Northern Venture Trust PLC.
20 DECEMBER 2010
NORTHERN VENTURE TRUST PLC ("the Company")
RESULT OF TENDER OFFER AND PURCHASE OF OWN SHARES
Further to the Tender Offer set out in the Circular to shareholders dated 16
November 2010, the Company announces that applications were received from
Eligible Shareholders by the Closing Date in respect of a total of 7,651,324
ordinary shares of 25p each (representing approximately 12.9% of the Company's
issued ordinary share capital as at the Record Date).
In accordance with the terms and conditions of the Tender Offer, the Company has
accepted in full all applications made by Eligible Shareholders up to their 10%
Basic Entitlement. As certain Eligible shareholders did not take up their 10%
Basic Entitlement, the Company has also accepted, in part, those applications
made by Eligible Shareholders in excess of their 10% Basic Entitlement, scaled
back on a pro rata basis.
The total number of shares for which applications were accepted under the Tender
Offer was 5,913,941, representing 10% of the Company's issued ordinary share
capital as at the Record Date, and accordingly on 20 December 2010 the Company
purchased for cancellation 5,913,941 ordinary shares at a price of 78.3p in
accordance with the terms of the Tender Offer. Immediately following this
transaction there were 53,652,614 ordinary shares in issue.
In conformity with the Transparency Directive, the Company notifies the market
that the capital of the Company consists of 53,652,614 ordinary shares with a
nominal value of 25p each. All the shares have voting rights.
The Company does not hold any ordinary shares in treasury.
Therefore, the total number of voting rights in the Company is 53,652,614 (the
The Figure may be used by a shareholder or other person as the denominator for
the calculations by which he will determine if he is required to notify the
voting rights he holds in relation to the Company, or a change to those voting
rights, under the FSA's Disclosure and Transparency Rules.
Applicants under the Tender Offer will shortly receive written confirmation of
the outcome of their application together with a cheque in respect of the sale
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
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Source: Northern Venture Trust PLC via Thomson Reuters ONE
(END) Dow Jones Newswires
December 20, 2010 11:29 ET (16:29 GMT)