Albion Crown Regulatory News (CRWN)

23 May 2005 17:44

Murray VCT 3 PLC23 May 2005 23 May 2005 MURRAY VCT 3 PLC The Boards of Murray VCT, Murray VCT2 and Murray VCT3 ("the companies" or"Murray VCTs") are aware that actions are being taken by a shareholder, MrCharles Clark ("the requisitionist") to try and encourage shareholder supportfor changes he is proposing to board membership of the companies and potentiallythereafter to the management arrangements for the funds. This proposedrequisitionist action involves circulating shareholders with a letter seekingshareholder support to introduce resolutions for changes to the Boards at thecompanies' forthcoming AGMs and volunteering new board members to replace theexisting boards. The boards were entirely unaware of this initiative until contacted by anewspaper journalist. They have had no contact with the requisitionist. Theyhave insufficient information to determine the motivation and standing behindthis potentially hostile initiative. The Boards of the VCTs are unanimous in recommending that shareholders take noaction in respect of this initiative. The Boards and their advisers will engagewith the proposed requisitionist as soon as is reasonably practical to ascertainwho is supporting the initiative, including providing briefings to the press,what the requisitionist's ambitions are for potential changes to the companiesand what has given rise to such an unusual shareholder action, particularly asthere has been no prior engagement with the boards. The boards will thencirculate shareholders with the results of their investigations and board advice(as they are bound to do under the provisions of the Listing Rules and theTakeover Code), particularly where an attempt may be being made to obtain orconsolidate control of the companies. For further information: Gordon Beattie, Beattie Financial, Telephone: 020 7053 6000 This information is provided by RNS The company news service from the London Stock Exchange