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Share Name Share Symbol Market Type Share ISIN Share Description
Northern 2 Vct Plc LSE:NTV London Ordinary Share GB0005356430 ORD 5P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  +0.00p +0.00% 61.50p 60.50p 62.50p 61.50p 61.50p 61.50p 0 01:00:00
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
General Financial 2.6 1.8 1.2 51.3 56.75

Northern 2 VCT PLC Statement Regarding Top Up Offer

23/11/2018 3:30pm

UK Regulatory (RNS & others)


 
TIDMNTV 
 
 
   23 NOVEMBER 2018 
 
   NORTHERN 2 VCT PLC 
 
   PROPOSED TOP-UP OFFER FOR SUBSCRIPTION 
 
   Northern 2 VCT PLC (the "Company") announces that subject to obtaining 
the requisite shareholder approvals (which will be sought at the general 
meeting to be held on 20 December 2018) 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 top-up offer of new 
ordinary shares for subscription in the 2018/19 tax year ("the Offer"). 
It is envisaged that the Offer will seek to raise up to GBP6.6 million 
(equivalent to EUR7.4 million at current exchange rates) for each of the 
Northern VCTs, a total fund-raising of up to GBP19.8 million. 
 
   It is expected that the Offers will open on or around 7 January 2019 and 
will remain open until 5 April 2019, unless fully subscribed at an 
earlier date and subject to the directors' right to close any Offer at 
any time. It is expected that all new shares will be allotted between 1 
April 2019 and 5 April 2019. Further details of the Offer will be 
contained in the offer document which is expected to be published on or 
around 7January 2019 (the "Offer Document"). 
 
   Applications for the new shares in the Company will be dealt with on a 
"first come first served" basis with a minimum subscription of GBP6,000 
in total and GBP2,000 in each of the Northern VCTs.  However, 
shareholders on the register of members for any of the Northern VCTs as 
at the close of business on 14 November 2018 will have priority 
application rights for a period of fourteen days from the date of 
publication of the Offer Document. 
 
   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 minimise any dilution in the net asset value 
attributable to each existing share when the new shares are issued. A 
discount to the issue price will be available to all applicants 
(including existing shareholders) whose applications are received by the 
Company by the date falling 4 weeks after the opening of the Offer 
(expected to be 4 February 2019). 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 Offer Document. 
 
   Enquiries: 
 
   Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000 
 
   Website: 
https://www.globenewswire.com/Tracker?data=OEyZS4t4gp8Lg0nj2IB9hdUZ4QpshWapw3DqStVX73PWiXZZNf6lmMo36HenoWwWSzT1bm7_wBZBlZczglbevQ== 
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

November 23, 2018 10:30 ET (15:30 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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