Edge Performance VCT PLC Tender Offer (9437V)
18 Janeiro 2013 - 4:07PM
UK Regulatory
TIDMEDGC
RNS Number : 9437V
Edge Performance VCT PLC
18 January 2013
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN WHOLE OR IN PART
IN OR INTO THE UNITED STATES, CANADA, AUSTRALIA, JAPAN, NEW ZEALAND
OR south africa OR any jurisdiction in which the same could be
unlawful. the information contained herein does not constitute an
offer of securities for sale in any jurisdiction, including in the
united states, CANADA, australia, japan, NEW ZEALAND OR south
africa.
18 January 2013
Edge Performance VCT plc (the "Company")
Publication of a Tender Offer Document
The Company has today published a tender offer document (the
"Tender Offer Document") in relation to the Company's proposals for
an enhanced share buy-back, under which holders of C shares ("C
Shares") in the Company may apply to sell their C Shares back to
the Company, on the condition that the proceeds of that sale are
applied in subscribing for new C Shares in the Company (the
"Enhanced Share Buy-back"). The Tender Offer Document sets out the
terms of the Enhanced Share Buy-back.
Under the terms of the Enhanced Share Buy-back, the price at
which existing C Shares will be repurchased by the Company will be
100% of the most recently published net asset value per C Share
prior to the relevant closing date of the Enhanced Share Buy-back
(rounded down to the nearest 0.01p), and the issue price of the new
C Shares will be 103% of that net asset value (rounded up to the
nearest 0.01p). That 3% differential will be paid by the Company to
Edge Investment Management Limited, the Company's investment
manager (the "Investment Manager"), as a fee in consideration for
the Investment Manager agreeing to meet the initial costs and
expenses of the Enhanced Share Buy-back.
As at 30 November 2012, the (unaudited) net asset value per C
Share was 74.31p. The Company paid a dividend of 40p per C Share on
14 December 2012; consequently, the (unaudited) net asset value per
C Share as at today's date is 34.31p.
The Enhanced Share Buy-back is available to holders of C Shares
whose names are entered on the Company's register of members as at
the record date, other than those shareholders who are citizens of,
or resident in, any jurisdiction outside the United Kingdom where
sending the Tender Offer Document, or issuing new C Shares, would
violate the laws of that jurisdiction.
The record date in respect of applications where new C Shares
are to be issued during the 2012/13 tax year is 28 March 2013. The
record date in respect of applications where new C Shares are to be
issued during the 2013/14 tax year is 19 April 2013.
The Enhanced Share Buy-back opens for applications at 9am on 19
January 2013. The closing dates for applications are:
-- (in respect of applications where the new C Shares are to be
issued in the 2012/13 tax year) 12 noon on 3 April 2013; and
-- (in respect of applications where the new C Shares are to be
issued in the 2013/14 tax year) 12 noon on 26 April 2013.
The directors of the Company may bring forward or extend either
of the closing dates.
The Enhanced Share Buy-back is subject to the approval of
shareholders of the Company, which will be sought at a general
meeting of the Company, and at a separate class meeting of holders
of C Shares. Those meetings are expected to be held in late
February 2013, and a separate circular, including notice of those
meetings, will be sent to shareholders shortly.
The Tender Offer Document has been approved by the UK Listing
Authority and will be available shortly on the National Storage
Mechanism of the UK Listing Authority at
http://www.hemscott.com/nsm.do. A copy of the Tender Offer Document
can be obtained, free of charge, by request from the Company at 1
Marylebone High Street, London, W1U 4LZ, or may be downloaded from
the Company's website at www.edge.uk.com/edgeperformancevct
For further information please contact:
The City Partnership (UK) Limited, Company Secretary: 0131 243
7210
Edge Investment Management Limited, Investment Manager: 020 7317
1300
Notes
This announcement is for information purposes only and does not
purport to be full or complete and any decision regarding the
Enhanced Share Buy-back should be made only on the basis of the
Tender Offer Document.
This announcement does not constitute or form part of any offer
to issue or sell, or any solicitation of any offer to subscribe or
purchase, any investment in any jurisdiction, nor shall it (or the
fact of its distribution) form the basis of, or be relied on in
connection with, any contract therefore.
The issue and the distribution of this announcement and the
Tender Offer Document in certain jurisdictions may be restricted by
law and persons into whose possession any document or other
information referred to this announcement, the Tender Offer
Document comes should inform themselves about and observe any such
restriction. Any failure to comply with these restrictions may
constitute a violation of the securities laws of any such
jurisdiction.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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