Chrysalis VCT Plc Circ Re.Winding-up And Related Party Transaction
30 Octobre 2020 - 6:27PM
UK Regulatory
TIDMCYS
Chrysalis VCT plc (the "Company")
LEI: 2138009FVDWULSIOX404
30 October 2020
Publication of Circular re. Winding-up and Related Party Transaction
Winding-Up Circular
It was announced on 21 August 2020 that the Board intended to put to
Shareholders a proposal for the solvent winding-up of the Company. A
circular explaining the proposal for the winding-up and the actions
which are required for its implementation, together with details of a
proposed related party transaction, has been published and will be
posted to Shareholders shortly, together with a notice of a closed
General Meeting of the Company to be held at 4 p.m. on 26 November 2020.
The related party transaction involves a variation to the service
agreement of Chris Kay, a director of Chrysalis VCT Management Limited
("CVM"), a subsidiary of the Company. Subject to Shareholders' approval,
the agreement with CVM will be varied to provide for a salary of
GBP18,000 p.a. and such amount as reduces the net assets of CVM to below
GBP10,000, subject to its working capital requirements for the following
period of 12 months.
If the resolutions are passed at the General Meeting, this will result
in the cancellation of the listing of the Company's Shares on the
Official List, which is expected to take place on 27 November 2020, and
the Shares ceasing to trade on the London Stock Exchange.
Expected Timetable
Notice of General Meeting 30 October 2020
Deadline for receipt of Proxy Forms 4 p.m. on 24 November
2020
Suspension of the listing of the Shares on the Official 7.30 a.m. on 26
List November 2020
General Meeting 4 p.m. on 26 November
2020
Expected date of cancellation of the listing of the 8.00 a.m. on 27
Shares on the Official List November 2020
Documents
A copy of the circular has been submitted to the National Storage
Mechanism and will shortly be available for inspection at
https://www.globenewswire.com/Tracker?data=_UAg1BFoGNoP9cOrxLR7CQ3DQudHskrB8OThj5YEJvi5aZSnGpxhz3IWbbC3MTVYc0pujYwqsvz4ZLIRCqSXzoBulixtO1Ym96eKQiKgwPSM2kDw-swkHZw8OhPnKo79FVxkNN2PoA1MyAQuI4groIASzVqG7I0SrB29stQEluoFPhUJhwthW0aQ-Q1A_r28
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries
Grant Whitehouse Company Secretary 0207 416 7780
(END) Dow Jones Newswires
October 30, 2020 13:27 ET (17:27 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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