REG-SVM UK Emerging Fund Plc: Proposals for MVL

SVM UK Emerging FundAnnouncement

23/01/2025 13:30

23 January 2025

LEI: 213800KIT8DHOPEWW568

 

This announcement contains inside information for the purposes of Article 7 of
Market Abuse Regulation (EU) 596/2014 as it forms part of UK domestic law by
virtue of the European Union (Withdrawal) Act 2018 and as amended ("MAR"), and
is disclosed in accordance with the Company's obligations under Article 17 of
MAR. The person responsible for releasing this announcement on behalf of the
Company is Peter Dicks, Chairman of the Board.

 

SVM UK EMERGING FUND PLC

(the "Company")

Recommended Proposals for a Members' Voluntary Liquidation of the Company

The Company's board of directors (the "Board") announced on 8 November 2024
that it was reviewing a range of options available for the Company's future in
advance of the Company's continuation vote scheduled for September 2025 (the
"Review").

The Board has now concluded its Review and, following careful consideration of
the options available and after consultation with its advisers and taking into
account feedback from investors, does not believe that any of the options for
the continuation of the Company provide a satisfactory and cost-effective
outcome for shareholders of the Company ("Shareholders"). The Board has
therefore concluded that it is in the best interests of Shareholders as a
whole to put forward proposals for the realisation of the Company's
investments in order to return cash to Shareholders.

Following discussions with its advisors, the Board has come to the conclusion
that the most effective way to return cash to Shareholders is through a
members' voluntary liquidation ("MVL") of the Company.

Accordingly, the Board has reached the decision that it is now appropriate to
put forward proposals to Shareholders for a MVL of the Company (the
"Proposals"). The Board expects to issue a circular to Shareholders shortly
which will include details of these Proposals (the "Circular"). The Proposals
will require the approval of Shareholders at a general meeting of the Company.
A further announcement confirming the publication of the Circular and the
convening of the general meeting will be made in due course.

 

For further information, please contact:

 

Colin McLean   SVM Asset Management Limited 0131 226 6699

 

23 January 2025

 

 



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