NRI Nthn.Investors

 
TIDMNRI 
 
 
   8 March 2016 
 
   NORTHERN INVESTORS COMPANY PLC 
 
   Tender Offer and notice of general meeting 
 
   Northern Investors Company PLC (the "Company") announced on 11 November 
2015 that the Company intended to return to shareholders not less than 
GBP7 million in cash by 31 March 2016.  In announcements on 2 March 2016 
and 7 March 2016, the Company updated the minimum amount to be returned 
to shareholders to GBP13 million and then GBP20 million following the 
successful realisation of the investments in Kitwave One Limited and 
Control Risks Group Holdings Limited respectively. 
 
   The Board is now pleased to confirm that a circular giving details of a 
proposed tender offer to shareholders ("the Tender Offer") has been 
published today.  The capital amount to be returned to shareholders 
through the Tender Offer, subject to full take-up, is approximately 
GBP20 million. Pursuant to the Tender Offer, Stifel Nicolaus Europe 
Limited will purchase up to 64.29% of the issued share capital of the 
Company at a tender price of 635 pence per share, equivalent to the 
unaudited net asset value per share as at 29 February 2016, as announced 
earlier today, less the estimated costs of the Tender Offer.  These 
shares will then be purchased from Stifel Nicolaus Europe Limited by the 
Company and cancelled.  The Tender Offer will require shareholder 
approval, which will be sought at a General Meeting to be held on 31 
March 2016 (the "General Meeting"). 
 
   The Circular, which includes a form of proxy for use at the General 
Meeting, will be posted to shareholders on 8 March 2016 and a copy is 
available for inspection at the Company's registered office at Time 
Central, 32 Gallowgate, Newcastle upon Tyne NE1 4SN and at the offices 
of King & Wood Mallesons LLP, 10 Queen Street Place, London EC4R 1BE 
during normal business hours on weekdays (Saturdays, Sundays and public 
holidays excepted) from the date of this announcement until the 
commencement of the General Meeting.  The Circular is also available on 
the NVM Private Equity LLP website at 
http://www.nvm.co.uk/nicgmcmar2016. 
 
   A copy of the circular has been submitted to the National Storage 
Mechanism and will shortly be available for inspection at 
www.morningstar.co.uk/uk/NSM 
 
   Expected timetable 
 
 
 
 
Publication of Tender Offer Circular                              8 March 2016 
Record date for the Tender Offer                                      close of 
                                                                business on 24 
                                                                    March 2016 
Latest time for receipt of Forms of Proxy                         9.00am on 29 
                                                                    March 2016 
Latest time and date for receipt of Tender Offer Application     11.00am on 29 
 Forms and TTE Instructions in relation to the Tender               March 2016 
 Offer 
General Meeting                                                   9.00am on 31 
                                                                    March 2016 
Announcement of take-up level under the Tender Offer             31 March 2016 
Effective date of re-purchase of Shares by the Company           31 March 2016 
 pursuant to the Tender Offer 
Settlement date for the Tender Offer: cheques despatched,         1 April 2016 
 electronic payments made and assured payments made 
 through CREST 
 
 
   Unless otherwise defined, capitalised terms used in this announcement 
have the same meaning as those defined in the circular published by the 
Company on 8 March 2016. 
 
   Enquiries: 
 
   Northern Investors Company PLC 
 
   Nigel Guy/Christopher Mellor 
0191 244 6000 
 
   Stifel Nicolaus Europe Limited 
 
   Neil Winward/Mark Bloomfield/Gaudi Le Roux                 020 7710 7600 
 
   Website:  www.nvm.co.uk 
 
   Neither the contents of the NVM Private Equity LLP website nor the 
contents of any website accessible from hyperlinks on the NVM Private 
Equity LLP website (or any other website) is incorporated into, or forms 
part of, this announcement. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Northern Investors Co PLC via Globenewswire 
 
   HUG#1992606 
 
 
  http://www.nvm.co.uk/investorarea/northern_investors_company_plc.php 
 

(END) Dow Jones Newswires

March 08, 2016 05:05 ET (10:05 GMT)

Northern Investors (LSE:NRI)
Gráfico Histórico do Ativo
De Mai 2024 até Jun 2024

Northern Investors (LSE:NRI)
Gráfico Histórico do Ativo
De Jun 2023 até Jun 2024