
PLC is 39,841,776 which may be used by shareholders as the denominator for the
calculations by which they will determine if they are required to notify their
interest in, or a change to their interest in, Albion Technology & General VCT
PLC under the FSA's Disclosure and Transparency rules.
The newly issued Ordinary shares will rank pari passu with the existing Ordinary
Shares in issue. The Ordinary shares representing fractional entitlements will
not be issued to 'C' shareholders but will be aggregated and sold in the market
for the benefit of the Company. Application has been made for the new Ordinary
shares to be admitted to the Official List and to trading on the London Stock
Exchange's Main Market for listed securities and it is expected that dealings
will commence on 4 April 2011.
Following the issue of the new Ordinary shares arising on conversion, the
listing of the 'C' ordinary shares will be cancelled. The new Ordinary share
certificates will be despatched to shareholders by 30 April 2011.
Albion Ventures LLP
Company Secretary
Albion Technology & General VCT PLC
1 April 2011
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: Albion Technology & General VCT PLC - C Shares via Thomson Reuters ONE
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