Merger Results

Albion Technology & General VCT PLC

Merger Results

15 November 2013

This announcement is made by Albion Technology & General VCT PLC ("the Company") in connection with the merger of the Company with Albion Income & Growth VCT PLC ("AAIG"), by way of a scheme of reconstruction of AAIG pursuant to Section 110 of the Insolvency Act 1986 and the transfer by AAIG 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 10 October 2013.

The board is pleased to advise that the resolution proposed at the general meeting of AAIG 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 AAIG have been transferred to the Company in consideration for the issue of new ordinary shares of 1 penny each in the capital of the Company ("Shares") as set out below.

The total number of Shares issued to AAIG shareholders in connection with the Scheme was 33,664,049 at a deemed issue price of 83.38p per share. Following implementation of the Scheme, the capital of the Company as at 15 November 2013 consists of 80,385,699 shares of which 4,341,070 shares are held in treasury.

Therefore the total number of voting rights in the Company is 76,044,629 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 and Transparency Rules.

Application will shortly be made for all the 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 18 November 2013. CREST accounts are also expected to be credited on 18 November 2013.

As a result of the merger becoming effective, Lt Gen Sir Edmund Burton has stepped down as a director of the Company.

For further enquiries please contact:

Albion Ventures LLP
Patrick Reeve/Henry Stanford
Telephone: [phone]

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(i) the releases contained herein are protected by copyright and other applicable laws; and
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information contained therein.

Source: Albion Technology & General VCT PLC - Ordinary Shares via Thomson Reuters ONE

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