-

Strategy/Company/Operations Update

LONDON--(BUSINESS WIRE)-- 

Since the agreement with a majority of shareholders to wind down the portfolio, we have reduced the number of holdings from 80 to just 5 with a value of £243,000. The company’s cash balance now stands at £1.523million. Following the approval at the EGM held today to voluntarily wind up the company, we are in a position to commence distributions to shareholders. We plan to initiate this with a distribution of 19p per share. Following this, we shall be left with net assets of around 3.7p per share. With a share price of 1p bid and 50p offered, we are concerned that a false market could arise. We therefore decided to suspend dealings in the shares and in due course we shall take steps to delist. Liquidators have been appointed and it is our intention to pay what assets remain to shareholders once the trust has been fully liquidated and any outstanding liabilities have been settled.

Category Code: UPD
Sequence Number: 1086203
Time of Receipt (offset from UTC): 20230425T145742+0100

Contacts

NEW CENTURY AIM VCT PLC

New Century AIM VCT Plc

LSE:NCA
Release Versions
English

Contacts

NEW CENTURY AIM VCT PLC

More News From New Century AIM VCT Plc

New Century AIM VCT Plc UK Regulatory Announcement: Result of Meeting

LONDON--(BUSINESS WIRE)--  At the General Meeting held at 4pm on the 16th August 2023, all the resolutions announced on the 20th July 2023 were passed The voting was as followed For 2,459,950 Against 33,404 Abstained 305 As a result, the listing for the shares will be cancelled on or around the 25th August 2023...

New Century AIM VCT Plc UK Regulatory Announcement: Strategy/Company/Operations Update

LONDON--(BUSINESS WIRE)--  The Directors of New Century Aim VCT today swore an oath of Declaration of Solvency of the Company. Shareholders have been informed that IN THE MATTER OF THE INSOLVENCY ACT 1986 a General Meeting will be held as follows:  At: Brownheath Park, Gregory Lane, Durley, SO32 2BS On: 16 August 2023 At: 4.00pm For the purpose of considering and, if thought fit, passing the following resolutions:  Special Resolutions 1. That the Company be wound up voluntarily.  2. That the Li...

New Century AIM VCT Plc UK Regulatory Announcement: Strategy/Company/Operations Update

LONDON--(BUSINESS WIRE)--  The winding up process of New Century Aim VCT is now largely complete. The current position is that it has £1.69million in cash and just £65,700 in 2 securities, both of which are fairly marketable. This represents 22.34p per share. These reserves are not distributable as a dividend but can be distributed once we wind up the company. In this respect, we would hold a small amount in reserve to pay any eventual potential winding up costs which are expected to be insigni...
Back to Newsroom