Northern Venture Trust Regulatory News (NVT)

22 Mar 2005 12:35

Northern Venture Trust PLC22 March 2005 For immediate release on 22 March 2005 Northern Venture Trust PLC (the "Company") Result of Tender Offer Following the announcement made on 24 February 2005, in which the Company statedits intention to purchase shares from Ordinary Shareholders via a Tender Offer,the Company now announces that by the closing date Qualifying Shareholders hadtendered a total of 2,965,751 Ordinary Shares (representing approximately 7.45%of the Company's Ordinary Share Capital) to be repurchased by the Company underthe Tender Offer. It is the Company's intention to accept all such tenderedshares in full, including all tenders up to the pro rata entitlement which wasavailable to Qualifying Shareholders and all tenders received in excess of thepro rata entitlement. The unaudited Net Asset Value ('NAV') as at 28 February 2005 was 90.1 pence perOrdinary Share, which has been calculated in accordance with the Company'snormal valuation policy and the terms of the Tender Offer. The Ordinary Sharesbeing repurchased by the Company under the Tender Offer will be acquired at NAVless a discount of 5%, as set out in the terms of the Tender Offer, being 85.6pence. Completion of the purchase by the Company of Ordinary Sharessuccessfully tendered under the Tender Offer will be deemed to take place on 22March 2005 and Settlement will be made on 11 April 2005. ENDS This information is provided by RNS The company news service from the London Stock Exchange