NTV Northern 2 Vct Plc

 
TIDMNTV 
 
 
   10 JANUARY 2020 
 
   NORTHERN 2 VCT PLC 
 
   OFFER FOR SUBSCRIPTION 
 
   Northern 2 VCT PLC ("the Company") announces that in conjunction with 
Northern Venture Trust PLC and Northern 3 VCT PLC (together with the 
Company known as "the Northern VCTs"), it has published a Prospectus in 
relation to offers of new ordinary shares for subscription in the 
2019/20 tax year ("the Offers").  The Offers seek to raise a total of 
GBP13.3 million in each of the Northern VCTs. 
 
   Applications for the new shares in the Company will be dealt with on a 
"first come first served" basis. However, in recognition of the loyal 
shareholder following which the Northern VCTs enjoy, investors who are 
existing shareholders whose applications for shares in the Company are 
accepted will benefit from a reduction of 0.5% in the offer charges 
compared to the charges for new shareholders, provided they (or their 
spouse or civil partner) were on the register of any of the Northern 
VCTs at 6 December 2019. The Offers will remain open until 1 April 2020, 
unless fully subscribed at an earlier date and subject to the directors' 
right to close the Offers at any time. 
 
   Pursuant to the Offers, Mercia Fund Management Limited, the Northern 
VCTs' investment manager and promoter, will, in respect of the services 
provided pursuant to the Offers, receive an amount equal to 4.5% (or 
2.5% where no commission is payable) of the aggregate amounts of the 
subscription monies as received by the Northern VCTs pursuant to the 
Offers together with an annual commission of 0.2% for five years of the 
gross funds subscribed under the Offers in respect of which trail 
commission is payable. These arrangements, as they relate to the 
Northern VCTs, constitute smaller related party transactions within 
Listing Rule 11.1.10R. 
 
   An investment brochure describing the key features of the Offers and an 
application form will be posted to registered shareholders as soon as 
possible and are also available from www.nvm.co.uk. 
 
   A downloadable version of the Prospectus is available from 
https://www.globenewswire.com/Tracker?data=DpIsR_pToZLOrpE2URgxeiLyGiqpcGy-Hm-11j4Xa-1TXJSeCGEKc9QcWkgaqC8JeivI9UBTjB2dMDLhqP59VRHjy7ghMxMVimWTnaHSQxeHpiCP9zrVvMZquZXNPLx4ZfU3MWDfozLfzs3DOjWJL1bQx5f-Ik-yyRvDq9riQD4= 
www.nvm.co.uk/investor--area/fundraise2020/. 
 
   A copy of the Prospectus is available, free of charge, from the 
Company's registered office at Time Central, 32 Gallowgate, Newcastle 
upon Tyne, NE1 4SN or by calling NVM Private Equity LLP on 0191 244 
6000. 
 
   In accordance with the Listing Rules, the Prospectus has been submitted 
to the National Storage Mechanism and will shortly be available for 
inspection at www.morningstar.co.uk/uk/NSM. 
 
   Enquiries: 
 
   Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000 
 
   Website:  www.nvm.co.uk 
 
   Martin Glanfield, Chief Financial Officer Mercia Asset Management PLC - 
0330 223 1430 
 
   Website: www.mercia.co.uk 
 
   Neither the contents of the NVM Private Equity LLP or the Mercia Asset 
Management PLC website, nor the contents of any website accessible from 
hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC 
website (or any other website), is incorporated into, or forms part of, 
this announcement. 
 
 
 
 

(END) Dow Jones Newswires

January 10, 2020 09:30 ET (14:30 GMT)

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