Statement regarding intention to fund raise

15 Jun 2023 15:02

15 JUNE 2023

NORTHERN 3 VCT PLC

STATEMENT REGARDING INTENTION TO FUND RAISE

Northern 3 VCT PLC (“the Company”) is pleased to announce that, subject to obtaining the requisite shareholder and regulatory approvals, it intends, in conjunction with Northern Venture Trust PLC and Northern 2 VCT PLC (together with the Company known as the “Northern VCTs”), to launch a joint prospectus offer of new ordinary shares for subscription in the 2023/24 tax year (“the Offer”). It is envisaged that the Offer will seek to raise up to £14 million for the Company. The Offer will have an over-allotment facility, which, if utilised, will seek to raise up to an additional £6 million for the Company (with a total fund-raising of up to £60 million across the Northern VCTs, including the over-allotment facility).

Full details of the Offer will be contained in the prospectus which is expected to be published in the second half of September 2023.

Enquiries:

Sarah Williams / James Sly, Mercia Fund Management Limited - 0330 223 1430

Website: www.mercia.co.uk/vcts

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.