EGM Statement - Merger Update
16 Janvier 2008 - 3:52PM
UK Regulatory
EGM Statement - Merger Update
The Ethical AIM VCT plc
EGM Results and Implementation of the Scheme
16 January 2008
The board of directors of The Ethical AIM VCT plc ('Ethical' or the
'Company') is pleased to announce that all the resolutions proposed
at an Extraordinary General Meeting of the Company held today were
duly passed. Accordingly, by way of implementation of the Scheme for
the reconstruction of the Company (the 'Scheme'), the assets and
liabilities of the Company will be transferred to Pennine Downing AIM
VCT 2 plc ('PDA2) and PDA2 will issue the consideration shares. The
total number of consideration shares to be issued to the Company's
shareholders is 6,361,530, equal to 0.633 PDA 2 shares for each
Ethical share
Application will shortly be made by PDA2 for the consideration shares
to be admitted to the Official List and to trading on the main market
of the London Stock Exchange. It is expected that admission will
become effective and that trading will commence on 23 January 2008.
It is anticipated that share certificates in respect of the PDA2
consideration shares will be despatched, or the relevant CREST
accounts credited, on 23 January 2008.
As part of the Scheme, the cancellation of the listing of the
Company's shares will take place on the commencement of trading on
Thursday 17 January 2008.
The conditional special interim dividend of 10 pence per share
announced on 28 November 2007 has today become unconditional, and is
expected to be paid on 23 January 2008, to shareholders on the
register of members of the Company as at 11 January 2008.
Details of the proxy votes in respect of the resolutions passed at
the Extraordinary General Meeting received as at 11.15 am on 14
January 2008, by Downing Management Services Limited are set out
below:
For Discretionary Against Withheld
Resolution No. of No. of Votes No. of No. of Total
No. Votes Votes Votes Votes
% of votes % of votes % of % of votes
votes
1 1,708,500 33,500 5,000 35,000 1,782,000
97.8% 1.9% 0.3% 100.0%
2 1,708,500 33,500 5,000 35,000 1,782,000
97.8% 1.9% 0.3% 100.0%
3 1,703,500 33,500 5,000 40,000 1,782,000
97.8% 1.9% 0.3% 100.0%
A copies of the resolutions passed will be submitted to the UK
Listing Authority and will shortly be available for inspection at the
UK Listing Authority's Document Viewing Facility, which is situated
at:
Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Telephone: 020 7066 1000
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