Results of General Meeting and Merger Update
The Board of
The general meeting of the Company held today was in connection with the merger of the Company with Oxford Technology 2 VCT plc ("OT2") by way of a scheme of reconstruction of the Company pursuant to Section 110 of the Insolvency Act 1986, whereby the Company will now be placed into members' voluntary liquidation and all of its assets and liabilities will be transferred by the appointed liquidators to OT2. Full details were contained in the Company's circular to shareholders ("Circular") dated
A copy of the resolution passed at the above meeting will shortly be available for inspection on both the Company's website (www.oxfordtechnologyvct.com), as well as at the National Storage Mechanism (https://data.fca.org.uk/#/nsm/nationalstoragemechanism).
Accordingly, by way of implementation of the Scheme, the Company has been placed into members' voluntary liquidation and the assets and liabilities of the Company transferred to OT2 in consideration for the issue of new ordinary shares of 1p each in the new OT4 Share pool of OT2 ("OT4 Consideration Shares"). The total number of OT4 Consideration Shares issued to the Company's shareholders was 10,826,748. This figure is 5,000 less than the current total number of OT4 shares in issue, as one shareholder exercised his right to dissent.
Application will shortly be made for all the OT4 Consideration Shares issued to be admitted to the Official List and to trading on the main market of the
As part of the Scheme, the suspension of the listing of the Company's own shares took place at
Full details of the voting were as follows:
Proxy votes were received in respect of 3,803,012 Ordinary Shares, representing 35.1% of the issued share capital as at
The following table shows the proxy votes cast for the resolution:
For | Against | %age of Issued share capital | Abstain | |||
Votes | % | Votes | % | voted | ||
SPECIAL RESOLUTION | ||||||
1 To approve the Company being wound up voluntarily, the appointment of of the Company's listing of shares on the Official List | 3,716,609 | 97.7% | 86,403 | 2.3% | 35.1% | 0 |
The full text of the resolution passed at the Second General Meeting can be found in the OT4 Circular which is available on the Company's website at https://www.oxfordtechnologyvct.com/.
1. A withheld vote is not a vote in law and, accordingly, is not counted in the calculation of the proportion of votes "For" and "Against" the resolution concerned.
2. Any proxy appointments which gave discretion to the Chairman have been included in the vote "For" total.
3. The number of shares in issue (and total voting rights) at close of business on
This announcement contains inside information as stipulated under the
Enquiries: Lucius Cary Oxford Technology Management 01865 784466
LEI: 213800O9M2EQZD452H80
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