Ingenious Ent VCT 1 Circ re.reduction of capital
November 11 2016 - 8:15AM
UK Regulatory
TIDMIE1F
11 November 2016
Ingenious Entertainment VCT 1 plcIngenious Entertainment VCT 2
plc
Publication of a Circular
Ingenious Entertainment VCT 1 plc and Ingenious Entertainment
VCT 2 plc (the "Companies") were launched in November 2007 through
an offer for subscription for ordinary shares of 1p each in each of
the Companies. In 2009 the Companies made an offer for subscription
for D ordinary shares of 1p each in each of the Companies (the "D
Shares") and in 2010 they made further offers for subscription for
E ordinary shares of 1p each and F ordinary shares of 1p each in
each of the Companies (the "E Shares" and the "F Shares"
respectively). It was always anticipated that the Companies would
seek to return funds to the subscribers for D Shares, E Shares and
F Shares as soon as possible after the respective five year holding
period for each share class stipulated in VCT regulations had
ended. The fifth anniversary of the close of all of those offers
has now passed and each of the Companies' boards have agreed formal
proposals to return the residual capital paid up on the D Shares,
the E Shares and the F Shares to the holders of those shares and to
cancel and extinguish those shares by means of a Court approved
reduction of capital.
The Companies have issued a joint circular (the "Circular")
setting out these proposals in full and giving notice of general
and class meetings (the "Meetings") at which the resolutions to
enable these proposals are to be considered by their respective
shareholders. The Meetings are to be held on 8December 2016.
If all the resolutions are passed at the Meetings, Court
hearings will then take place, following which the cancellation and
extinguishment of the D Shares, the E Shares and the F Shares will
be effected. Following the cancellation and extinguishment of those
shares, they will be subsequently removed from the Official List of
the UKLA and from trading on the London Stock Exchange, which is
expected to take place on or around 23 January 2017.
Expected Timetable
Publication of Notice of Meetings 11 November 2016
Latest date for receipt 6 December 2016
of Form of Proxy for
Ingenious Entertainment
VCT 1 plc Meetings
Latest date for receipt 6 December 2016
of Form of Proxy for
Ingenious Entertainment
VCT 2 plc Meetings
Meetings of Ingenious Entertainment 8 December 2016
VCT 1 plc
Meetings of Ingenious Entertainment 8 December 2016
VCT 2 plc
Register of members in relation 5.30 pm on 17 January 2017
to the D Shares,
E Shares and F Shares
of each Company closes
Expected date of removal of the 23 January 2017
listing of the D Shares,
E Shares and F Shares
from the Official List
A copy of the Circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
the following web-site address:
http://www.morningstar.co.uk/uk/NSM.
Enquiries to:
Sarah CruickshankCompany SecretaryIngenious Entertainment VCT 1
plcIngenious Entertainment VCT 2 plc
15 Golden SquareLondonW1F 9JGTel: 020 7319 4000
Theo CrutcherPowerscourt GroupTel: 020 7250
1446ingenious@powerscourt-group.com
View source version on businesswire.com:
http://www.businesswire.com/news/home/20161111005355/en/
This information is provided by Business Wire
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