RSB Rensburg Aim

TIDMRSB

RNS Number : 2951G

Rensburg AIM VCT Plc

03 March 2015

RENSBURG AIM VCT PLC

Proposed voluntary winding up and Special Dividend

2 March 2015

The Board of Rensburg Aim VCT plc ("the Company") has now concluded its review of the business following the shareholder consultation conducted last year. In that survey the largest proportion of shareholders expressed the view that the Company should continue the strategy of maximising returns from existing investments, whilst being open to suitable new investment opportunities, until such time as the size of the portfolio made the strategy no longer viable. Following a number of successful realisations, the Board has decided that the point has been reached where the interests of shareholders are best served by recommending a voluntary winding up of the Company, and the return of funds to shareholders once the Company's investments have been realised.

The Board therefore intends to convene a general meeting of the Company, at which resolutions will be proposed to place the Company into a members' voluntary liquidation. Further information will be set out in a circular which is expected to be sent to shareholders by 20 June 2015.

If these resolutions are passed, a liquidator will be appointed and the Company will apply to the Financial Conduct Authority to have the listing of its shares on the Official List cancelled. At the same time, the Company will notify HMRC that it is entering into members' voluntary liquidation. Under the Venture Capital Trust ("VCT") rules, a liquidation period of up to three years is allowed where the Company will still be treated as a VCT, but the qualifying conditions applicable to VCTs can be disregarded. During this period, the Company can realise its assets in an orderly manner without the requirement to make further investments.

The winding up of the Company could have tax consequences for some shareholders and the Board advises any shareholder who is in doubt as to those consequences to seek advice from a qualified independent financial adviser or tax specialist, particularly if Capital Gains Tax deferral relief was utilised at the time of investment.

In recognition of cash generated by recent realisations, the Company now proposes to pay a special dividend of 2.00 pence per share on 31 March 2015 to shareholders on the register at the close of business on 13 March 2015.

Enquiries to:

Barry Anysz

0113 245 4488

Rensburg Aim VCT plc

Quayside House

Canal Wharf

Leeds

LS11 5PU

This information is provided by RNS

The company news service from the London Stock Exchange

END

MSCEAKDAEAKSEFF

Rensburg Aim Vct (LSE:RSB)
Graphique Historique de l'Action
De Mai 2024 à Juin 2024

Rensburg Aim Vct (LSE:RSB)
Graphique Historique de l'Action
De Juin 2023 à Juin 2024