HHVT Hargreave 2

 
TIDMHHVT 
 
 
   Hargreave Hale AIM VCT 1 plc ("HH1") 
 
   Hargreave Hale AIM VCT 2 plc ("HH2") 
 
   (together the "Companies") 
 
   23 March 2018 
 
   Merger Update: Approval of Scheme 
 
   This announcement is made by the Companies in connection with the scheme 
of reconstruction of HH2 (the "Scheme"), details of which were contained 
in the prospectus (the "Prospectus"), circulars (the "Circulars") and 
the announcements issued by the Companies on 12 February 2018. 
 
   The boards of directors of the Companies are pleased to report that the 
resolution proposed at the second general meeting of HH2 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 HH2 have been 
transferred to HH1, in consideration for the issue of a total of 
68,680,227 ordinary shares of 1p each in the capital of HH1 ("Scheme 
Shares") to the former shareholders of HH2 at a deemed issue price of 
82.07p per Scheme Share. Pursuant to the Scheme, Scheme Shares were 
issued to the former shareholders of HH2 at a ratio of 1.458754 Scheme 
Shares for each HH2 share held. The net asset value of HH1 following the 
Scheme is GBP127,977,633. 
 
   Following the issue of the Scheme Shares, the total number of HH1's 
issued ordinary shares of 1p each is 155,936,403. 
 
   Following the implementation of the Scheme, HH2 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 26 March 
2018. 
 
   HH2 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 7.30am on 26 March 2018. 
 
   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: 
 
   http://www.morningstar.co.uk/uk/NSM 
 
   For additional information, please contact: 
 
   Stuart Brookes 
 
   Company Secretary 
 
   Hargreave Hale AIM VCT 1 & 2 plc 
 
   01253 754740 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq 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: Hargreave Hale AIM VCT 2 plc via Globenewswire 
 
 
  https://hargreaveaimvcts.co.uk/ 
 

(END) Dow Jones Newswires

March 23, 2018 10:03 ET (14:03 GMT)

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