Northern Venture Trust launches £10m share offer for 2026/27

LONDON - Northern Venture Trust PLC has announced plans to issue £10 million worth of new ordinary shares for the 2026/27 tax year, as reported by a press release. This share offering is part of a collaborative fundraising initiative involving Northern 2 VCT PLC and Northern 3 VCT PLC, known collectively as the Northern VCTs. The goal is to raise a total of £30 million across all three entities.

Interested investors will have the opportunity to apply beginning September 30, 2026, with applications being processed on a first-come, first-served basis. The offer period will conclude at 12 noon on March 31, 2027, unless the entire allocation is secured sooner or prematurely closed by the board. Current shareholders on the register as of June 10, 2026, including their spouse or civil partner, will benefit from a 0.5% discount on the offer price for their subscription.

The inaugural distribution of shares is planned for late November 2026, with valid applications needing to be received by 5:00pm on November 23, 2026, to be included in this initial allotment. Mercia Fund Management Limited, serving as the investment adviser, manager, and promoter for the Northern VCTs, is entitled to receive up to 5.5% of the total subscription funds raised, or 3.0% if no commission is collected, for the services rendered.

Mercia has guaranteed to cover all associated costs, fees, and expenses linked to the offer and the issuance of ordinary shares. The company's board has confirmed in writing that Howard Kennedy Corporate Services LLP, acting as the company's sponsor, has determined that the transaction is fair and reasonable for shareholders. The transaction involving Mercia is classified as a related party arrangement under UK Listing Rule 11.5.4R.

The offer document can be accessed at the company's registered office located at Forward House, 17 High Street, Henley-in-Arden B95 5AA, or by contacting Mercia at 0330 223 1430. This report, while supported by AI technology, has undergone rigorous editorial review. For further details, please refer to the terms and conditions.