Winding Up


 

TIDMTRIP 
 
RNS Number : 2386W 
Triple Point VCT PLC 
24 July 2009 
 
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RETURN OF CAPITAL TO SHAREHOLDERS 
 
 
By 6 April 2009 all ordinary shareholders had held their shares for the three 
years in order to secure the VCT income tax relief they received on investment. 
In the circumstances the board concentrated on planning realisations of 
investments in order to return funds to the shareholders as soon as possible 
after 6 April 2009 with the result that the board has been able to pay two 
significant dividends subsequent to the Company's year end, 31 March 2009, 
namely GBP19,419,000 (67.9p per share) on 8 April 2009 and GBP2,174,000 (7.6p 
per share) on 13 May 2009. 
 
 
Having investigated the best route for the return of the remaining capital to 
shareholders both the board and the investment manager are of the view that the 
best way for shareholders to realise the remaining value after the payment of 
the two interim dividends is through the orderly winding-up of the Company's 
remaining investments under the Insolvency Act 1986. This will permit a low-cost 
winding-up and maximise the amount returned to shareholders.  The board of the 
Company have therefore recommended that shareholders approve the Company being 
placed into a members' voluntary winding-up and that Alan John Roberts and 
Adrian John Denis Rabet of Begbies Traynor are appointed joint liquidators for 
the purpose of such winding-up. 
 
 
A circular will be sent to shareholders setting out full details of the proposed 
winding-up and the actions that they need to take. 
 
 
The winding-up is conditional on the approval of resolutions to be proposed to 
shareholders of the Company at the annual general meeting to be held on 15 
September 2009. 
 
 
The Company will apply for cancellation of its listing on the London Stock 
Exchange following the placing of the Company into a members' voluntary 
winding-up which is anticipated to be on 16 September 2009. 
 
 
Expected Timetable for winding-up of Triple Point VCT Plc 
 
 
 
 
Notice of General Meeting    24 July 2009 
 
 
Deadline for receipt of Proxy Forms    5pm on 11 September 2009 
 
 
Suspension of the listing of the Shares on the Official List    7.30am on 15 
September 2009 
 
 
Annual General Meeting                   10am on 15 September 2009 
 
 
Expected date of cancellation of the listing of the Shares    8am on 16 
September 2009 
on the Official List 
 
 
 
 
 
 
 
 
 
 
 
 
Investment Manager 
 
 
Triple Point Investment Management LLP ('TPIM') will continue to provide 
investment management services to the Company until the proposed appointments of 
the liquidators. 
 
 
Documents and Approvals 
 
 
The Company's shareholders will receive a copy of a circular together with a 
notice convening the annual general meeting of shareholders to be held on 15 
September 2009 at which the shareholders will be invited to approve resolutions 
in connection with the winding-up of the Company. 
 
 
Copies of the circular have been submitted to the UK Listing Authority and will 
be shortly available for inspection at the UK Listing Authority's Document 
Viewing Facility which is situated at: 
 
 
Financial Services Authority 
25 The North Colonnade 
Canary Wharf 
London 
E14 5HS 
 
 
Telephone: 0207 066 1000 
 
 
The directors of the company accept responsibility for the information relating 
to the Company and its directors contained in this announcement. To the best of 
the knowledge and belief of such 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, for which they are solely 
responsible, is in accordance with the facts and does not omit anything likely 
to affect the use of such information. 
 
 
Enquiries to: 
 
 
Triple Point Investment Management LLP 
Triple Point VCT Plc 
4-5 Grosvenor Place 
SW1X 7HJ 
0207 201 8989 
 
 
 
 
 
 
END 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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