Northern Venture Tst Statement Re Offer For Subscription

 
TIDMNVT 
 
 
   4 JANUARY 2019] 
 
   NORTHERN VENTURE TRUST PLC 
 
   OFFER FOR SUBSCRIPTION 
 
   Northern Venture Trust PLC (the "Company") announces that, in 
conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC (together 
with the Company known as the "Northern VCTs"), it has published an 
offer document (the "Offer Document") dated 3 January 2019 in relation 
to offers of new ordinary shares for subscription in the 2018/19 tax 
year ("the Offers").  Each of the Offers seeks to raise up to GBP6.6 
million in each of the Northern VCTs. 
 
   Each of the Northern VCTs' shareholders will have priority application 
rights for any of the Offers, on a first come first served basis, for 
the period from when the Offers open at 8.00am on 7 January 2019 until 
close of business on 21 January 2019.  The Offers will open to all 
applicants (if not already fully subscribed) at 8.00am on 22 January 
2019. 
 
   There will be an "early bird" discount of 0.5% to Offer charges for 
valid applications received by 31 January 2019.  The Offers will be 
available for the 2018/19 tax year only and will close on 5 April 2019, 
or earlier if fully subscribed or for any other reason at the discretion 
of the Company's directors. 
 
   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 up-front costs associated with the 
Offers, including initial commissions payable to intermediaries. 
 
   The above arrangements as they relate to each of the Northern VCTs 
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 available from the NVM 
website, 
https://www.globenewswire.com/Tracker?data=Zl5RQjhqj_WafgHB1oMdaVNeYsEMwKtYO_y26d7GSZrmv_i3RihtDigRHnBzVmQx2MMGDHJW8URd0yIwAhwRAQ== 
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 
https://www.globenewswire.com/Tracker?data=Zl5RQjhqj_WafgHB1oMdaTMYar6m8YAGaB-ZKIKSQc9ppZ9KjrgDWRjZQdidWOvCLEvGQB7GtGDPgGw3HTMcwKM1saAFuGuUaeLgSgkhExX2gWCTzMc9SsgW0EAxl5vn 
www.morningstar.co.uk/uk/NSM. 
 
   Enquiries: 
 
   Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000 
 
   Website: 
https://www.globenewswire.com/Tracker?data=Zl5RQjhqj_WafgHB1oMdaRk9WpvdVnXhF7WpCnYSv6jhR2SeUYpDOBiZe4LQJQcuzfpN7NG1exa6uPQkBq4kcw== 
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

January 04, 2019 06:30 ET (11:30 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.