Edge Performance VCT PLC Conversion of I Shares & H Share Future Plans (4190V)
13 Diciembre 2021 - 2:32AM
UK Regulatory
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RNS Number : 4190V
Edge Performance VCT PLC
13 December 2021
Edge Performance VCT plc (the "Company")
Conversion of I Shares & H Share Future Plans
Conversion of I shares
As substantially all of the remaining net asset value
attributable to the Company's I share class has now been paid to I
shareholders as a dividend, the board of directors of the Company
("Board") has resolved to simplify the Company's capital structure,
by invoking the share conversion provisions in the Company's
articles of association.
Consequently, all I shares will be converted to a mix of H
shares and deferred shares. The calculation of that conversion will
be by reference to the respective net asset values attributable to
the H share and I share classes as at 6 December 2021, and will be
applied to all holdings of I shares as reflected in the Company's
register of members as at close of business on 6 December 2021.
Conversion will take place on 16 December 2021.
The Board has further resolved that the Company will repurchase
all deferred shares arising out of the conversion, such repurchase
to take place immediately upon conversion.
The Company will notify each I shareholder individually of their
revised shareholding in the Company as a result of the
conversion.
This will complete the process of the orderly closure of the I
share fund which the Board was mandated to achieve at the last
annual general meeting of the Company.
H Share future plans
The Board plans to continue with a capital reduction process
which will, following the approval of the Company's shareholders
and the High Court in London, provide sufficient distributable
reserves to enable the payment of a substantial dividend in the
first half of 2022 as well as reactivating the Company's share buy
back programme for H shareholders.
For further information, please contact:
Edge Investments Limited, investment manager: info@edge.vc
The City Partnership (UK) Limited, company secretary:
enquiries@city.uk.com
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END
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(END) Dow Jones Newswires
December 13, 2021 03:32 ET (08:32 GMT)
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