Last checked at 
19 Nov 2014 09:55
The Board of New Century Aim 2 VCT Plc announces that it has arranged a Tender Offer to purchase up to 10% in aggregate of the Company’s issued share capital at a 5% discount to net asset value based on the closing prices of the 10th December, 2014. Shareholder approval for this offer was given at the latest AGM.
The Board is aware that liquidity in the shares has been difficult which on occasions has led to a wide disparity between the share price and net asset value. The buy back helps to address this issue and allows shareholders that should so wish, to dispose of shares at a price which more fully reflects the net asset value. Shares not tendered in the buy back will be available for excess applications by shareholders wishing to sell more than 10% of their holding. On the 11th November, 2014, a 5% discount to the net asset value per share represented 56.95p per share. Should the buy back price fall to below 53p when calculated on the 10th December, 2014, the buy back offer would be withdrawn and shareholders would be notified of new buy back proposals. It is the intention of the Board to carry out further buy backs from time to time.
Full details of the Tender Offer are contained in a circular sent to all registered shareholders on the 19th November, 2014.
Timetable of Events
Latest time and date for receipt of the Tender Offer1pm on the 10th December, 2014.
Registrars Books Closing Date for the Tender Offer.Close of business on the 10th December, 2014
Announcement of the take-up level under the Tender Offer.11th December, 2014.
Settlement date for the Tender OfferCheques despatched and assured payments made through Crest. 15th December, 2014
The dates and times given are based on the Company’s current expectations and may be subject to change. Any changes to the expected timetable will be announced via a Regulatory Information Service.
If you have any queries regarding the procedure for accepting the Tender Offer, please contact Nicky Mitchell on 01268 495123
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