27 Apr 2012 12:15
TP70 VCT plc Announcement to Shareholders - Realisation Plans
27 April 2012
TP70 VCT plc
The directors of TP70 VCT plc are pleased to announce the following extract from a letter being sent today by the VCT's Chairman, Michael Sherry, to its shareholders:
"TP70 VCT plc ("TP70") - Plans Announced for Shareholder Exit
On 30th April 2012, TP70 will have met the VCT criteria which required you to hold your shares for five years in order to secure the 30% income tax relief you received on your investment.
In line with TP70's strategy to seek a swift exit for investors after the required five year holding period, I am writing today to inform you that TP70 has initiated a programme of portfolio realisations. This programme has included the realisation of its investments in GAM Diversity and a number of VCT qualifying holdings. I expect to be in a position to write to you in the coming weeks with news of the timing and value of the first distribution."
For further information please contact:
Triple Point Investment Management LLP on 020 7201 8989
Triple Point Ve (TPV)