Conversion of Securities
(Thomson Reuters ONE) - 28 October 2009NORTHERN VENTURE TRUST PLC ("The Company")C SHARE CONVERSIONThe Company announces further details of the forthcoming conversionof the Company's C shares of 75p each into ordinary shares of 25peach and deferred shares of 25p each.The C shares were issued by way of an offer for subscription launchedin November 2005 and the funds raised have been managed as a separatepool of assets from those attributed to the ordinary shares. Inaccordance with the Company's articles of association, the C shareswill convert into ordinary shares at the close of business on 29October 2009 (the 'Conversion Date'). It is expected that the Cshares will be removed from the Official List with effect from 8.00amon 30 October 2009.The number of new ordinary shares to be issued on conversion will bedetermined by reference to the respective net asset values per shareattributable to the ordinary shares (80.3p) and the C shares (74.8p)(the 'Conversion Ratio') as at 30 September 2009 (the 'CalculationDate'). The Conversion Ratio is 0.9313893 and the 20,409,465 Cshares currently in issue will be converted into 19,009,157 newordinary shares and 42,219,238 deferred shares at 6.00pm on 29October 2009. The new ordinary shares will be allocated to Cshareholders registered in the register of members of the company at6.00pm on 29 October 2009 on the basis of 0.9313893 new ordinaryshares for every C share held prior to conversion, subject to thetotal number of new ordinary shares being 19,009,157; allocationswill normally be rounded to the nearest whole number.C shareholders registered in the register of members of the companyat 6.00pm on 29 October 2009 will also receive deferred shares, whichin accordance with the Company's articles of association will then beacquired by the Company for a nominal amount (which will not be paidto shareholders); it is expected that this will occur immediatelyfollowing the next annual general meeting of the Company subject tothe passing of an enabling resolution at that meeting. Sharecertificates will not be issued in respect of deferred shares and thedeferred shares will not be listed or admitted to trading on anymarket.The new ordinary shares to be issued on conversion will rank paripassu with the existing ordinary shares and application will be madefor the new ordinary shares to be admitted to the Official List andto trading on the London Stock Exchange's market for listedsecurities with effect from 8.00am on 30 October 2009. CRESTaccounts in respect of uncertificated holdings of the new ordinaryshares are expected to be credited on 30 October 2009 and sharecertificates in respect of the new ordinary shares will be sent toshareholders no later than 9 November 2009.Enquiries:Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191244 6000Website: www.nvm.co.uk---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 28.10.2009 - 17:22 Uhr
Sprache: Deutsch
News-ID 7561
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