Hargreave Hale AIM VCT 1 plc : Result of Tender...
4 April 2012
Results of Enhanced Share Buyback
Introduction
Hargreave Hale AIM VCT 1 plc (the "Company") gives notice that the results of the Enhanced Share Buyback (as set out in the Circular published by the Company on 29 February 2012) following the General Meeting held on 26 March 2012, at which all of the resolutions proposed were duly passed , are as follows:
Results of the Enhanced Share Buyback
Valid applications were received under the Enhanced Share Buyback in respect of 8,326,006 Ordinary Shares. Under the terms of the Enhanced Share Buyback a maximum of 9,000,000 Ordinary Shares could be repurchased by the Company and so all applications received have been accepted in full on the terms set out in the Circular.
Accordingly, 8,326,006 Ordinary Shares have been purchased by the Company with the sale proceeds used to subscribe for new Ordinary Shares, under the terms of the Enhanced Share Buyback. The most recently announced unaudited Net Asset Value per Ordinary Shares as at the Calculation Date (5.00 p.m. on 2 April 2012) was 62.01p, and accordingly the price paid for Ordinary Shares under the Enhanced Share Buyback was 62.01p per Ordinary Share. The purchase price for new Ordinary Shares was 65.27p per Ordinary Share and participating Shareholders received 969 new Ordinary Shares for every 1,000 Ordinary Shares sold under the Enhanced Share Buyback, including the 2% rebate of the amount subscribed with proceeds from the Tender Offer. A total of 8,068,056 new Ordinary Shares have been allotted and issued pursuant to the Enhanced Share Buyback.
Ordinary Shares purchased by the Company under the Enhanced Share Buyback will be cancelled. Applications will shortly be made to the UK Listing Authority and the London Stock Exchange for the 8,068,056 new Ordinary Shares to be admitted to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange's market for listed securities. It is expected that the new Ordinary Shares will be admitted to the Official List and to trading on the London Stock Exchange on or around 12 April 2012.
For further information please contact:
Stuart Brookes
Company Secretary
Hargreave Hale AIM VCT1 plc
01253 754740
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: Hargreave Hale AIM VCT 1 plc via Thomson Reuters ONE
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