Statement re Possible Merger
June 03 2011 - 10:05AM
UK Regulatory
TIDMNNA
3 JUNE 2011
NORTHERN AIM VCT PLC
STATEMENT RE POSSIBLE MERGER
The boards of Northern 3 VCT PLC ("Northern 3") and Northern AIM VCT PLC
("Northern AIM") announce that they have commenced discussions with a view to a
possible merger of the two companies. Any merger would be subject to approval
by the shareholders of both companies. Subject to further consideration, it is
envisaged that the merger would be effected by means of a scheme of
reconstruction under Section 110 of the Insolvency Act 1986 by transferring the
assets and liabilities of Northern AIM to Northern 3 in consideration for new
Northern 3 ordinary shares, which would be issued to Northern AIM shareholders
on the basis of the respective net asset values. A merger on this basis will be
outside the provisions of The City Code on Takeovers and Mergers.
A further announcement will be made in due course.
Enquiries:
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website: www.nvm.co.uk
Neither the contents of the NVM Private Equity Limited website nor the contents
of any website accessible from hyperlinks on the NVM Private Equity Limited
website (or any other website) is incorporated into, or forms part of, this
announcement.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northern AIM VCT PLC via Thomson Reuters ONE
[HUG#1521179]
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