16 Dec 2021 15:30
Edge Performance VCT plc (the "Company")
I Share Conversion; De-listing of I Shares; and Listing of H Shares
Further to the resolution of the board of directors of the Company ("Board") to simplify the Company's capital structure by invoking the share conversion provisions in the Company's articles of association (the "Articles"), the Company announces that today 73,103,650 I shares were converted into 3,252 H shares and 73,100,398 deferred shares.
In accordance with the Company's Articles, the Company's I shares were converted into H shares and deferred shares by reference to the ratio of the relative underlying net asset values of the I shares and H shares as at 6 December 2021 (the "calculation date"), which ratio was 1:0.00004449. This ratio was applied to the total number of I shares in issue at the calculation date in order to determine the total number of H shares arising as a consequence of conversion. Each I share which was not converted to an H share was converted to a deferred share. The H shares and the deferred shares were then allocated among the I shareholders in proportion to the number of I shares held by each of them, rounded down to the nearest whole number of shares.
The resulting H shares will rank pari passu with the existing H shares in the Company.
The resulting H shares have been allotted conditional only to admission to the Official List of the Financial Conduct Authority ("FCA") and to trading on the main market of the London Stock Exchange ("LSE").
Application is being made for the listing of the 3,252 H shares arising from the I share conversion on the Official List of the FCA and for their trading on the premium segment of the main market of the LSE. It is expected that admission will occur and dealings will commence in such H shares on 17 December 2021.
All of the Company's I shares (73,103,650 I shares) are being de-listed from each of the Official List of the FCA and the main market of the LSE.
As resolved by the Board, all deferred shares arising out of the conversion were repurchased by the Company immediately upon conversion and then cancelled in accordance with the Articles.
Total Voting Rights
Following the conversion, the Company's issued share capital will consist of 11,595,682 H shares.
Therefore, the total number of voting rights in the Company is 11,595,682 H shares. This figure may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure Guidance and Transparency Rules.
For further information, please contact:
· Edge Investments Limited, investment manager: info@edge.vc
· The City Partnership (UK) Limited, company secretary: enquiries@city.uk.com