OEC3 Octopus Ecl.3

 
TIDMOEC3 
 
JOINT ANNOUNCEMENT 
 
OCTOPUS ECLIPSE VCT PLC ("ECLIPSE") 
OCTOPUS ECLIPSE VCT 2 PLC ("ECLIPSE 2") 
OCTOPUS ECLIPSE VCT 3 PLC ("ECLIPSE 3") 
OCTOPUS ECLIPSE VCT 4 PLC ("ECLIPSE 4") 
 
POSSIBLE MERGER PURSUANT TO SCHEMES OF RECONSTRUCTION UNDER S.110 OF THE 
INSOLVENCY ACT 1986 
 
The Boards of Eclipse, Eclipse 2, Eclipse 3 and Eclipse 4, which are all managed 
by Octopus Investments Limited, are pleased to announce that they have reached 
agreement, in principle, on terms to merge the four companies. The merger is 
intended to achieve, amongst other things, cost savings, administrative 
efficiency and the potential for a more diverse portfolio through the creation 
of a significantly enlarged VCT to provide benefits for all shareholders. 
 
The intention is that the proposed merger will be completed by placing each of 
Eclipse 2, Eclipse 3 and Eclipse 4 into members' voluntary liquidations pursuant 
to a scheme of reconstruction under s.110 of the Insolvency Act 1986 and the 
transfer of their assets and liabilities to Eclipse in consideration for new 
Eclipse shares to be issued to Eclipse 2, Eclipse 3 and Eclipse 4 shareholders. 
A merger on this basis will be outside the provisions of The City Code on 
Takeovers and Mergers. 
 
Each scheme will require the approval of the shareholders of the relevant 
companies, will be completed on a relative net asset value basis and will not be 
conditional on the other schemes proceeding. 
 
Formal proposals, including the procedure for shareholders to vote on the 
proposals, will be provided to shareholders of all the relevant companies, at 
which point, a further announcement will be made. 
 
Enquiries: 
Celia Whitten 
Company Secretary 
020 7710 2849 
or 
Trish Standaloft 
020 7710 6471 
 
 
 
 
This announcement is distributed by Thomson Reuters on behalf of 
Thomson Reuters clients. The owner of this announcement warrants that: 
(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Octopus Eclipse VCT 3 plc via Thomson Reuters ONE 
[HUG#1634358] 
 

Octopus Ecl.3 (LSE:OEC3)
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