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Amati News

AMATI VCT PLC AND AMATI VCT 2 PLC MERGER ANNOUNCEMENT

The shareholders of Amati VCT plc voted to approve the final steps required to merge with Amati VCT 2 plc on 4 May 2018. The merger is therefore unconditional and Amati VCT plc is now in voluntary liquidation. Amati VCT 2 plc has been renamed Amati AIM VCT plc with effect from 4 May 2018 as elected by shareholders.

As envisaged in the joint shareholder circular published on 9 March 2018 (the "Circular"), Amati AIM VCT plc has issued 41,231,436 new ordinary shares to the shareholders of Amati VCT plc in return for the transfer to Amati AIM VCT plc of the assets and liabilities of Amati VCT plc. The respective net asset values of the companies were calculated in accordance with the formula set out in the Circular (i.e. a like for like basis) resulting in a rollover ratio of 5.98787 shares in Amati AIM VCT plc being issued for each 10 shares in Amati VCT plc, rounded down to the nearest whole share. Following the issue of these new shares there will be 80,027,463 ordinary shares of Amati AIM VCT plc in issue.

As Amati VCT plc is now in liquidation, the listing on the UKLA's official list and admission to trading on the LSE's main market will be cancelled, expected to be effective at 8.00am on 8 May 2018.

As anticipated, Julian Avery has stepped down from the board of directors and Peter Lawrence, Julia Henderson and Brian Scouler have joined the board of Amati AIM VCT plc.

Share certificates in respect of New Shares issued in certificated form are expected to be sent to Shareholders of Amati VCT plc during the week commencing 14 May 2018.