Source - RNS
RNS Number : 1106K
Edge Performance VCT PLC
16 September 2016
 

16 September 2016

 

Edge Performance VCT plc (the "Company")

RESULT OF CONVERSION OF SHARES

On 19 August 2016, the Company announced that its board of directors had resolved to invoke the provisions of the Company's articles of association (the "Articles") regarding conversion of shares, such that all C Shares, D Shares, E Shares, F Shares and G Shares in the capital of the Company would be converted to I Shares on 16 September 2016, such conversion to be calculated by reference to the net asset value per share of each relevant share class as at 19 August 2016 and the shareholdings reflected on the register of members of  the Company as at close of business on 26 August 2016 (the "Conversion").

For the purposes of the Conversion, the net asset values per C Share, D Share, E Share, F Share, G Share and I Share were as follows:

Share class

NAV per share at 19 August 2016

Dividends declared, but not paid, prior to 19 August 2016

NAV per share for conversion ratio purposes

 

(£)

(£)

(£)

C

0.0434

0.0000

0.0434

D

0.2463

0.0000

0.2463

E

0.3155

0.0000

0.3155

F

0.3467

0.0000

0.3467

G

0.5052

0.0700

0.4352

I

0.5736

0.0700

0.5036

The Conversion took place on 16 September 2016, as a consequence of which all C Shares, D Shares, E Shares, F Shares and G Shares were converted to I Shares and deferred shares as follows:

Share class

Number of shares prior to conversion

Number of I Shares following conversion

Number of deferred shares following conversion

C

9,330,098

804,063

8,526,035

D

19,172,500

9,376,860

9,795,640

E

9,801,952

6,140,817

3,661,135

F

29,379,532

20,226,139

9,153,393

G

24,056,803

20,789,357

3,267,446

Totals

91,740,885

57,337,236

34,403,649

 

In accordance with the Articles, the 34,403,649 deferred shares referred to above were repurchased by the Company immediately following the Conversion and subsequently cancelled.

 

Application has been made for the admission of the 57,337,236 I Shares referred to above to the premium segment of the Official List of the UK Listing Authority and to trading on the London Stock Exchange plc's main market for listed securities, which is expected to take place on or around 19 September 2016.

Following the Conversion and the repurchase and the cancellation of the deferred shares, the issued share capital of the Company is:

 

Share class

Number of shares

H

10,522,984

I

73,103,650

Total

83,626,634

 

The interim dividends of 7p per G Share and 7p per I Share which were declared by the Company on 18 August 2016, and which will be paid on 7 April 2017, will be payable to holders of G Shares and I Shares respectively as shown in the Company's register of members at the close of business on 26 August 2016; entitlement to those dividends will consequently not be affected by the Conversion.

 

Following the Conversion and the repurchase and the cancellation of the deferred shares, as detailed above, the number of shares held by the directors (PDMR) and their respective connected persons (PCA) are:

 

Name (PDMR)

H shares held

I shares held

David Glick

167,424

130,491

Robin Miller

-

50,091

Lord Flight

-

33,268

(PCA)

 

 

Lady Flight

-

28,774

 

 

 

16 September 2016

For further information, please contact:

·      City Partnership, Company Secretary:  0131 243 7210

·      Edge Investments, Investment Manager:  020 7317 1300


This information is provided by RNS
The company news service from the London Stock Exchange
 
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