Puma VCT 12 plc: Holding in Sweat Union Limited

Puma VCT 12 plc ("the Company"): Holding in Sweat Union Limited

As reported in the most recent interim results, Sweat Union Limited ("Sweat"), the budget gym operator in which we invested some £3.4m, was experiencing trading difficulties. We regret to have to report that, following the rejection of a proposed creditors' voluntary arrangement, its directors today have begun a process which may lead to Sweat entering creditors' voluntary liquidation. The shareholders are not expected to make any recovery from this liquidation, which will therefore reduce the Company's net asset value by approximately 11p per share.