Edge Performance VCT PLC Postponement of Dividend (1258F)
17 Abril 2014 - 12:40PM
UK Regulatory
TIDMEDGC
RNS Number : 1258F
Edge Performance VCT PLC
17 April 2014
17 April 2014
Edge Performance VCT plc (the "Company")
Postponement of Dividend
On 4 November 2013, the Company announced that an interim
dividend pf 3.5p per H Share would be paid on 2 May 2014 to all
holders of H Shares who are on the Company's register of members as
at 22 April 2014 (the "Dividend").
On 27 March 2014, the Government published the Finance Bill
2014. The Finance Bill contains proposed changes to VCT rules which
apply to VCT shares issued on or after 6 April 2014. The Company's
professional advisers are of the opinion that those provisions of
the Finance Bill are ambiguous, and could be interpreted as
preventing the Company from paying the Dividend, in whole or in
part, in respect of H Shares issued on or after 6 April 2014.
The directors of the Company (the "Directors") have been advised
that amendments to the relevant provisions in the Finance Bill are
to be introduced, in order to remove this ambiguity; however, those
amendments have not yet been published, and will in any event be
subject to the usual process of Parliamentary review and
debate.
On advice, and in the interest of all of the Company's
shareholders, therefore, the Directors have decided to postpone the
record date and the payment date for the Dividend until such time
as the Directors believe that there is certainty whether the
Dividend can be paid in respect of H Shares issued in the 2014/15
tax year, without contravening the new rules. Revised record and
payment dates for the Dividend will be announced by the Company as
soon as practicable thereafter.
For further information, please contact:
Edge Investment Management Limited, Investment Manager: 020 7317
1300
The City Partnership (UK) Limited, Company Secretary: 0131 243
7210
This information is provided by RNS
The company news service from the London Stock Exchange
END
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