Northern 2 VCT PLC Statement Re Proposed Joint Offer For Subscription

 
TIDMNTV 
 
 
   6 DECEMBER 2019 
 
   NORTHERN 2 VCT PLC 
 
   PROPOSED JOINT OFFER FOR SUBSCRIPTION 
 
   Northern 2 VCT PLC (the "Company") announces (further to the 
announcement made on 10 October 2019) that subject to obtaining the 
requisite regulatory and shareholder approvals, the latter of which will 
be sought at a general meeting which is to be held on 7 January 2020, it 
intends, in conjunction with Northern Venture Trust PLC and Northern 3 
VCT PLC (together with the Company known as the "Northern VCTs") to 
launch a joint prospectus offer of new ordinary shares for subscription 
in the 2019/20 tax year ("the Offer").  It is envisaged that the Offer 
will seek to raise up to GBP13.3 million for each of the Northern VCTs 
(a total fund-raising of up to GBP40 million). 
 
   Applications for the new shares in the Company will be dealt with on a 
"first come first served" basis. However, in recognition of the loyal 
shareholder following which the Northern VCTs enjoy, existing 
shareholders on the register of any of the Northern VCTs at 6 December 
2019 whose applications for shares in the Company are accepted will 
benefit from a reduction of 0.5% in the offer charges compared to the 
charges for new shareholders. 
 
   The Offer will remain open until 5 April 2020, unless fully subscribed 
at an earlier date and subject to the directors' right to close the 
Offer at any time. 
 
   The new shares will be issued at a premium to the latest published net 
asset value per share prior to the relevant allotment date to allow for 
issue costs and to avoid any dilution in the net asset value 
attributable to each existing share when the new shares are issued.  The 
issue price applicable to each allotment will be subject to adjustment 
as appropriate to reflect dividend distributions and changes in the 
published net asset value per share since the publication of the 
prospectus. 
 
   Further details of the Offer will be contained in the prospectus which 
is expected to be published in January 2020 
 
   Enquiries: 
 
   Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000 
 
   Website: 
https://www.globenewswire.com/Tracker?data=2scyQnzdSw3bVXhByrfYCf4EIFdhHVFkEpRtC1x3JA1leAkzLIlc3rPmfAyDajfESMWcU8-rcsUUSHQI6ZU4yA== 
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. 
 
 
 
 

(END) Dow Jones Newswires

December 06, 2019 11:40 ET (16:40 GMT)

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