Proven Health VCT Plc : Result of Meeting


 
TIDMNHF 
 
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WHICH  THE SAME  COULD BE  UNLAWFUL. THE  INFORMATION CONTAINED  HEREIN DOES NOT 
CONSTITUTE AN OFFER OF SECURITIES FOR SALE IN ANY JURISDICTION, INCLUDING IN THE 
UNITED STATES, CANADA, AUSTRALIA, JAPAN OR SOUTH AFRICA. 
 
 
 
PROVEN HEALTH VCT PLC 
 
12 MARCH 2012 
 
Results of General Meeting 
 
The  Board  of  ProVen  Health  VCT  plc  (the "Company") refers to the Circular 
published by the Company on 10 February 2012 in relation to the participation of 
the  Company in the recommended proposals  for the reconstruction and winding up 
of  Longbow Growth and Income  VCT plc, an Enhanced  Share Buyback, an Offer for 
Subscription,  the proposed change of its investment policy and the cancellation 
of its share premium account. 
 
Following  LGIV Shareholders voting in favour of the resolutions proposed at the 
LGIV  First General Meeting  of the holder  of LGIV Shares  on 7 March 2012, the 
Board of the Company is pleased to announce that all of the resolutions proposed 
at  the  General  Meeting  of  the  Company  this morning in connection with the 
Proposals were both duly passed. 
 
All  five Resolutions were passed on a  show of hands.  Resolutions 1 and 4 were 
passed as ordinary resolutions and resolutions 2, 3 and 5 were passed as special 
resolutions.  The results of the proxy votes on the Resolutions were as follows: 
 
Resolution  1 (to grant the directors authority  to allot New Ordinary Shares in 
connection with the LGIV Scheme) 
 
Votes for*:                2,077,567 Ordinary Shares 
 
Votes against:                51,213 Ordinary Shares 
 
Votes withheld**:            4,776 Ordinary Shares 
 
Resolution  2 (authority to allot  New Ordinary Shares  pursuant to the Enhanced 
Share  Buyback and the Offer for  Subscription and disapplication of pre-emption 
rights) 
 
Votes for*:                2,034,930 Ordinary Shares 
 
Votes against:                82,206 Ordinary Shares 
 
Votes withheld**:          16,420 Ordinary Shares 
 
Resolution 3 (authority to make market purchases in connection with the Enhanced 
Share Buyback) 
 
Votes for*:                2,059,859 Ordinary Shares 
 
Votes against:                73,697 Ordinary Shares 
 
Votes withheld**:                Nil Ordinary Shares 
 
Resolution 4  (change to investment policy) 
 
Votes for*:                2,105,344 Ordinary Shares 
 
Votes against:                28,212 Ordinary Shares 
 
Votes withheld**:                Nil Ordinary Shares 
 
Resolution 5 (cancellation of the share premium account) 
 
Votes for*:                2,065,345 Ordinary Shares 
 
Votes against:                38,918 Ordinary Shares 
 
Votes withheld**:          29,293 Ordinary Shares 
 
 
 
*   the "Votes for" include those votes giving the Chairman discretion. 
 
**     A  "Vote  withheld"  is  not  a  vote  in  law  and is not counted in the 
calculation of the votes for or against the resolution. 
 
A  copy of the Resolutions has been  submitted to the National Storage Mechanism 
and will shortly be available for inspection at http://www.hemscott.com/nsm.do. 
 
Expected timetable 
 
It  should be noted  that the Proposals  remain conditional upon  inter alia the 
approval  of LGIV Shareholders at the LGIV  Second General Meeting to be held at 
10.00 a.m. on 16 March 2012. 
 
 
 
The  expected timetable in relation to the implementation of the Proposals is as 
follows: 
 
                                                                            2012 
 
Calculation Date                                   close of business on 13 March 
 
LGIV Second General Meeting                               10.00 a.m. on 16 March 
 
Effective Date of the LGIV Scheme                                       16 March 
 
Admission   and   dealings  commence  in  the  New         8.00 a.m. on 19 March 
Ordinary Shares issued pursuant to the LGIV Scheme 
 
CREST  accounts credited with  New Ordinary Shares         8.00 a.m. on 19 March 
issued pursuant to the LGIV Scheme 
 
Share  and tax certificates  despatched in respect      Week commencing  9 April 
of New Ordinary Shares issued pursuant to the LGIV 
Scheme 
 
 
 
Notes: 
 
1.          The dates set out in the expected timetable above may be adjusted by 
the  Company, in which event details of the new dates will be notified to the UK 
Listing Authority and the London Stock Exchange and an announcement will be made 
through  a  regulatory  information  service  that  is on the list of regulatory 
information services maintained by the Financial Services Authority. 
 
2   All references to time in this announcement are to London time. 
 
Definitions 
 
Terms  defined in the circular published by the Company on 10 February 2012 have 
the same meanings in this announcement unless the context requires otherwise. 
 
Further information 
 
For further information please contact: 
 
Steven Tuckley        Beringea LLP                020 7845 7820 
 
Douglas Armstrong   Dickson Minto W.S.   020 7649 6823 
 
Notes 
 
This  announcement does  not constitute  or form  part of  any offer to issue or 
sell,  or any solicitation of any offer to subscribe or purchase, any investment 
in  any jurisdiction, nor  shall it (or  the fact of  its distribution) form the 
basis of, or be relied on in connection with, any contract therefor. 
 
The  issue and the distribution of this announcement and the Circular in certain 
jurisdictions  may be  restricted by  law and  persons into whose possession any 
document  or other information referred to this announcement, the Circular comes 
should inform themselves about and observe any such restriction.  Any failure to 
comply with these restrictions may constitute a violation of the securities laws 
of any such jurisdiction. 
 
 
 
 
 
 
 
 
 
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: Proven Health VCT Plc via Thomson Reuters ONE 
 
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