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10 MAY 2011
NORTHERN INVESTORS COMPANY PLC
Proposed change of investment strategy
Following the announcement on 14 April 2011, the Board of Northern Investors Company PLC (the “Company”) has consulted with its major shareholders about the future direction of the Company and, as a result of these consultations, has decided to recommend an orderly realisation of the portfolio and efficient return of cash to shareholders.
Subject to shareholder approval, the Board will effect realisation in a manner that achieves a balance between maximising the value from the Company’s investments and making timely returns to investors. Pending such shareholder approval, the Company will cease to make any new investments in portfolio companies save where necessary in the reasonable opinion of the Board to protect or enhance the value of any existing investments or to facilitate the orderly realisation of an existing investment.
In light of these proposals Nortrust Nominees Limited, acting on behalf of Brookwell Limited, has withdrawn its requisition notice, received by the Company on 12 April 2011.
The Board intends to post a circular to shareholders by the end of July 2011 setting out the proposals in more detail and convening a general meeting to obtain shareholder approval to amend the Company’s objective and investment policy accordingly.
Peter Haigh/Christopher Mellor, Northern Investors Company PLC – 0191 244 6000
Joe Winkley/Neil Winward, Oriel Securities Limited – 0207 710 7600
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information contained therein.
Source: Northern Investors Co PLC via Thomson Reuters ONE