ADVFN Logo

We could not find any results for:
Make sure your spelling is correct or try broadening your search.

Trending Now

Toplists

It looks like you aren't logged in.
Click the button below to log in and view your recent history.

Hot Features

Registration Strip Icon for alerts Register for real-time alerts, custom portfolio, and market movers

NVT Northern Venture Trust Plc

57.50
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Northern Venture Trust Plc LSE:NVT London Ordinary Share GB0006450703 ORD 25P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 57.50 56.00 59.00 57.50 57.50 57.50 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Trust,ex Ed,religious,charty -9.13M -9.92M -0.0568 -10.12 100.49M

Northern Venture Tst Notice Of Gm

23/08/2017 3:00pm

UK Regulatory


 
TIDMNVT 
 
 
   23 AUGUST 2017 
 
   NORTHERN VENTURE TRUST PLC 
 
   SHAREHOLDER MEETING, SHARE ISSUE, CANCELLATION OF SHARE PREMIUM ACCOUNT 
AND EXTENSION OF THE LIFE OF THE COMPANY 
 
   Northern Venture Trust PLC ("the Company") announces that a circular 
("the Circular") has today been posted to shareholders giving notice of 
a shareholder general meeting to be held on 20 September 2017 to 
consider resolutions to facilitate a proposed share issue to raise up to 
GBP20 million (before expenses), to seek approval for the cancellation 
of the share premium account which will arise on the issue of new 
ordinary shares in the proposed share issue and to amend the articles of 
association to extend the life of the Company. 
 
   Share issue to raise up to GBP20 million 
 
   Further to the announcement made by the Company on 26 July 2017, the 
Circular contains resolutions which, if passed, would provide 
shareholder authority to facilitate the launch by the Company, subject 
to the requisite regulatory approvals, of a joint prospectus offer by 
the Company, Northern 2 VCT PLC and Northern 3 VCT PLC (together with 
the Company known as "the Northern VCTs") of new ordinary shares for 
subscription in the 2017/18 tax year ("the Offer").  It is envisaged 
that the Offer will seek to raise up to GBP20 million for each of the 
Northern VCTs. 
 
   Applications for the new shares in the Company will be dealt with on a 
"first come first served" basis.  However, applications from 
shareholders on the Company's register of members as at the close of 
business on 25 July 2017 will have priority for a period of twenty one 
days from the date of publication of the prospectus.  Thereafter, 
applications received by the Company during the 21 day priority period 
from shareholders on the registers of members of Northern 2 VCT PLC and 
Northern 3 VCT PLC as at the close of business on 25 July 2017 will be 
satisfied prior to the Offer becoming open to all applicants.  The Offer 
will remain open until 5 April 2018, unless fully subscribed at an 
earlier date and subject to the directors' right to close the Offer at 
any time. 
 
   The new shares in the Company will be issued at a premium to the most 
recent net asset value per share published prior to the allotment date, 
such that the net proceeds per new ordinary share, after deducting issue 
costs, will be equivalent to the net asset value attributable to each 
existing ordinary share.  The issue price will be subject to adjustment 
from time to time as appropriate to reflect dividend distributions and 
changes in the published net asset value per share. 
 
   Further details of the Offer will be contained in the prospectus which 
is expected to be issued by 30 September 2017. 
 
   Cancellation of share premium account 
 
   The Circular contains a resolution which, if passed, would provide 
shareholder authority for the cancellation of the share premium account 
arising on the issue of new ordinary shares, including those shares to 
be issued in connection with the Offer.  Subject to the approval of the 
Court, this will create additional distributable reserves in order to 
facilitate the buyback of the Company's own shares and/or the payment of 
dividends. 
 
   Extension of the life of the Company 
 
   The articles of association presently require that a resolution for the 
continuation of the Company be put to the annual general meeting of the 
Company held in 2019 and, unless defeated, at five-yearly intervals 
thereafter.  The proposed amendment to the articles of association 
requires the next continuation resolution to be considered at the annual 
general meeting of the Company expected to be held in December 2023 and 
every five years thereafter. 
 
   A more detailed explanation of the resolutions to be proposed at the 
general meeting is contained in the Circular. 
 
   Copies of the Circular and the revised articles of association have been 
submitted to the National Storage Mechanism and will shortly be 
available for inspection at: www.morningstar.co.uk/uk/NSM and are also 
available on the NVM Private Equity LLP website at 
www.nvm.co.uk/nvt/meetings. 
 
   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

August 23, 2017 10:00 ET (14:00 GMT)

Copyright (c) 2017 Dow Jones & Company, Inc.

1 Year Northern Venture Chart

1 Year Northern Venture Chart

1 Month Northern Venture Chart

1 Month Northern Venture Chart

Your Recent History

Delayed Upgrade Clock