Puma VCT 10 PLC Dividend Declaration (5729O)
2019年10月3日 - 3:00PM
RNSを含む英国規制内ニュース (英語)
TIDMPUMX
RNS Number : 5729O
Puma VCT 10 PLC
03 October 2019
ANNOUNCEMENT RE INTERIM DIVIDEND AND WINDING-UP CIRCULAR
Interim Dividend
Following significant further realisations from the VCT
qualifying portfolio, the Board is pleased to announce that it has
approved an interim dividend of 26p per Share. The ex-dividend date
will be 10 October 2019 and the record date 11 October 2019. The
dividend will be paid to Shareholders on or about 25 October 2019.
Following payment of this further interim dividend, the Company
will have distributed 50 pence per Share in dividends.
Winding-Up Circular
It was announced on 20 June 2019 that the Board intends to put
to Shareholders a proposal for the solvent winding-up of the
Company. A circular explaining the proposal for the winding-up and
the actions which are required for its implementation has been
posted to shareholders on 3 October 2019, together with a notice of
the General Meeting of the Company to be held at 11.00 a.m. on 29
October 2019 at Cassini House, 57 St James's Street, London SW1A
1LD. The winding-up is conditional on the approval of the
resolutions to be put to the General Meeting (the
"Resolutions").
The Company's prospectus dated 31 October 2013 (the
"Prospectus") envisaged that the Company should not have a fixed
life but that the Directors would review the Company's portfolio of
investments after the first five years of trading with a view to an
orderly liquidation of its assets and a subsequent distribution of
the net proceeds to Shareholders.
As announced on 4 February 2019, the Board approved an interim
dividend of 6p per Share which was paid to Shareholders on 28
February 2019, thereby fulfilling the aim set out in the Prospectus
of paying dividends of up to 6p per annum. Dividends paid to
Shareholders to date have brought total cash returned to
Shareholders who initially received higher rate tax relief to 54
pence, comprising 24 pence in dividends and 30 pence in income tax
relief. The audited net assets at the year-end (28 February 2019)
were 67.14 pence per Share (equivalent to 91.14 pence per Share
after adding back the 24 pence per Share of dividends paid to
date). Puma Investment Management Limited (the "Investment
Manager") has continued to concentrate on planning realisations of
investments in order to return further funds to Shareholders in
accordance with the Prospectus.
Subject to the Resolutions being passed, the Investment Manager
intends to realise value from the Company's residual holdings and
settle liabilities in order to simplify the Company's liquidation
and maximise final returns to Shareholders.
The Board is, therefore, now recommending that the Company be
placed in voluntary liquidation with the intention that further
funds are returned to Shareholders by way of a capital distribution
by the liquidators and that Asher Miller and Henry Lan of David
Rubin & Partners Ltd be appointed joint liquidators.
If the Resolutions are passed, this will result in the
cancellation of the listing of the Company's Shares on the Official
List of the Financial Conduct Authority, which is expected to take
place on 30 October 2019, and the Shares ceasing to trade on the
London Stock Exchange.
Expected Timetable
Notice of General Meeting 3 October 2019
Deadline for receipt of Proxy Forms 11.00 a.m. on 25 October
2019
Suspension of the listing of the Shares 7.30 a.m. on 29 October
on the Official List 2019
General Meeting 11.00 a.m. on 29 October
2019
Expected date of cancellation of the 8.00 a.m. on 30 October
listing of the Shares on the Official 2019
List
Documents
A copy of the circular has been submitted to the National
Storage Mechanism and will shortly be available for inspection at
www.morningstar.co.uk/uk/NSM.
The Company and the Directors accept responsibility for the
information contained in this announcement. To the best of the
knowledge and belief of the Directors (who have taken all
reasonable care to ensure that such is the case), the information
relating to the Company and its directors contained in this
announcement is in accordance with the facts and does not omit
anything likely to affect the import of such information.
Enquiries
Eliot Kaye - Puma Investments - 020 7408 4070
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END
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October 03, 2019 02:00 ET (06:00 GMT)
Puma Vct 10 (LSE:PUMX)
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Puma Vct 10 (LSE:PUMX)
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