New Century AIM VCT shareholders vote in favour of wind up

Dealing of shares suspended

Shareholders of the New Century AIM VCT have voted in favour of winding up the company, resulting in the suspension of the dealing of its shares to prevent a “false market” arising.

In a stock exchange notice, the company said the special resolution to voluntarily wind up the trust was passed at an EGM today (26 April), with 2,803,547 votes in favour and 305 against.  Given the small size of the fund, the difficulty in selling its shares, the wide spread between the bid and offered prices and the wish to pay out the cash reserves by means of distributions to shareholders, the board unanimously recommended voting in favour of winding up the fund. The directors said they are aware that there are certain unquoted investments with only nominal value. Purely to simpli...