Welcome
Gateway VCT was a generalist VCT, which from March 2008 was managed by the Growth Capital team at Aberdeen Asset Management PLC that was to go on to form Maven Capital Partners in June 2009. Gateway VCT originally had a remit to build a portfolio of early and later stage technology and technology related businesses, including life science companies. Maven adopted a new approach of, subject to available liquidity, investing the Company alongside its other VCTs in most of its deals, prior to the merger with Ortus VCT in September 2009. General Meeting Results and Merger Update 4 September 2009 This announcement is made by Gateway VCT PLC (“the Company”) in connection with the scheme of reconstruction for the merger of Guinness Flight Venture Capital Trust PLC (“Guinness Flight VCT”) with the Company (“the Scheme”), details of which were contained in the Company’s circular to shareholders dated 31 June 2009 (“the Circular”). The board of directors of the Company (“the Board”) is pleased to announce that the resolution proposed at the general meeting of the Company held today was duly passed. A copy of the resolution passed at the general meeting will be submitted to the UK Listing Authority and will shortly be available for inspection at the UK Listing Authority’s Document Viewing Facility, whose address is as set out at the bottom of this announcement. Accordingly, by way of implementation of the Scheme, the Company has been placed into members’ voluntary liquidation and the assets and liabilities of the Company transferred to Guinness Flight VCT in consideration for the issue of ordinary shares of 10 pence each in the capital of Guinness Flight VCT (“Guinness Flight VCT Shares”). The total number of Guinness Flight VCT Shares issued to the Company’s shareholders was 10,972,864, at a deemed issue price of 40.947896556p per share. Application will shortly be made for all the Guinness Flight VCT 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 7 September 2009. As part of the Scheme, the suspension of the listing of the Company’s shares took place at 7.30am today and the cancellation of the Company’s shares will take place from the commencement of trading on 7 September 2009. The UK Listing Authority’s Document Viewing Facility, is situated at: Financial Services Authority
25 The North Colonnade
Canary Wharf
London
E14 5HS
Telephone: 020 7066 1000 For further enquiries please contact: David Russell of Maven Capital Partners UK LLP
Company Secretary Telephone: 0141 306 7555 |