Offer Update – Utilisation of Over-Allotment Facility
28 NOVEMBER 2023
NORTHERN VENTURE TRUST PLC
OFFER UPDATE – UTILISATION OF OVER-ALLOTMENT FACILITY
Northern Venture Trust PLC (“the Company”) in conjunction with Northern 2 VCT PLC and Northern 3 VCT PLC (together with the Company known as “the Northern VCTs”), published a prospectus (“the Prospectus”) on 18 September 2023 in relation to offers of new ordinary shares for subscription in the 2023/24 tax year (“the Offers”). Following strong demand in the Company’s shares under its offer, the Company has elected to utilise its over-allotment facility to raise a further £6.0m for the Company.
Applications for new shares in the Company will be dealt with on a “first-come, first-served” basis. In recognition of the loyalty of the Northern VCT shareholders, existing shareholders on the register of members of any of the Northern VCTs as at 14 June 2023, along with their spouse or civil partner, whose applications for shares in any of the Northern VCTs are accepted, will benefit from a reduction of 0.5% in the offer costs applicable to their subscription. The Offers will remain open until 12 noon on 28 March 2024, unless fully subscribed at an earlier date and subject to the Directors’ right to close the Offers at any time. There will be a first allotment on 7 December 2023 and to be allocated shares in the first allotment, funded applications must be received by close of business 30 November 2023.
A downloadable version of the prospectus relating to the Offers is available from: www.mercia.co.uk. Additionally, a copy is available free of charge, from the Company’s registered office at Forward House, 17 High Street, Henley-in-Arden B95 5AA or by calling Mercia on 0330 223 1430.
Enquiries:
James Sly, Mercia Fund Management Limited – 0330 223 1430
Website: www.mercia.co.uk/vcts
Neither the contents of the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are incorporated into, or form part of, this announcement.
