Northern 3 VCT plc Offer For Subscription

 
TIDMNTN 
 
 
   7 FEBRUARY 2017 
 
   NORTHERN 3 VCT PLC 
 
   OFFER FOR SUBSCRIPTION 
 
   Northern 3 VCT PLC (the "Company") announces that, in conjunction with 
Northern Venture Trust PLC and Northern 2 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 3 VCT PLC via Globenewswire 
 
 
  http://www.nvm.co.uk/investorarea/northern_3_vct_plc.php 
 

(END) Dow Jones Newswires

February 07, 2017 03:00 ET (08:00 GMT)

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