Northern Venture Trust PLC Announces Fundraising Plans for Growth
Northern Venture Trust PLC Looks to Capitalize on Fundraising Opportunities
Northern Venture Trust PLC is excited to share its intentions regarding a significant fundraising effort aimed at enhancing financial resources for further growth. This initiative is set to create exciting opportunities for shareholders and potential investors alike.
Joint Prospectus Offer for New Shares
The Company plans, pending necessary shareholder and regulatory approvals, to join forces with Northern 2 VCT PLC and Northern 3 VCT PLC—collectively referred to as the Northern VCTs. Together, they aim to launch a joint prospectus offer for new ordinary shares. This move is strategically designed to raise capital in the forthcoming 2024/25 tax year.
Fundraising Goals
Northern Venture Trust PLC has set an ambitious target for this fundraising initiative, aiming to raise up to £15 million specifically for its operations. Furthermore, across the combined Northern VCTs, the total fundraising goal is expected to reach an impressive £36 million.
Details to be Announced in the Upcoming Prospectus
Investors and stakeholders can anticipate comprehensive details regarding this offer to be outlined in a prospectus. This document is projected to be released in January 2025, providing clarity and insights into the fundraising effort.
Why This Fundraise is Significant
This fundraising initiative positions the Company to strengthen its investment capacity and pursue new growth opportunities. By enhancing its financial portfolio through the influx of capital, Northern Venture Trust PLC will be better equipped to navigate market challenges and capitalize on emerging trends in its sector.
Contact Information for Inquiries
For those seeking further information, inquiries can be directed to Sarah Williams or James Sly at Mercia Fund Management Limited by calling 0330 223 1430. They are prepared to assist with any questions and provide more insights about the fundraising effort.
Frequently Asked Questions
What is Northern Venture Trust PLC planning to do?
Northern Venture Trust PLC intends to launch a joint prospectus offer of new ordinary shares for subscription in the 2024/25 tax year.
How much money does Northern Venture Trust PLC aim to raise?
The Company plans to raise up to £15 million, while a total of £36 million is targeted across the Northern VCTs.
When will more details about the offer be available?
Full details of the offer will be included in a prospectus expected to be published in January 2025.
Who can I contact for more information?
You can contact Sarah Williams or James Sly at Mercia Fund Management Limited at 0330 223 1430 for further inquiries.
Why is this fundraising important for the Company?
This fundraising effort is essential as it will enable Northern Venture Trust PLC to expand its investment capabilities and pursue growth opportunities effectively.
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