CYS Chrysalis Vct Plc

 
TIDMCYS 
 
   Chrysalis VCT plc (the "Company") 
 
   LEI: 2138009FVDWULSIOX404 
 
   30 October 2020 
 
   Publication of Circular re. Winding-up and Related Party Transaction 
 
   Winding-Up Circular 
 
   It was announced on 21 August 2020 that the Board intended to put to 
Shareholders a proposal for the solvent winding-up of the Company.  A 
circular explaining the proposal for the winding-up and the actions 
which are required for its implementation, together with details of a 
proposed related party transaction, has been published and will be 
posted to Shareholders shortly, together with a notice of a closed 
General Meeting of the Company to be held at 4 p.m. on 26 November 2020. 
 
   The related party transaction involves a variation to the service 
agreement of Chris Kay, a director of Chrysalis VCT Management Limited 
("CVM"), a subsidiary of the Company. Subject to Shareholders' approval, 
the agreement with CVM will be varied to provide for a salary of 
GBP18,000 p.a. and such amount as reduces the net assets of CVM to below 
GBP10,000, subject to its working capital requirements for the following 
period of 12 months. 
 
   If the resolutions are passed at the General Meeting, this will result 
in the cancellation of the listing of the Company's Shares on the 
Official List, which is expected to take place on 27 November 2020, and 
the Shares ceasing to trade on the London Stock Exchange. 
 
   Expected Timetable 
 
 
 
 
Notice of General Meeting                                30 October 2020 
Deadline for receipt of Proxy Forms                      4 p.m. on 24 November 
                                                         2020 
Suspension of the listing of the Shares on the Official  7.30 a.m. on 26 
 List                                                    November 2020 
General Meeting                                          4 p.m. on 26 November 
                                                         2020 
Expected date of cancellation of the listing of the      8.00 a.m. on 27 
 Shares on the Official List                             November 2020 
 
   Documents 
 
   A copy of the circular has been submitted to the National Storage 
Mechanism and will shortly be available for inspection at 
https://www.globenewswire.com/Tracker?data=_UAg1BFoGNoP9cOrxLR7CQ3DQudHskrB8OThj5YEJvi5aZSnGpxhz3IWbbC3MTVYc0pujYwqsvz4ZLIRCqSXzoBulixtO1Ym96eKQiKgwPSM2kDw-swkHZw8OhPnKo79FVxkNN2PoA1MyAQuI4groIASzVqG7I0SrB29stQEluoFPhUJhwthW0aQ-Q1A_r28 
https://data.fca.org.uk/#/nsm/nationalstoragemechanism. 
 
   Enquiries 
 
   Grant Whitehouse                                      Company Secretary                 0207 416 7780 
 
 
 
 
 
 
 

(END) Dow Jones Newswires

October 30, 2020 13:27 ET (17:27 GMT)

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