Downing Income VCT 4 plc Downing Income VCT 4 plc : Share Realisation and Reinvestment Programme and Top Up Offer


 
TIDMDI40 
 
Downing Income VCT 4 plc (the "Company") 
18 December 2012 
Share Realisation and Reinvestment Programme and Top Up Offer 
 
The directors of the Company are pleased to announce that they have published an 
offer  document (the "Offer Document") and  a circular (the "Circular") covering 
proposals to offer the Company's shareholders who are not resident in any of the 
Restricted  Jurisdictions  (as  such  terms  is  defined  in the Offer Document) 
("Existing  Shareholders") the opportunity to participate in a share realisation 
and  reinvestment programme ("SRRP"). The Offer  Document also proposes to offer 
all of the Company's shareholders (the "Shareholders") and members of the public 
the  opportunity to subscribe for up to 2,000,000 ordinary shares in the capital 
of the Company (the "Top Up Offer"). 
 
Details  of the SRRP and Top Up Offer are included in the Circular which will be 
posted  to the Company's Shareholders shortly.   The terms and conditions of the 
SRRP  and Top Up Offer together  with information regarding the risks associated 
with  participating in the SRRP  and/or Top Up Offer  are contained in the Offer 
Document. 
 
The  SRRP, if  approved by  the Shareholders,  will give  participating Existing 
Shareholders the opportunity to sell their shares back to the Company at a price 
equal  to 100% of  the most  recently published  net asset  value of  the shares 
(rounded  down to the nearest 0.1p per share)  and to then reinvest the proceeds 
from  the  sale  in  a  new  issue  of  ordinary  shares  at  a  price  equal to 
approximately  103% of the net  asset value of  the shares (rounded  down to the 
nearest  0.0001p per share) (the "Substitution  Shares"), with the premium being 
charged  to cover administrative costs.  Participating Existing Shareholders are 
then, subject to their personal circumstances, able to obtain additional VCT tax 
relief  of up to 30% of the amount  subscribed for Substitution Shares. The SRRP 
is  subject to an overall limit equal  to 48.5% of the issued ordinary shares of 
the Company. 
 
The Top Up Offer is open to Shareholders and members of the public who may apply 
for  up to 2,000,000 additional  ordinary shares in  the Company pursuant to the 
Top Up Offer. 
 
The  SRRP and  the Top  Up Offer  will close  at 3.00 p.m. on 21 February 2013, 
although this date may be extended by the Company's directors. 
 
The  SRRP and the Top Up Offer  are subject to Shareholder approval. The general 
meeting  of the Company's Shareholders has  been convened for 7 February 2013 at 
10 Lower  Grosvenor  Place,  London  SW1W  0EN. The  notice of the meeting and a 
detailed  explanation of the  resolutions to be  proposed at the general meeting 
are set out in the Circular. 
 
Copies of the Circular and Offer Document are available at www.downing.co.uk. 
 
The  Circular will shortly  be available for  inspection at the National Storage 
Mechanism which can be accessed at http://www.morningstar.co.uk/uk/nsm 
 
Any enquiries in relation to the SRRP or the Top Up Offer should be made to: 
 
Grant Whitehouse 
Downing LLP 
Telephone: 020 7416 7780 
 
Please  note that Downing LLP  is not able to  provide investment or tax advice. 
Shareholders  are advised to consult an independent financial adviser for advice 
in relation to the SRRP or Top Up Offer. 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Downing Income VCT 4 plc via Thomson Reuters ONE 
[HUG#1665928]

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