REG-Hargreave Hale AIM VCT 1 plc : Doc re. Possible Merger <Origin Href="QuoteRef">HHV.L</Origin>

Hargreave Hale Aim VctAnnouncement

27/12/2017 09:10

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Hargreave Hale AIM VCT 1 Plc 
Hargreave Hale AIM VCT 2 Plc 
27 December 2017

Possible merger between Hargreave Hale AIM VCT 1 Plc ("HH1") and Hargreave
Hale AIM VCT 2 Plc ("HH2") (together, the "Companies")

The board of directors of the Companies announce that they have entered into
discussions regarding a possible merger of the Companies ("Merger"). These
discussions may or may not lead to an agreement to merge the Companies. If
the Merger is to proceed, the current intention is that it will be effected
pursuant to a scheme of reconstruction under s.110 of the Insolvency Act 1986
by transferring the assets and liabilities of HH2 to HH1 in consideration for
the issue of new HH1 shares to HH2 shareholders on a relative net asset value
basis. A merger solely on this basis would be outside the provisions of The
City Code on Takeovers and Mergers. If the Merger proceeds it will be
subject to the approval of shareholders of both Companies.

HH1 is also proposing in early February 2018 to launch an offer for
subscription to raise up to £20 million with an overallotment facility of a
further £10 million ("Offer").

If the Merger proceeds, it is anticipated that the Prospectus and Circulars
required under the Listing Rules and companies legislation ("Merger
Documents") would be despatched to shareholders in early February 2018, with
shareholders general meetings taking place in early March, and completion in
mid-March. Details of the Offer will also be set out in the Merger Documents.

A further announcement will be made in due course.

The information contained within this announcement is deemed by the Companies
to constitute inside information as stipulated under the Market Abuse
Regulations (EU number. 596/2014). Upon the publication of this announcement
via Regulatory Information Service this inside information is now considered
to be in the public domain.

For additional information, please contact:

Stuart Brookes
Company Secretary
Hargreave Hale AIM VCT 1 & 2 plc
01253 754740
This announcement is distributed by Nasdaq Corporate Solutions on behalf of
Nasdaq 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: Hargreave Hale AIM VCT 1 plc via Globenewswire