NVT Northern Venture Trust Plc

 
TIDMNVT 
 
 
   26 JULY 2017 
 
   NORTHERN VENTURE TRUST PLC 
 
   PROPOSED JOINT OFFER FOR SUBSCRIPTION 
 
   Northern Venture Trust PLC (the "Company") announces that subject to 
obtaining the requisite regulatory and shareholder approvals, the latter 
of which will be sought at a general meeting which is expected to be 
held in September 2017, it intends, in conjunction with Northern 2 VCT 
PLC and Northern 3 VCT PLC (together with the Company known as the 
"Northern VCTs") to launch a joint prospectus offer of new ordinary 
shares for subscription in the 2017/18 tax year ("the Offer").  It is 
envisaged that the Offer will seek to raise up to GBP20 million for each 
of the Northern VCTs, ie a total fund-raising of up to GBP60 million. 
Further details of the Offer will be contained in the prospectus which 
is expected to be published in September 2017. 
 
   Applications for the new shares in the Company will be dealt with on a 
"first come first served" basis.  However, shareholders on the Company's 
register of members as at the close of business on 25 July 2017 will 
have priority application rights for a period of twenty one days from 
the date of publication of the prospectus.  Thereafter, applications 
received by the Company during that period from shareholders on the 
registers of members of Northern 2 VCT PLC and Northern 3 VCT PLC as at 
the close of business on 25 July 2017 will be satisfied prior to the 
Offer becoming open to all applicants.  The Offer will remain open until 
5 April 2018, unless fully subscribed at an earlier date and subject to 
the directors' right to close the Offer at any time. 
 
   The new shares will be issued at a premium to the latest published net 
asset value per share prior to the relevant allotment date to allow for 
issue costs and to avoid any dilution in the net asset value 
attributable to each existing share when the new shares are issued.  The 
issue price applicable to each allotment will be subject to adjustment 
as appropriate to reflect dividend distributions and changes in the 
published net asset value per share since the publication of the 
prospectus. 
 
   Enquiries: 
 
   Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000 
 
   Website:  www.nvm.co.uk 
 
   Neither the contents of the NVM Private Equity LLP website nor the 
contents of any website accessible from hyperlinks on the NVM Private 
Equity LLP website (or any other website) is incorporated into, or forms 
part of, this announcement. 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Northern Venture Trust PLC via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

July 26, 2017 09:00 ET (13:00 GMT)

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