Northern 3 VCT plc Publication Of Prospectus
January 10 2022 - 7:45AM
UK Regulatory
TIDMNTN
10 JANUARY 2022
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 2021/22 tax year ("the Offers"). The Offers
seek to raise a total of GBP17 million for the Company, GBP6
million for Northern Venture Trust PLC and GBP17 million for
Northern 2 VCT PLC (with a total fund-raising of up to GBP40
million).
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 costs applicable to their subscription compared
to the costs for new shareholders, provided they (or their spouse
or civil partner) were on the register of any of the Northern VCTs
at 29 November 2021. The Offers will remain open until 12 noon on
31 March 2022, 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 Company and Northern 2
VCT PLC, constitute smaller related party transactions under
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.mercia.co.uk/vcts.
A downloadable version of the Prospectus is available from:
www.mercia.co.uk/vcts
A copy of the Prospectus is available, free of charge, from the
Company's registered office at Forward House, 17 High Street,
Henley-in-Arden B95 5AA or by calling Mercia Asset Management on
0330 223 1431.
In accordance with the Listing Rules, the Prospectus has been
submitted to the National Storage Mechanism and will shortly be
available for inspection at:
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.
Enquiries:
Graham Venables/James Sly, Mercia Fund Management Limited --
0330 223 1430
Website:
https://www.globenewswire.com/Tracker?data=UICXfFd3aJAoq6svLQf3IbCokGcwWWaOepjFOnFvHodExLlJNCEtVgswTyVO-Yk8JGcS0Ud99K4Wh8drflV9V0eucG-iVx72-aqyu0FpHMUquMv2k9G8fCpYVr-3G5kIdxFZ-Fjr_n_D6zzSjwjT5u18fFC0cmPjN8gQGmUdNq7juFFxLj2ljnEutyr4g61NBsnpzzuN3Rqpl9noc_bWnYSoGl65lRXOO5q0avaQJPRJYNkRYYeifqoFuseHQgRLQUPAWRl9RzhoWuaAyq-XNReMTgEXiLTrmV1prUxhjRtcZJSepb82XWZxWs6XIM9-jD2avVenRoZcoAybrGnpWi36n9VXlOs5AFETHOWyTla5ectxY-ok1QN1ZdSkLdUSEqS5SXa86HTg1N83uCTcV_wv9kMmpP2Yt-M56BiZ320=
www.mercia.co.uk
Martin Glanfield, Chief Financial Officer, Mercia Asset
Management PLC -- 0330 223 1430
Website:
https://www.globenewswire.com/Tracker?data=UICXfFd3aJAoq6svLQf3IVpzaqai9_Z1VWFfqpxCZHS1bSSskNGZ-CsrdmodM2yZ02HCeIxpsaEMbDyJMs1yUnNssWmVru5m9-a_AfQ6JRXEe6-q5gQRZGGmoiKy3V0WYqoO5DpWuBbCMkAQS4jRQf10nFcZbOwo30Drfevi_ZWBVMlqa--EmulVXhvgrZcOxBscD17kc5RpvMaDXkx59ichzExbhIKUBowujYEJnT2kVUfSlVsaCDSLZCj3BOyys3T-nWvhmNV6-AbEEnfne2FntX-TVnucxeKkBKwmP53wQuss32MV_lr_ao0LZKBRnyJ2NgG8-2NAUPTxWdqC9qK4mPicujPHMEOZBloMron_-NoWtZZZpO0YenRWm1kh2Sc6tGxjRup81DSJ69tlBHhK--e0wFb5ebfcHZH8vWg=
www.mercia.co.uk
Neither the contents of the Mercia Asset Management PLC website,
nor the contents of any website accessible from hyperlinks on the
Mercia Asset Management PLC website (or any other website), are
incorporated into, or form part of, this announcement.
(END) Dow Jones Newswires
January 10, 2022 07:45 ET (12:45 GMT)
Copyright (c) 2022 Dow Jones & Company, Inc.
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