FORESIGHT VENTURES VCT PLC
LEI: 213800R88MRC4Y3OIW86
MERGER RESULTS
Introduction
On
Merger Results
The Company is pleased to confirm that all conditions to the Merger have now been satisfied and the Merger has been implemented.
Accordingly, TV2 has been placed into members' voluntary liquidation and new ordinary shares of 1p each in the capital of the Company (the “Consideration Shares”) have been issued, subject only to Admission, in consideration for the transfer of the assets and liabilities of TV2 to the Company based on the relative NAVs of the Company and TV2 as at
| Share Class of the Company | Number of Consideration Shares to be issued | Merger ratio |
| Ventures Shares | 52,389,091 | 0.984075562836560 |
| Healthcare Shares | 20,464,086 | 0.868781993057500 |
| AIM Shares | 6,592,726 | 2.445551844849200 |
| DP67 Shares | 7,191,261 | 0.642528021460783 |
Applications have been made for all the Consideration Shares issued to be admitted to the Official List and to trading on the main market of the
Following this allotment but prior to the share Redesignation (described below), the issued share capital of the Company was 257,154,457 ordinary shares and the total number of shares with voting rights in the Company is 257,154,457. The Company does not hold any shares in treasury.
Notwithstanding that this will only be for a short period due to the Redesignation described below, the above figure (257,154,457) can be used by shareholders as the denominator for the calculations by which to determine if they are required to notify their interest in, or a change to, their interest in the Company under the
Pursuant to the Merger, Dr
The unaudited NAV per ordinary share as at
Share Redesignation
Following the allotment of the Consideration Shares mentioned above, the Company will redesignate 147,531,473 of its issued ordinary shares as deferred shares, which will be immediately repurchased and cancelled, on the basis described in the Circular, in order to re-base the NAV per share of each of ordinary share to £1.00 (the "Redesignation").
The ratio applied in the Redesignation is 0.426292374158617 remaining ordinary shares for every share held prior to the Redesignation and the remaining ordinary shares in the capital of the Company will be subject to a new ISIN number GB00BRBQ0C76. It is expected that admission of the revised ordinary shares post-Redesignation will become effective and that trading will commence on
Following the Redesignation, the issued share capital of the Company will be 109,622,984 ordinary shares and the total number of shares with voting rights in the Company will be 109,622,984. The Company does not hold any shares in treasury.
The above figure (109,622,984) can subsequently be used by shareholders as the denominator for the calculations by which to determine if they are required to notify their interest in, or a change to, their interest in the Company under the
The unaudited NAV per ordinary share as following the Redesignation will be 100p.
END
For further information, please contact:
Company Secretary
Contact:
Investor Relations
Contact:
