Albion Dev VCT Albion Development Vct Plc Conversion Of 'd' Shares Into Ordinary Shares


 
TIDMAADD 
 
   Albion Development VCT PLC 
 
   Conversion of 'D' Shares into Ordinary Shares 
 
   Albion Development VCT PLC announces the conversion of its 'D' shares 
into Ordinary shares as follows: 
 
   In accordance with the Articles of Association, on 31 March 2015, the 
Company's 'D' shares converted to Ordinary shares on the basis of the 
net assets attributable to the Ordinary shares and the 'D' shares as 
disclosed in the audited accounts for the year to 31 December 2014. The 
conversion was made in accordance with the conversion mechanism set out 
in the Articles of Association of the Company adopted by special 
resolution passed on 28 October 2009. Each 'D' shareholder received 
0.4975 bonus shares (in total 3,178,128 bonus 'D' shares issued) to 
reflect the differential between the net asset value of the Ordinary 
shares and the 'D' shares as at 31 December 2014 and, after equalising 
the net asset values, the 'D' shares were redesignated as Ordinary 
shares. Accordingly, a former 'D' shareholder will hold 1.4975 new 
Ordinary shares for each 'D' share previously held. 
 
   Prior to the conversion on 31 March 2015, Albion Development VCT PLC's 
issued share capital consisted of 43,814,804 Ordinary shares and 
6,388,197 'D' shares, both with a nominal value of 1 penny each.  Albion 
Development VCT PLC held 4,306,700 Ordinary shares in Treasury. 
 
   Following the conversion of 9,566,325 'D' shares into Ordinary shares, 
Albion Development VCT PLC's capital consists of 53,381,129 Ordinary 
shares with a nominal value of 1 penny each.  Albion Development VCT PLC 
holds 4,306,700 Ordinary shares in Treasury. 
 
   Therefore the total number of voting rights in Albion Development VCT 
PLC is 49,074,429 which may be used by shareholders as the denominator 
for the calculations by which they will determine if they are required 
to notify their interest in, or a change to their interest in, Albion 
Development VCT PLC under the FCA's Disclosure and Transparency Rules. 
 
   The Ordinary shares rank pari passu in all respects. New Ordinary shares 
arising from the conversion representing fractional entitlements were 
not issued to 'D' shareholders but will be aggregated and sold in the 
market for the benefit of the Company.  Application has been made for 
the new Ordinary shares to be admitted to the Official List and to 
trading on the London Stock Exchange's Main Market for listed securities 
and it is expected that dealings will commence, at the earliest, on 8 
April 2015. 
 
   Following conversion of the D ordinary shares, the listing of the 'D' 
shares will be cancelled. The new Ordinary share certificates will be 
despatched to former 'D' shareholders by 30 April 2015. 
 
   31 March 2015 
 
   For further information please contact: 
 
   Company Secretary 
 
   Albion Ventures LLP 
 
   T: 0207 601 1850 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Albion Development VCT PLC - D Shares via Globenewswire 
 
   HUG#1908054 
 
 
  http://www.closeventures.co.uk

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