Announcements

Northern Venture Trust PLC.




TIDMNVTC

28 October 2009

NORTHERN VENTURE TRUST PLC ("The Company")

C SHARE CONVERSION

The Company announces further details of the forthcoming conversion
of the Company's C shares of 75p each into ordinary shares of 25p
each and deferred shares of 25p each.

The C shares were issued by way of an offer for subscription launched
in November 2005 and the funds raised have been managed as a separate
pool of assets from those attributed to the ordinary shares. In
accordance with the Company's articles of association, the C shares
will convert into ordinary shares at the close of business on 29
October 2009 (the 'Conversion Date'). It is expected that the C
shares will be removed from the Official List with effect from 8.00am
on 30 October 2009.

The number of new ordinary shares to be issued on conversion will be
determined by reference to the respective net asset values per share
attributable to the ordinary shares (80.3p) and the C shares (74.8p)
(the 'Conversion Ratio') as at 30 September 2009 (the 'Calculation
Date'). The Conversion Ratio is 0.9313893 and the 20,409,465 C
shares currently in issue will be converted into 19,009,157 new
ordinary shares and 42,219,238 deferred shares at 6.00pm on 29
October 2009. The new ordinary shares will be allocated to C
shareholders registered in the register of members of the company at
6.00pm on 29 October 2009 on the basis of 0.9313893 new ordinary
shares for every C share held prior to conversion, subject to the
total number of new ordinary shares being 19,009,157; allocations
will normally be rounded to the nearest whole number.

C shareholders registered in the register of members of the company
at 6.00pm on 29 October 2009 will also receive deferred shares, which
in accordance with the Company's articles of association will then be
acquired by the Company for a nominal amount (which will not be paid
to shareholders); it is expected that this will occur immediately
following the next annual general meeting of the Company subject to
the passing of an enabling resolution at that meeting. Share
certificates will not be issued in respect of deferred shares and the
deferred shares will not be listed or admitted to trading on any
market.

The new ordinary shares to be issued on conversion will rank pari
passu with the existing ordinary shares and application will be made
for the new ordinary shares to be admitted to the Official List and
to trading on the London Stock Exchange's market for listed
securities with effect from 8.00am on 30 October 2009. CREST
accounts in respect of uncertificated holdings of the new ordinary
shares are expected to be credited on 30 October 2009 and share
certificates in respect of the new ordinary shares will be sent to
shareholders no later than 9 November 2009.


Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191
244 6000
Website: www.nvm.co.uk

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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.


(END) Dow Jones Newswires



October 28, 2009 12:23 ET (16:23 GMT)