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1 FEBRUARY 2011
NORTHERN VENTURE TRUST PLC ("the Company")
OFFER FOR SUBSCRIPTION UPDATE
The Company is pleased to announce updated information relating to the offer for
subscription for the 2010/11 and 2011/12 tax years, details of which were set
out in the Prospectus dated 16 November 2010 ("the Offer"). The Offer opened on
16 November 2010 and is due to close no later than 5 April 2011 in the case of
the 2010/11 tax year and no later than 28 April 2011 in the case of the 2011/12
tax year, unless previously extended.
The maximum amount to be raised under the Offer (before issue costs) is
ÂGBP15,000,000. As at the close of business on 31 January 2011, the Company had
accepted applications for Offer Shares totalling over ÂGBP12,900,000. As stated in
the Prospectus, applications will be dealt with on a "first come-first served"
basis, subject to the absolute discretion of the Board.
As previously announced, a total of 5,619,178 Offer Shares was allotted at an
issue price of 86p on 23 December 2010 and 12 January 2011. It is expected that
the next allotment of Offer Shares will take place on 4 February 2011.
Following the announcement on 28 January 2011 that the unaudited net asset value
per ordinary share as at 31 December 2010 was 82.2p, the issue price for Offer
Shares allotted on or after 31 January 2011 will until further notice, in
accordance with the Pricing Formula set out in the Prospectus, be 87p.
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Neither the contents of the NVM Private Equity Limited website nor the contents
of any website accessible from hyperlinks on the NVM Private Equity Limited
website (or any other website) is incorporated into, or forms part of, this
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northern Venture Trust PLC via Thomson Reuters ONE
(END) Dow Jones Newswires
February 01, 2011 07:42 ET (12:42 GMT)