Merger Results

Albion Venture Capital Trust PLC ("Company")

Merger Results

25 September 2012

This announcement is made by Albion Venture Capital Trust PLC ("the Company") in connection with the merger of the Company with Albion Prime VCT PLC ("Prime")  to be completed by way of a scheme of reconstruction of Prime pursuant to Section 110 of the Insolvency Act 1986 and the transfer by Prime of all of their assets and liabilities to the Company) ("Scheme"), details of which were contained in the Company's prospectus ("the Prospectus") and circular to shareholders ("the Circular") both dated 27 July 2012.

The board is pleased to advise that the resolution proposed at the general meeting of Prime 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 Prime have been transferred to the Company in consideration for the issue of new ordinary shares of 50p each in the capital of the Company ("Shares") as set out below.

The total number of Shares issued to Prime shareholders in connection with the Scheme was 19,307,001 at a deemed issue price of 74.2638p per share. Following implementation of the Scheme there are now 56,306,806 Shares in issue in the Company.

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 26 September 2012. CREST accounts are also expected to be credited on 26 September 2012.

As a result of the merger becoming effective, Jonathan Rounce 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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The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.

Source: Albion Venture Capital Trust PLC via Thomson Reuters ONE

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