AAV Artemis Aim Vct

 

TIDMAAM TIDMAAV 
 
RNS Number : 4219M 
Artemis AiM VCT 2 PLC 
28 January 2009 
 
JOINT ANNOUNCEMENT 
 
 
 
 
ARTEMIS AIM VCT PLC ("VCT 1") AND ARTEMIS AIM VCT 2 PLC ("VCT 2") 
 
 
Possible Merger pursuant to a s.110 scheme of reconstruction under the 
Insolvency Act 1986 
 
 
The boards of VCT 1 and VCT 2 (which are both managed by Artemis Investment 
Management Limited), are pleased to announce that they have reached agreement in 
principle on terms to merge the companies, subject to approval by shareholders 
of both companies, to achieve cost savings for the benefit of all shareholders. 
 
 
The intention is that this proposed merger will be completed pursuant to a s.110 
scheme of reconstruction under the Insolvency Act 1986 by transferring the 
assets and liabilities of VCT 1 to VCT 2 in consideration for new VCT 2 shares 
to be issued to VCT 1 shareholders on a relative net asset value basis. A merger 
on this basis will be outside the provisions of The City Code on Takeovers and 
Mergers. 
 
 
Formal proposals will be forwarded to shareholders of both VCT 1 and VCT 2 
shortly. 
 
 
Enquiries: 
 
 Billy Aitken 
 
 
Artemis Investment Management Limited 
Tel: 0131 225 7300 
 
 
28 January 2009 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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