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LONDON (Alliance News) - Maven Income & Growth VCT 4 PLC on Thursday said it is in discussions with Maven Income & Growth VCT 2 PLC regarding a potential merger.
The company said that there is no guarantee that the talks will lead to an agreement to merge. However, it noted, that if the merger will proceed, the assets and liabilities of Maven VCT 2 will be transferred to Maven VCT 4.
In turn, Maven VCT4 will issue shares to Maven VCT 2 shareholders on a relative net asset value basis. The move is expected to achieve cost savings through the establishment of a larger combined fund, Maven VCT4 explained.
The merger also requires formal approval from from the shareholders of both companies. Thus, general meetings take place in early November with the transaction expected to complete in mid-November.
Shares in Maven VCT 4 closed down 3.8% on Thursday at 63.00 pence each, while Maven VCT 2 shares closed 7.6% lower at 30.40p per share.
