Top-up share offers by Northern VCTs

Top-up share offers by Northern VCTs .

Northern Venture Trust PLC, Northern 2 VCT PLC and Northern 3 VCT PLC have announced that they intend to launch linked top-up offers of new ordinary shares for subscription in the 2016/17 tax year to raise a total of up to approximately £4.2 million for each VCT, a total fund-raising of £12.6 million.

It is expected that the offers will open on or around 7 February 2017 and will close at 5.00pm on 31 March 2017, or earlier if fully-subscribed.  Letters have been sent to registered shareholders in each of the Northern VCTs informing them that the offers are to be launched, and full details of the offers will be contained in an offer document which is expected to be published on or around 7 February 2017.

Priority will be given to applications from shareholders who are on the registers of any of the three Northern VCTs at the close of business on Wednesday 11 January 2017.  Priority for existing shareholders will expire at the close of business on Friday 17 February 2017, when the Offers (if not then fully subscribed) will be made available to the general public.  Investors will have the option to invest in any or all of the Northern VCTs.  Shares will be allocated on a first-come-first-served basis in respect of valid applications, with a minimum subscription of £6,000 in total and £2,000 per VCT.

Copies of the Stock Exchange announcements made by each of the Northern VCTs on 11 January 2017 in respect of the share offers can be found at:

Northern Venture Trust PLC – announcement on 11 January 2017
Northern 2 VCT PLC – announcement on 11 January 2017
Northern 3 VCT PLC – announcement on 11 January 2017

If you would like to receive information about the VCT share offers, please contact Wendy Arkle T 0191 244 6024 or E vct@nvm.co.uk