Hargreave Hale AIM 2 Hargreave Hale Aim Vct 2 Plc : Doc Re. Possible Merger
27 12월 2017 - 6:07PM
UK Regulatory
TIDMHHVT
Hargreave Hale AIM VCT 1 Plc
Hargreave Hale AIM VCT 2 Plc
27 December 2017
Possible merger between Hargreave Hale AIM VCT 1 Plc ("HH1") and
Hargreave Hale AIM VCT 2 Plc ("HH2") (together, the "Companies")
The board of directors of the Companies announce that they have entered
into discussions regarding a possible merger of the Companies
("Merger"). These discussions may or may not lead to an agreement to
merge the Companies. If the Merger is to proceed, the current intention
is that it will be effected pursuant to a scheme of reconstruction under
s.110 of the Insolvency Act 1986 by transferring the assets and
liabilities of HH2 to HH1 in consideration for the issue of new HH1
shares to HH2 shareholders on a relative net asset value basis. A merger
solely on this basis would be outside the provisions of The City Code on
Takeovers and Mergers. If the Merger proceeds it will be subject to the
approval of shareholders of both Companies.
HH1 is also proposing in early February 2018 to launch an offer for
subscription to raise up to GBP20 million with an overallotment facility
of a further GBP10 million ("Offer").
If the Merger proceeds, it is anticipated that the Prospectus and
Circulars required under the Listing Rules and companies legislation
("Merger Documents") would be despatched to shareholders in early
February 2018, with shareholders general meetings taking place in early
March, and completion in mid-March. Details of the Offer will also be
set out in the Merger Documents.
A further announcement will be made in due course.
The information contained within this announcement is deemed by the
Companies to constitute inside information as stipulated under the
Market Abuse Regulations (EU number. 596/2014). Upon the publication of
this announcement via Regulatory Information Service this inside
information is now considered to be in the public domain.
For additional information, please contact:
Stuart Brookes
Company Secretary
Hargreave Hale AIM VCT 1 & 2 plc
01253 754740
This announcement is distributed by Nasdaq Corporate Solutions on behalf
of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely
responsible for the content, accuracy and originality of the information
contained therein.
Source: Hargreave Hale AIM VCT 2 plc via Globenewswire
https://hargreaveaimvcts.co.uk/
(END) Dow Jones Newswires
December 27, 2017 04:07 ET (09:07 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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