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Maven Income And Growth VCT 4 PLC And Ortus VCT PLC Updates On Merger

Monday, 4 Mar 2013 02:00am EST 

Maven Income And Growth VCT 4 PLC and Ortus VCT PLC announced that on October 31, 2012 that they has entered into discussion to merge the Companies (both of which are managed by Maven Capital Partners UK LLP (Maven)) and further announced on February 13, 2013 that terms of the merger had been agreed in principle. The MIG 4 board also announced the intention to consolidate the MIG 4 ordinary share and S share classes into one class of share prior to the proposed merger and raise further funds pursuant to an offer for subscription of MIG 4 ordinary shares. Both boards also advise that on March 04, 2013 they are writing to set out the proposals to their respective shareholders for consideration. The proposals will, if effected and assuming the offer is fully subscribed, result in an enlarged MIG 4 (Enlarged Company) with net assets of over GBP30 million. The two existing share classes in MIG 4 have, to date, been managed as separate pools. In light of the proposed merger of the Companies, the MIG 4 board believes that a consolidation of the two share class pools prior to the merger of the Companies taking effect would be in the interests of all shareholders. The share consolidation will, if approved, see the MIG 4 S shares pool being merged into the MIG 4 ordinary shares pool on a relative net asset value basis. The MIG 4 board has also decided to take the opportunity to raise up to GBP5 million through an offer for subscription of up to 6 million new MIG 4 ordinary shares. 

Latest Developments for Maven Income and Growth VCT 4 PLC

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23 Dec 2014