22 SEPTEMBER 2017
NORTHERN 3 VCT PLC
OFFER FOR SUBSCRIPTION
Northern 3 VCT PLC ("the Company") announces that in conjunction with Northern Venture Trust PLC and Northern 2 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 2017/18 tax year ("the Offers"). The Offers seek to raise a total of £20 million in each of the Northern VCTs.
Applications for the new shares will be considered on a first come first served basis. However, applications from shareholders on the Company's register of members as at the close of business on 25 July 2017 will have priority until 13 October 2017. Further details of the shareholder priority arrangements are set out in the Prospectus. Investors will be permitted to make applications for shares in any or all of the Northern VCTs. The Offers will remain open until 5 April 2018, unless fully subscribed at an earlier date and subject to the directors' right to close the Offers at any time.
An information memorandum 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 www.nvm.co.uk.
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.
CHANGE TO THE COMPANY'S INVESTMENT POLICY
On 18 September 2017 the Company made a non-material change to its investment policy to incorporate the following statement regarding the Company's co-investment scheme: "The Company operates a co-investment scheme under which the Manager's investment executives are required to co-invest with them in all new VCT-qualifying investments". The revised investment policy incorporating this non-material change has been published in full in the Prospectus, as has a summary of the terms of the co-investment scheme.
Enquiries:
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
Website: www.nvm.co.uk
Neither the contents of the NVM Private Equity LLP website nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP website (or any other website) is incorporated into, or forms part of, this announcement