Completion of Sale of Downing non-healthcare ventures business to Foresight Group and Novation of Investment Management Agreement

Source: OMX
Completion of Sale of Downing non-healthcare ventures business to Foresight Group and Novation of Investment Management Agreement

Downing FOUR VCT plc
LEI: 21380035MV1VRYEXPR95
5 July 2022
Completion of Sale of Downing non-healthcare ventures business to Foresight Group and Novation of Investment Management Agreement

Further to the announcement released by Downing FOUR VCT plc (“Downing FOUR” or “the Company”), at 7:04 am on 13 June 2022, the Company confirms Downing LLP (“Downing”), the Company’s investment manager, has now completed the sale of its non-healthcare ventures business to Foresight Group LLP (“Foresight”).  The Company’s Investment Management Agreement (with the exception of the management of the Healthcare share pool) has also now been novated from Downing to Foresight as planned.

As previously reported, the management of the Company’s Healthcare share pool has been retained by Downing. Downing will also continue to provide administration services, and investment management services in respect of the AIM share pool and for non-ventures portfolio investments (primarily in the planned exit share pools which are being wound down) for a transitional period.

The Board also confirms that it is planning to change the Company’s name. Further details will be announced in due course.

Enquiries
Grant Whitehouse
Company Secretary
Tel: 020 7630 4333