Merger Update
April 01 2010 - 8:43AM
UK Regulatory
TIDMPNEA
Downing Distribution VCT 1 plc
Pennine Aim VCT 5 plc
Pennine AIM VCT 6 plc
Merger Update
Joint Announcement
1 April 2010
This announcement is made by the Company in connection with the schemes of
reconstruction in relation to the merger of Downing Distribution VCT 1 plc
(formerly The AIM Distribution Trust plc) ("AIMDIT") with Pennine AIM VCT 5 plc
("P5") and Pennine AIM VCT 6 plc ("P6") details of which were contained in the
Company's prospectus (the "Prospectus") and circular to shareholders (the
"Circular") both dated 26 February 2010.
The board of directors of AIMDIT, P5 and P6 are pleased to advise that the
resolutions proposed at the general meetings of P5 and P6 held today were both
duly passed unanimously.
In implementating the Schemes, the assets and liabilities of P5 and P6 have been
transferred to AIMDIT, in consideration for the issue of ordinary shares of 1
pence each in the capital of the AIMDIT Company (the "Shares"), as summarised
below.
The total number of Shares issued to P5 shareholders in connection with the P5
Scheme was 6,478,439.
The total number of Shares issued to P6 shareholders in connection with the P6
Scheme was 10,792,547.
Application will shortly be made for all the Shares issued to be admitted to the
Official List and to trading on the main market of the London Stock Exchange.
It is expected that admission will become effective and that trading will
commence on 6 April 2010.
For further enquiries please contact:
Grant Whitehouse
Company Secretary
Downing Distribution VCT 1 plc
Tel: 020 7416 7780
[HUG#1400365]
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