Mergers and Acquisitions News

London, Mar. 9, 2010 (PR Newswire UK Disclose) -- 

UNICORN AIM VCT PLC

Share Consolidation, Merger Update and Board Changes

9 March 2010

This announcement is made by Unicorn AIM VCT plc ("the Company") in connection
with the consolidation of the share capital of the Company ("Share
Consolidation") and the proposed merger of the Company with Unicorn AIM VCT II
plc ("VCT II") ("Scheme") (the Share Consolidation and the Scheme together the
"Merger"), details of which were contained in the Company's prospectus ("the
Prospectus") and circular to shareholders ("the Circular") both dated 29
January 2010.

The board of directors of the Company ("the Board") is pleased to advise that
the resolution proposed at the general meeting of VCT II held today was duly
passed to be able to implement and effect the Merger.

By way of implementation of the Share Consolidation, the ordinary shares of 1p
each and series 2 shares of 1p each have been redesignated as series 3 shares
of 1p each ("S3 Shares") based on a ratio of 0.60781764 and 0.77503076
respectively. The S3 Shares have subsequently been redesignated as new ordinary
shares ("New Shares"). Following the Share Consolidation being effected the
Company bought back 15,094,686 deferred shares at a maximum aggregate price of
1p so that there was 34,493,485 New Shares in issue in the Company.

By way of implementation of the Scheme, the assets and liabilities of VCT II
have been transferred to the Company, in consideration for the issue of New
Shares, as set out below.

The total number of New Shares issued to VCT II shareholders in connection with
the Scheme was 26,879,525, at a deemed issue price of 91.78p per share. The
current number of New Shares in issue, therefore, is 61,373,010.

Application will shortly be made for all the New Shares issued to be admitted
to the Official List and to trading on the main market of the London Stock
Exchange. It is expected that admission will become effective and that trading
will commence on 10 March 2010.

The Board further announces that following the Scheme becoming effective:

 1. Daivd John George Royds has stepped down as director; and
   
 2. Malcolm McDonald Diamond and Jeremy John Hamer (directors of VCT II) have
    joined the Board as non-executive directors.
   
For further enquiries please contact:
Rob Brittain of Matrix-Securities Limited
Company Secretary

Telephone: 020 3206 7102


END