11 JANUARY 2017
NORTHERN 3 VCT PLC
LAUNCH OF LINKED TOP-UP OFFERS
Northern 3 VCT PLC announces that it intends to launch a top-up offer of new ordinary shares for subscription in the 2016/17 tax year, in conjunction with similar offers by Northern Venture Trust PLC and Northern 2 VCT PLC (together "the Offers"). It is envisaged that the Offers will seek to raise a total of up to approximately £4.2 million (equivalent to €5 million at current exchange rates) for each VCT, a total fund-raising of £12.6 million.
It is expected that the Offers will open on or around 7 February 2017 and will close at 5.00pm on 31 March 2017, or earlier if fully-subscribed. A letter has today been sent to registered shareholders in each of the Northern VCTs informing them that the Offers are to be launched, and full details of the Offers will be contained in an offer document which is expected to be published on or around 7 February 2017.
Priority will be given to applications from shareholders who are on the registers of any of the three Northern VCTs at the close of business on Wednesday 11 January 2017. Priority for existing shareholders will expire at the close of business on Friday 17 February 2017, when the Offers (if not then fully subscribed) will be made available to the general public. Investors will have the option to invest in any or all of the Northern VCTs. Shares will be allocated on a first-come-first-served basis in respect of valid applications, with a minimum subscription of £6,000 in total and £2,000 per VCT.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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