28th Feb 2024 16:24
(Alliance News) - The boards of Mobeus Income & Growth VCT PLC, Mobeus Income & Growth 2 VCT PLC, Mobeus Income & Growth 4 VCT PLC and Income & Growth VCT PLC have entered discussions on merging the four companies into two.
All four venture capital trusts noted the discussions on Wednesday, saying the mergers would "achieve, amongst other things, cost savings, administration efficiency and simplicity."
If the mergers occurred, MIG 2 would be merged into MIG and MIG 4 would be merged into I&G.
Each merger would be subject to the approval of the shareholders of the two acquiring VCT, each company noted.
However, they also noted that the mergers will only be proposed if the boards of all four companies agree to put proposals to their respective shareholders in order to implement both mergers.
Each company said that a further announcement will be made in "due course".
Shares in MIG were up 2.7% to 57.50 pence each in London late Wednesday, MIG 2 was flat at 67.50p, MIG 4 was untraded at 68.00p, while I&G was up 2.1% at 71.50p.
By Greg Rosenvinge, Alliance News senior reporter
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