Northern Venture Tst Offer For Subscription
February 07 2017 - 2:00AM
UK Regulatory
TIDMNVT
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 GBP4.3 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:
Time Central
32 Gallowgate
Newcastle upon Tyne
NE1 4SN
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.
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
February 07, 2017 03:00 ET (08:00 GMT)
Copyright (c) 2017 Dow Jones & Company, Inc.
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