Ingenious Live VCT 2 plc Winding-Up Circular (2895G)
June 27 2012 - 10:10AM
UK Regulatory
TIDMILV2
RNS Number : 2895G
Ingenious Live VCT 2 plc
27 June 2012
Ingenious Live VCT 2 plc Winding-Up Circular 27 June 2012
Ingenious Live VCT 1 plc and Ingenious Live VCT 2 plc (the
"Companies") were launched in November 2006. It was always
anticipated since their launch that the Companies would, subject to
the minimum five year holding period required under VCT
regulations, seek to return capital to their Shareholders in a
timely manner, and that investments made by the Companies would be
structured to facilitate this.
As stated in the annual report and accounts of each of the
Companies for the year ended 31 December 2011, the fifth
anniversary of the close of the offer for subscription that took
place in 2006/2007 will be reached at the end of July 2012.
Further to the statements made in their annual report and
accounts regarding the future of the Companies, each of the Boards
have now issued formal proposals for each Company to enter into a
winding up and for the appointment by each Company of liquidators.
The Companies have issued a joint circular setting out these
proposals to be considered by their respective shareholders at
General Meetings to be held on 31 July 2012. Trading in the
Companies' ordinary shares of 1p each will be suspended at 7.30
a.m. on 31 July 2012.
The Boards are recommending that the Companies be placed into
voluntary liquidation and that Steve Ryman and Anthony Davidson of
Shipleys LLP be appointed as joint liquidators in relation to each
Company with the intention that funds are promptly returned to
shareholders by way of capital distributions by the liquidators
once the investments have been realised.
If the resolutions are passed at the General Meetings, this will
result in the cancellation of the listing of the ordinary shares of
1p each of each of the Companies, which is expected to take place
on 29 August 2012, and on that date such shares will cease to trade
on the London Stock Exchange.
Timetable
Publication of Notice of General Meeting 27 June 2012
Latest time and date for receipt of Form of Proxy for Ingenious Live VCT 1 plc General 11.00 a.m. on 27 July 2012
Meeting
Latest time and date for receipt of Form of Proxy for Ingenious Live VCT 2 plc General 11.10 a.m. on 27 July 2012
Meeting
Dealings in the shares of the Companies suspended 7.30 a.m. on 31 July 2012
Ingenious Live VCT 1 plc General Meeting 11.00 a.m. on 31 July 2012
Ingenious Live VCT 2 plc General Meeting 11.10 a.m. on 31 July 2012
Expected date of cancellation of the listing of the shares of the Companies on the 8.00 a.m. on 29 August 2012
Official
List
A copy of the circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
www.hemscott.com/nsm.do.
Enquiries to:
Sarah Cruickshank
Company Secretary
Ingenious Live VCT 1 plc & Ingenious Live VCT 2 plc
15 Golden Square
London
W1F 9JG
Tel: 020 7319 4000
MHP Communications
Reg Hoare / Barnaby Fry / Simon Hockridge / Giles Robinson
Tel: 020 3128 8100
ingenious@mhpc.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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