Chrysalis VCT Plc Update On Preparation Of Proposals For Company To Commence A Vct Winding Up Period
October 23 2020 - 1:00AM
UK Regulatory
TIDMCYS
Chrysalis VCT plc
LEI: 2138009FVDWULSIOX404
23 October 2020
Update on preparation of proposals for Company to commence a VCT winding
up period
On 21 August 2020, the Company announced that the Board was preparing
formal proposals to be put to Shareholders for approval for the Company
to commence a formal VCT winding up period and to put the Company into
Members' Voluntary Liquidation.
The Company also announced its intention to cease undertaking any share
buyback once these proposals were published by the Company.
The Board now expects the proposals to be published by the Company on or
around 30 October 2020. Accordingly, the board does not expect the
Company to undertake any further share buybacks after this date.
Full details of the proposals and the General Meeting will be included
in the circular that the Company will send to all shareholders.
The Company also announces that its unaudited Net Asset Value as at 30
September 2020 stood at 52.8p per share. This value will be used as the
basis for any further share buybacks that the Company undertakes. The
Company has previously announced that, until the above proposals are
published, it intends to buy back shares that become available in the
market at a discount of approximately 25% to the latest published NAV
(now equivalent to 36.6p per share).
(END) Dow Jones Newswires
October 23, 2020 02:00 ET (06:00 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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