Mobeus I&g Regulatory News (MIX)

20 May 2010 15:22

MATRIX INCOME & GROWTH VCT PLC

Merger Update and Board Changes

20 May 2010

This announcement is made by Matrix Income & Growth VCT plc ("the Company") in connection with the proposed merger of the Company with Matrix Income & Growth 3 VCT plc ("VCT 3") ("Scheme"), details of which were contained in the Company's prospectus ("the Prospectus") and circular to shareholders ("the Circular") both dated 14 April 2010.

The board of directors of the Company ("the Board") is pleased to advise that the resolution proposed at the general meeting of VCT 3 held today was duly passed to be able to implement and effect the Scheme.

By way of implementation of the Scheme, the assets and liabilities of VCT 3 have been transferred to the Company, in consideration for the issue of new ordinary shares of 1p each in the capital of the Company ("Shares") as set out below.

The total number of Shares issued to VCT 3 shareholders in connection with the Scheme was 20,572,129, at a deemed issue price of 83.89934982p per share. The current number of Shares in issue, therefore, is 40,912,118.

Application will shortly be made for all the Shares issued pursuant to the Scheme to be admitted to the Official List and to trading on the main market of the London Stock Exchange. It is expected that admission will become effective and that trading will commence on 21 May 2010.

The Board further announces that following the Scheme becoming effective, Christopher Moore has stepped down as a director of the Company and takes this opportunity to thank him for the experience he has brought and the commitment he has shown to the Company since the Company was launched.

For further enquiries please contact:

Rob Brittain or Sarah Penfold

Matrix Private Equity Partners LLP/Matrix-Securities Limited

Company Secretary

Telephone: 020 3206 7102