Announcements

Northern Investors Company PLC.

19 November 2012

NORTHERN INVESTORS COMPANY PLC

Tender Offer to purchase up to 19.83% of the issued share capital

Further to the announcement on 26 September 2012, the Board of Northern Investors Company PLC (the "Company") announces that a circular (the "Circular") containing details of the proposed tender offer (the "Tender Offer") will be posted to Shareholders today, along with the Form of Proxy for use at a General Meeting to be held on Wednesday 12 December 2012 (the "General Meeting").

The Board is pleased to confirm that the capital amount to be returned to Shareholders through the Tender Offer has been increased from £7 million to £10 million, following the recent completion of the sale of the investment in Paladin Group Limited for £3.4 million in cash.  Pursuant to the Tender Offer, Oriel Securities will purchase, on behalf of the Company, up to 19.83% of the issued share capital of the Company at a Tender Price of 335 pence per Share, equivalent to the unaudited NAV as at 30 September 2012 as shown in the half-yearly results for the six months ended 30 September 2012 published today but adjusted for the estimated costs of the Tender Offer.  These Shares will then be purchased from Oriel Securities by the Company and cancelled.  The Tender Offer will require Shareholder approval, which will be sought at the General Meeting.  The Board reserves the right to adjust the Tender Price in accordance with the provisions set out in the Circular in the event that there is a significant movement in NAV at any time up to 7 December 2012.

The Tender Offer is the second in a series of tender offers.  It is the Board's intention to conduct further tender offers, as and when the Board considers it appropriate taking into account the Company's resources and requirements.

A copy of the Circular has been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.doc.  A copy of the Circular is also available on the NVM Private Equity website at http://www.nvm.co.uk/nicgmdec2012.

A copy of the Circular is available for inspection at the Company's registered office at Northumberland House, Princess Square, Newcastle upon Tyne NE1 8ER and at the offices of SJ Berwin LLP, 10 Queen Street Place, London EC4R 1BE during normal business hours on weekdays (Saturdays, Sundays and public holidays excepted) from the date of this document until the General Meeting.

Expected Timetable

Publication of Tender Offer Circular 19 November 2012
Record date for the Tender Offer close of business on 19 November 2012
Latest time and date for revisions to the Tender Price 4.00pm on 7 December 2012
Latest time and date for receipt of Tender Offer Application Forms and TTE Instructions in relation to Tender Offer 11.00am on 10 December 2012
Latest time for receipt of forms of Proxy 2.00pm on 10 December 2012
General Meeting 2.00pm on 12 December 2012
Announcement of take-up level under the Tender Offer 13 December 2012
Settlement date for the Tender Offer: cheques despatched and assured payments made through CREST 17 December 2012

Enquiries:

Nigel Guy/Christopher Mellor, Northern Investors Company PLC - 0191 244 6000

Joe Winkley/Neil Winward, Oriel Securities Limited - 0207 710 7600

Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.

 




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Source: Northern Investors Co PLC via Thomson Reuters ONE

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