Hazel Renewable Energy VCT 1 plc : Withdrawal o...

Hazel Renewable Energy VCT1 plc
Hazel Renewable Energy VCT2 plc
11 March 2016
Withdrawal of Offer for Subscription

The Boards of Hazel Renewable Energy VCT1 plc and Hazel Renewable Energy VCT2 plc (together the "Companies") announce that they have decided to withdraw the joint B Share Offer for Subscription which launched on 18 February 2016 ("B Share Offer"). This decision has been made in consultation with Hazel Capital LLP, the promoter. 

While there has been significant interest in the B Share Offer, there has been resistance to this offer amongst existing Shareholders.  These Shareholders are concerned that the B Share Offer might impact their existing investment in a number of ways including, for example, the VCTs' ability to wind up at some stage in the future.  For this reason, the Companies are respectfully honouring the wishes of existing shareholders and withdrawing the B Share Offer from the market.

The General and Class meetings scheduled for both Companies on Monday 14 March 2016 have therefore all been cancelled.

The receiving agent will endeavour to return funds to investors that have submitted applications within the next three working days.

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This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf of NASDAQ OMX Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Hazel Renewable Energy VCT 1 plc via Globenewswire

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