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8 Dec 2015 17:10
TP10 VCT plc (the "Company")
London 8 December 2015
ANNOUNCEMENT OF THE WINDING-UP CIRCULAR
Winding-up
A circular explaining the proposal for the solvent winding-up of the Company and the actions which are required for its implementation will be posted to shareholders, together with a notice of the general meeting of the Company to be held at 12.30pm on 7 January 2016 at 18 St Swithin's Lane, London EC4N 8AD (the "General Meeting"). The winding-up is conditional on the approval of the resolutions to be put to the General Meeting (the "Resolutions").
The prospectus that was issued by the Company on 16 September 2009 envisaged that the Company's strategy (after the end of the minimum five year VCT holding period) would be to dispose of or realise investments and distribute the proceeds to shareholders so that an exit could be achieved.
The Company has now realised the majority of its investments and distributions have been made to the ordinary shareholders, totalling in aggregate over the life of the Company 84.83p
The Board is, therefore, now recommending that the Company be placed in voluntary liquidation with the intention that further funds are returned to shareholders by way of a capital distribution by the liquidators. Assuming shareholders accept the Board's recommendation to wind-up the Company, no further audited financial statements or half yearly reports will be issued by the Company and the shares will be de-listed. However, further information about the proceeds of the winding-up will be sent to Shareholders in due course.
If the Resolutions are passed, this will result in the cancellation of the listing of the ordinary shares on the Official List of the UK Listing Authority, which is expected to take place on 8 January 2016, and the Company's ordinary shares ceasing to trade on the London Stock Exchange.
Expected Timetable
Notice of General Meeting | 7 December 2015 |
Deadline for receipt of Proxy Forms | 12.30pm on 5 January 2016 |
Suspension of the listing of the Shares on the Official List | 7.30 am on 7 January 2016 |
General Meeting | 12.30pm on 7 January 2016 |
Expected date of cancellation of the listing of the Shares on the Official List | 8 January 2016 |
Copies of the Circular will shortly be available for inspection at the National Storage Mechanism, which is located at:
http://www.morningstar.co.uk/uk/NSM
and on the Company's website:
www.triplepoint.co.uk
For further information, please contact Triple Point, on 020 7201 8989
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