LONDON--(BUSINESS WIRE)--
Ingenious Entertainment VCT 1 plc
Ingenious 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 2008 the Companies made an offer for subscription for C shares of 1p each (the “C Shares”). It was always anticipated that the Companies would seek to return funds to the subscribers for C Shares as soon as possible after the five year holding period stipulated in VCT regulations had ended. The fifth anniversary of the close of the offer for C Shares has now passed and each of the Companies’ boards have agreed formal proposals to return the residual capital paid up on the C Shares to their holders and to cancel, extinguish and repay the C Shares by means of a court approved reduction of capital.
The Companies have issued a joint 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 27 November 2014.
If the resolutions are passed at the Meetings, a court hearing will take place, following which the cancellation, extinguishment and repayment of the C Shares will be effected. Trading in the C Shares will then be suspended at 7.00 a.m. on or around 17 December 2014 and their listing and admission to trading will subsequently be cancelled, which is expected to take place on or around 19 December 2014.
| Expected Timetable | |||
| Publication of Notice of Meetings | 30 October 2014 | ||
| Latest date for receipt of Form of Proxy for Ingenious Entertainment VCT 1 plc Meetings | 25 November 2014 | ||
| Latest date for receipt of Form of Proxy for Ingenious Entertainment VCT 2 plc Meetings | 25 November 2014 | ||
| Dealings in the shares of the Companies suspended | 17 December 2014 | ||
| Ingenious Entertainment VCT 1 plc Meetings | 27 November 2014 | ||
| Ingenious Entertainment VCT 2 plc Meetings | 27 November 2014 |
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
15 Golden Square
London
W1F 9JG
Tel: 020 7319 4000
Carmen Murray
Powerscourt Group
0207 250 1446