Neptune-Calculus Income & Growth Regulatory News (NEP)

2 Jul 2007 14:50

Neptune-Calculus Income &Growth VCT02 July 2007 Resignation of Director The Board of the Neptune-Calculus Income & Growth VCT plc wishes to announce theresignation of Robin Geffen as a director (effective immediately) due to the pressure of his other business commitments. Mr Geffen is Managing Director and Chief Investment Officer of Neptune Investment Management Limited, the manager of the VCT's non-VCT qualifying investments. The VCT's Ordinary Share Fund and C Share Fund must be at least 70% invested inVCT qualifying investments by 31 December 2007 and 31 December 2008respectively. Consequently, the percentage of the VCT's funds invested innon-qualifying investments has continued to decrease since the date of our lastupdate in May. As such, the Board has decided not to appoint a replacement forMr Geffen and suitable reporting and liaison arrangements have been put in placewith Neptune which will continue to manage the VCT's remaining non-qualifyinginvestments. The Board wishes to thank Mr Geffen for his contribution in the successfulestablishment of the VCT. This information is provided by RNS The company news service from the London Stock Exchange