03:51 PM EST - Discovery Capital Corp. : which holds investment interests in seven junior technology companies, reported Friday that it plans to liquidate and distribute its assets to shareholders. Discovery's portfolio includes shares of four publicly traded companies and three privately held firms. The venture-capital firm will distribute shares of its publicly traded portfolio companies, and/or cash from the sale of stock in those companies, to its shareholders. In addition, it will distribute "receipts" for its interest in illiquid positions in both publicly traded and privately held portfolio companies. A subsidiary of Discovery Capital will be the custodian of those receipts. The plan of liquidation includes a proposal for the subsidiary, Discovery Capital Management Inc. (DCMC), to be purchased by Discovery Capital co-CEOs John McEwen and Harry Jaako and chief financial officer Charles Cook. Money from the sale of DCMC would also be distributed to Discovery Capital's shareholders. No definitive deal has been reached and a special committee has been established to consider the management offer and any alternative offers that come forward. Through its 20-year history, Discovery Capital has invested in B.C. companies operating in the information-technology, communications, health and life sciences, and other advanced technologies. Discovery Capital Corp.
shares DVY.Y:CA are trading up one cent at $0.18.
