Issue of Equity

RNS Number : 2303D

Bluehone AIM VCT2 PLC

27 November 2009

 



To:         RNS

From:     Bluehone AiM VCT2 plc

Date:      27 November 2009

Conversion and redesignation of shares

The Board of Bluehone AiM VCT 2 plc ("the Company") announces that, as originally provided for at the time of the launch of the C Shares, the C Shares in the capital of the Company have now converted to Ordinary Shares in the capital of the Company as of Friday 27 November 2009.

The conversion and redesignation was completed, in accordance with the articles of association of the Company, by redesignating the C Shares into Ordinary Shares and Deferred Shares using a "Conversion Ratio" of 1.29896813 Ordinary Shares for each C Share; this being the net asset value of a C Share (54.54 pence) divided by the net asset value of an Ordinary Share (41.99 pence), in each case as at close of business on 23 November 2009.

Each C Share of 50 pence was split into 5 C Shares of 10 pence each (in order to match the nominal value of the Ordinary Shares), and the number of C Shares of 10 pence each redesignated as Ordinary Shares was such number of C Shares of 50 pence each in issue on the Calculation Date multiplied by the Conversion Ratio, with the balance of C Shares of 10 pence being redesignated as Deferred Shares. 

On this basis, 2,950,085 C Shares of 50 pence each have been redesignated as 3,832,066  Ordinary Shares of 10 pence each (allocated pro-rata, rounded down, to the holders of C Shares) with the balance of holdings being redesignated as, in aggregate, 10,918,359 Deferred Shares of 10 pence each .

All of the deferred shares were repurchased by the Company for a nominal sum in accordance with the articles of association and cancelled.

Following this conversion and redesignation there are, in aggregate, 59,226,066 Ordinary Shares in issue. 

For further information please contact:

Scott Macrae, F&C Management Limited: 0131 718 1073

 

END

 

 

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