Northern 3 VCT PLC Plans Major Fundraising Effort Ahead
Northern 3 VCT PLC's Upcoming Fundraising Plans
Northern 3 VCT PLC is excited to share its intention to embark on a significant fundraising initiative. This will be in partnership with Northern Venture Trust PLC and Northern 2 VCT PLC, collectively known as the "Northern VCTs." Their aim is to launch a new prospectus offer of ordinary shares targeted for the 2024/25 tax year, pending necessary shareholder and regulatory approvals.
Details of the Fundraising Offer
The anticipated fundraising effort is projected to raise up to £6 million specifically for Northern 3 VCT PLC. In total, the Northern VCTs plan to raise a whopping £36 million through this initiative. This substantial amount reflects the confidence and commitment of these funds in driving growth and investing strategically in various opportunities.
What to Expect in the Prospectus
Investors and interested parties can look forward to receiving detailed information regarding this offer in the upcoming prospectus set to be released in early 2025. This document will outline the specifics of the fundraising strategy and provide insights into the vision that Northern 3 VCT PLC and its partners have for the future.
Benefits of the Initiative
Engaging in this fundraising effort not only aims to bolster the financial capabilities of Northern 3 VCT PLC but also expands the potential for increased shareholder value. By pooling resources with Northern Venture Trust PLC and Northern 2 VCT PLC, these VCTs strengthen their collective investment power, ultimately aiming for a more diversified and robust portfolio that benefits all stakeholders involved.
Contact Information
For further inquiries regarding this fundraising initiative, interested parties can reach out to Sarah Williams or James Sly at Mercia Fund Management Limited by calling 0330 223 1430. They are ready to assist and provide clarity about any questions investors may have.
Frequently Asked Questions
What is Northern 3 VCT PLC planning?
Northern 3 VCT PLC is preparing to launch a fundraising initiative aimed at raising up to £6 million in the upcoming tax year.
Who are the partners in this initiative?
The initiative involves collaboration with Northern Venture Trust PLC and Northern 2 VCT PLC, forming the group known as the Northern VCTs.
When will the prospectus for the offer be published?
The prospectus is expected to be published in January 2025, detailing the fundraising efforts.
What is the total fundraising goal for the Northern VCTs?
The Northern VCTs are collectively aiming for a total fundraising goal of up to £36 million.
How can I get more information about this fundraising effort?
For more information, you can contact Sarah Williams or James Sly at Mercia Fund Management Limited at 0330 223 1430.
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