Octopus Apollo VCT Octopus Apollo Vct Plc : Merger Update - Approval Of Scheme
January 27 2016 - 4:04AM
UK Regulatory
TIDMOAP3 TIDMOVC2
Octopus Apollo VCT plc ("Apollo")
Octopus VCT 2 plc ("OVCT 2")
(together the "Companies")
27 January 2016
Merger Update: Approval of Scheme
This announcement is made by the Companies in connection with the scheme
of reconstruction of OVCT 2 (the "Scheme"), details of which were
contained in the prospectus and circulars issued by the Companies on 2
November 2015.
The boards of directors of the Companies are pleased to report that the
resolution proposed at the second general meeting of OVCT 2 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 OVCT 2 have
been transferred to Apollo, in consideration for the issue of a total of
19,082,726 D ordinary shares of 1p each in the capital of Apollo to the
former shareholders of OVCT 2 ("Scheme Shares") at a deemed issue price
of 100p per Scheme Share.
Following the issue of the Scheme Shares, the total number of Apollo's
issued ordinary shares of 10p each is 135,086,618 and the total number
of Apollo's issued D ordinary shares of 1p each is 19,082,726.
Following the implementation of the Scheme, OVCT 2 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 28 January
2016.
OVCT 2 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 8am on 28 January 2016.
As a result of the Scheme becoming effective, Matthew Cooper has
resigned as a director of Apollo and Ian Pearson has been appointed as a
director of Apollo.
Information required to be disclosed in respect of Ian Pearson pursuant
to paragraph LR 9.6.13R of the Listing Rules of the Financial Services
Authority is as follows:
Details of all directorships held in any other publicly quoted company
at any time in the previous five years are as follows:
Octopus VCT 2 plc
There are no other disclosures to be made under Listing Rule 9.6.13R.
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 further information please contact:
Nicola Board
Company Secretary
020 7776 8663
This announcement is distributed by NASDAQ OMX Corporate Solutions on
behalf of NASDAQ OMX 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: Octopus Apollo VCT plc via Globenewswire
HUG#1981548
(END) Dow Jones Newswires
January 27, 2016 05:04 ET (10:04 GMT)
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