Conversion of Securities

 
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.