Merger
30 Octobre 2007 - 5:01PM
UK Regulatory
Merger
The Ethical AIM VCT plc
Merger plans
30 October 2007
The Board of The Ethical AIM VCT plc announces that it has agreed
head of terms with two other VCTs, also managed by Rathbone
Investment Management Limited, with a view to merging the three
companies together.
The proposals are for the Company to merge with Pennine Downing AIM
VCT plc and Pennine Downing AIM VCT 2 plc by way of a "Scheme of
Reconstruction" using a relative net asset basis for each company to
create one larger VCT. This should produce a significant reduction
in running costs as well as other benefits.
The proposed transaction will require Shareholder approval. Formal
documents are currently being prepared and are expected to be sent
out to Shareholders within the next few weeks.
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