Calculus VCT plc
24 July 2017
Share Class Merger
As set out in the annual report and approved by shareholders in November 2015, the Ordinary and C shares on which dividends of 84.05 and 73.1 pence per share respectively have been paid out will be converted into D shares. The adjusted net asset values ("NAV") of the Ordinary, C and D shares at 28 February 2017 form the basis for calculating the conversion ratio for the conversion of the Ordinary and C shares into D shares. The calculation is set out below:
|
Ordinary Shares (p) GB00B631ZQ22 |
C shares (p) GB00B3RNDW55 |
D shares (p) entitled to the dividend GB00BYQPF348 |
28 February 2017 NAV |
20.63 |
26.02 |
94.52 |
Dividend adjustment |
(7.00) |
(3.00) |
- |
Adjusted NAV |
13.63 |
23.02 |
94.52 |
Conversion ratio |
0.1442 X |
0.2435 X |
|
The calculation date for the share class merger will be 31 July 2017. The newly merged D share class will subsequently be renamed the Ordinary share class. A further RNS will be released when the merger has taken place, on 1 August 2017.
Calculus Capital
Company Secretary
