Foresight 4 VCT PLC : Merger Results


Foresight 4 VCT plc

Merger Results

22 June 2017

This announcement is made by Foresight 4 VCT plc ("the Company") in connection with the merger of the Company with Foresight 3 VCT plc (in liquidation) ("F3"), by way of a scheme of reconstruction of F3 pursuant to Section 110 of the Insolvency Act 1986 and the transfer by F3 of all of their assets and liabilities to the Company ("Scheme"), details of which were contained in the Company's prospectus and circular to shareholders both dated 19 May 2017.

The board is pleased to advise that the resolution proposed at the general meeting of F3 held today was duly passed to be able to implement and effect the Scheme. 

By way of implementation of the Scheme, the assets and liabilities of F3 have been transferred to the Company in consideration for the issue of new ordinary shares of 1p each in the capital of the Company ("Consideration Shares"). The total number of Consideration Shares issued to F3 shareholders in connection with the Scheme was 48,337,332 at a deemed issue price of 72.91p per share.

Following implementation of the Scheme, the capital of the Company as at 22 June 2017 consists of 105,712,831 shares of which none are held in treasury. The total number of voting rights in the Company is, therefore, 105,712,831 which may be used by shareholders as the denominator for the calculations by which they will determine if they are required to notify their interest in, or a change to their interest in, the Company under the FCA's Disclosure, Guidance and Transparency Rules.

Application will shortly be made for all the Consideration Shares issued pursuant to the Scheme 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 June 2017. CREST accounts are also expected to be credited on 23 June 2017.

As a result of the merger becoming effective, Raymond Abbott has today been appointed as director and chairman of the Company and Peter Dicks has stepped down as a director of the Company.

For further enquiries please contact:

Gary Fraser, Foresight Group: 0203 667 8100