Northern Venture Trust PLC.
Offer for subscription
7 FEBRUARY 2017
NORTHERN VENTURE TRUST PLC
OFFER FOR SUBSCRIPTION
Northern Venture Trust PLC (the "Company") announces that, in conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC (together with the Company known as the "Northern VCTs"), it has published an offer document (the "Offer Document") dated 6 February 2017 in relation to offers of new ordinary shares for subscription in the 2016/17 tax year ("the Offers"). The Offers seek to raise up to £4.3 million in each of the Northern VCTs.
Applications for the new shares in the Company will be considered on a first come first served basis subject to the directors' discretion. The Offers are now open to Existing Shareholders in any of the Northern VCTs and are expected to open to the general public at 8.00am on Monday 20 February 2017, if not already fully subscribed. The Offers will remain open until 5.00pm on 31 March 2017, unless fully subscribed at an earlier date and subject to the directors' right to close the Offers at any time.
Pursuant to the Offers, NVM Private Equity LLP ("NVM"), the investment manager to the Northern VCTs, will, in respect of the services provided pursuant to the Offers, receive a fee of 2% of the gross proceeds of the Offers in respect of subscriptions received either direct or through a financial adviser; or 4% of the gross proceeds of the Offers for subscriptions received through an execution only platform or broker. Out of this fee, NVM will pay all costs associated with the Offers, including initial commissions payable to intermediaries.
The above arrangements as they relate to Northern 2 VCT PLC and Northern 3 VCT PLC constitute smaller related party transactions within Listing Rule 11.1.10R.
To obtain a copy of the Offer Document, private investors and financial advisers should call NVM Private Equity LLP on 0191 244 6000. A downloadable version of the Offer Document is also available from the NVM website, www.nvm.co.uk.
A copy of the Offer Document is available, free of charge, from the Company's registered office:
Newcastle upon Tyne
The Offer Document has been submitted to the National Storage Mechanism and will shortly be available for inspection at www.morningstar.co.uk/uk/NSM.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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.
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