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17 September 2009
NORTHERN VENTURE TRUST PLC ("The Company")
C SHARE CONVERSION
The Company announces further details of the forthcoming conversion
of the Company's C shares of 75p each into ordinary shares of 25p
The C shares were issued by way of an offer for subscription launched
in November 2005 and the funds raised have been managed as a separate
pool of assets from those attributed to the ordinary shares. In
accordance with the Company's articles of association, the C shares
will convert into ordinary shares at the close of business on 29
October 2009 (the 'Conversion Date'). It is expected that the C
shares will be removed from the Official List with effect from close
of trading on 29 October 2009.
The number of new ordinary shares to be issued on conversion will be
determined by reference to the respective net asset values per share
attributable to the ordinary shares and the C shares (the 'Conversion
Ratio') as at 30 September 2009 (the 'Calculation Date'). It is
expected that details of the Conversion Ratio will be announced no
later than 29 October 2009.
New ordinary shares will be issued on 29 October 2009 to the holders
of C shares registered in the register of members of the company at
6.00pm on 29 October 2009.
The new ordinary shares to be issued on conversion will rank pari
passu with the existing ordinary shares and application will be made
for the new ordinary shares to be admitted to the Official List and
to trading on the London Stock Exchange's market for listed
securities with effect from 30 October 2009. Share certificates in
respect of the new ordinary shares will be sent to shareholders no
later than 9 November 2009.
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
(END) Dow Jones Newswires
September 17, 2009 10:36 ET (14:36 GMT)