Prior Notice of Merger


 
TIDMMIX TIDMMIXT 
 
JOINT ANNOUNCEMENT 
 
MATRIX INCOME & GROWTH VCT PLC ("VCT 1") AND MATRIX INCOME & GROWTH 3 VCT PLC 
("VCT 3") 
 
Possible merger pursuant to a s.110 scheme of reconstruction under the 
Insolvency Act 1986 
 
The boards of VCT 1 and VCT 3, which are both managed by Matrix Private Equity 
Partners LLP, are pleased to announce that they have reached agreement in 
principle on terms to merge the companies, subject to approval by shareholders 
of both companies, to achieve, amongst other things, cost savings for the 
benefit of all shareholders. 
 
The intention is that this proposed merger will be completed pursuant to a 
s.110 scheme of reconstruction under the Insolvency Act 1986 by transferring 
the assets and liabilities of VCT 3 to VCT 1 in consideration for new VCT 1 
shares to be issued to VCT 3 shareholders on a relative net asset value basis. 
A merger on this basis will be outside the provisions of The City Code on 
Takeovers and Mergers. 
 
Formal proposals will be forwarded to shareholders of both VCT 1 and VCT 3 when 
they have been finalised in April, at which point, a further announcement will 
be made. 
 
Enquiries: 
 
 
Mark Wignall 
 
Matrix Private Equity Partners LLP (Investment Manager) 
 
Tel 020 3206 7265 
 
Rob Brittain/Sarah Penfold 
 
Matrix-Securities Limited (Company Secretary) 
 
Tel 020 3206 7102 
 
Kavita Patel 
 
Martineau (Solicitors) 
 
Tel 0800 763 2000 
 
 
 
END

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