Northern 2 VCT PLC.
23 FEBRUARY 2011
NORTHERN 2 VCT PLC
LINKED TOP-UP OFFER UPDATE
Northern 2 VCT PLC ("Northern 2") is pleased to announce the launch, in
conjunction with Northern 3 VCT PLC ("Northern 3"), of a linked top-up offer of
new ordinary shares for subscription for the 2010/11 tax year ("the Offer").
The Offer seeks to raise a total of up to ÂGBP3,150,000. Subscriptions will be
allocated in a fixed ratio of 33.3% to Northern 2 and 66.7% to Northern 3, so
that the maximum amounts to be raised by the two VCTs will be ÂGBP1,050,000 and
The amount being raised by each VCT falls within the Euros 2,500,000 limit
specified by the Prospectus Rules for share issues where a full prospectus is
not published, after taking account of shares recently offered and to be offered
in the next 12 months under Northern 2's Dividend Investment Scheme.
The offer price per new ordinary share will be 82.0 pence for Northern 2 and
94.0 pence for Northern 3. The offer price is in each case based on the latest
published net asset value per ordinary share, adjusted for any dividends
declared but not yet paid, divided by 0.945 to allow for issue costs of 5.5% of
the amount raised under the Offer. It is not expected that Northern 2 or
Northern 3 will announce an updated net asset value during the period of the
Offer but should this become necessary then the offer price in respect of any
new shares not already allotted will be adjusted accordingly.
The Offer opened on 23 February 2011 and will close at 5.00pm on 5 April 2011,
or earlier if fully subscribed. Shares will be allotted on or before 5 April
2011. Copies of the offer document, including an application form, can be
downloaded from the NVM Private Equity Limited website at
www.nvm.co.uk/n2n3offer, or can be requested by telephoning NVM Private Equity
Limited on 0191 244 6000.
Christopher Mellor/Alastair Conn, 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 2 VCT PLC via Thomson Reuters ONE
(END) Dow Jones Newswires
February 23, 2011 11:31 ET (16:31 GMT)