Northern 3 VCT PLC.
Miscellaneous: Suspension of Dividend Investment Scheme
16 JULY 2015
NORTHERN 3 VCT PLC
SUSPENSION OF DIVIDEND INVESTMENT SCHEME
Northern 3 VCT PLC ("the Company") announces that following the publication of the Government's Summer Budget 2015, which includes proposed restrictions on the types of new investments which may in future be treated by VCTs as qualifying holdings, the Company's Dividend Investment Scheme ("DRIS") has been suspended with immediate effect pending further consideration by the directors of the possible impact of the proposals on the Company's future investment activities.
Consequently the Company will not be issuing new ordinary shares on 17 July 2015 to those shareholders who had elected to participate in the DRIS by re-investing the proceeds of the dividends which will be paid by the Company on that date. These shareholders will instead receive their dividends in cash as if they had not elected to participate in the DRIS.
The Company has sent a letter to all shareholders today notifying them of the suspension of the DRIS.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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Source: Northern 3 VCT PLC via Globenewswire