Foresight 3 VCT PLC
General Meeting and Merger Result
22 June 2017
The board of Foresight 3 VCT plc ("the Company") is pleased to announce the results of the general meeting of the Company held today in connection with the merger of the Company with Foresight 4 VCT plc ("F4") by way of a scheme of reconstruction of the Company pursuant to Section 110 of the Insolvency Act 1986 whereby the Company will be placed in members' voluntary liquidation and all of its assets and liabilities transferred by the appointed liquidators to F4, details of which were contained in the Company's circular to shareholders ("Circular") dated 19 May 2017.
At the general meeting of the Company, the resolution to approve the Company being placed in liquidation, appoint the liquidators and cancel the listing of the Company's shares, as set out in the Circular, was duly passed on a show of hands and with 98.77% of proxy votes received being in favour (or at the chairman's discretion).
A copy of the resolution passed at the above meeting will shortly be available for inspection on both the Company's website (www.foresightgroup.eu), as well as at the National Storage Mechanism (www.morningstar.co.uk/uk/NSM).
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 F4 in consideration for the issue of new F4 ordinary shares of 1p each in the capital of F4 ( "F4 Consideration Shares"). The total number of F4 Consideration Shares issued to the Company's shareholders was 48,337,332, at a deemed issue price of 72.91p per share (on a ratio of 0.8776 F4 Consideration Shares for each ordinary share in the Company).
Application will shortly be made for all the F4 Consideration Shares issued to be admitted to the Official List and to trading on the main market of the London Stock Exchange. It is expected that admission will become effective and that trading will commence on 23 June 2017. CREST accounts are also expected to be credited on 23 June 2017.
As part of the Scheme, the suspension of the listing of the Company's shares took place at 7.30 a.m. today (22 June 2017) and the cancellation of the Company's shares will take place from the commencement of trading on 20 July 2017.
For further enquiries please contact:
Gary Fraser, Foresight Group: 0203 667 8100