REG-Hazel Renewable Energy VCT 1 plc : Related Party Transactions <Origin Href="QuoteRef">HR1O.L</Origin>

Gresham House Renewable Energy VCT 1Announcement

07/03/2016 18:30

Hazel Renewable Energy VCT1 plc (the "Company") 
 7 March 2016 
 Related Party Transactions 
 
 As part of a restructuring of one of the Company's investee companies,
Ayshford Solar Holdings Limited ("Ayshford") the minority shareholders (the
"Minority Shareholders") holding 27.46% of the shares in Ayshford have sold
(the "Share Purchase") those shares to the Company and Hazel Renewable Energy
VCT2 plc ("Hazel2"). 
 
 Ben Guest, a director of the Company and therefore a related party of the
Company under Listing Rule 11.1.4, sold 60,000 ordinary shares of £1 in
Ayshford (the "Sale Shares") to the Company and Hazel2 pursuant to the Share
Purchase in consideration for the sum of £328,480.02 and was paid the sum of
£378,103.08 by Ayshford pursuant to loans that the Minority Shareholders had
made to Ayshford. The Share Purchase transaction was undertaken at a price
consistent with the latest valuation of the Ayshford investment in the
Company's books. 
 
 The agreement between the Company and Hazel2 to enter into the Share Purchase
and the purchase by the Company of the Sale Shares from Ben Guest constitute
smaller related party transactions as defined in Listing Rule 11.1.10 and
which the board of the Company agreed after having been advised by Howard
Kennedy Corporate Services LLP, as sponsor to the Company, that they were fair
and reasonable as far as the Company's Shareholders were concerned. 
 

 This announcement is distributed by NASDAQ OMX Corporate Solutions on behalf
of NASDAQ OMX Corporate Solutions clients. 
 The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein. 
 Source: Hazel Renewable Energy VCT 1 plc via Globenewswire 
 HUG#1992512