NRI Nthn.Investors

 
TIDMNRI 
 
 
   19 May 2017 
 
   NORTHERN INVESTORS COMPANY PLC 
 
   Proposed Return of Capital 
 
   Northern Investors Company PLC (the "Company") is pleased to announce 
that it proposes to return a further GBP6.4 million to Shareholders, 
representing 257.5 pence for each Ordinary Share currently in issue, 
utilising the B Share Scheme that was approved by Shareholders on 19 
January 2017.  Under these proposals, Shareholders will receive 5.15 B 
Shares for each Ordinary Share held by them on 26 May 2017 by way of a 
bonus issue.  Fractional entitlements will be rounded down to the 
nearest whole number.  Shortly after their issue, the B Shares will be 
redeemed by the Company in accordance with their terms at a price of 50 
pence for each B Share then in issue.  Shareholders are expected to 
receive the proceeds of the redemption by 12 June 2017.  In addition, 
Shareholders will receive a small fixed rate dividend on the B Shares. 
 
   No share certificates will be issued in relation to the B Shares and the 
B Shares will not be listed or traded on the London Stock Exchange or 
any other recognised exchange.  The B Shares will have limited rights, 
including the right to a dividend at a small fixed rate. 
 
   The redemption proceeds should, under current legislation, be taxed as 
capital for UK individual Shareholders.  The apportionment ratio of 
Shareholders' base cost between the B Shares and the Ordinary Shares 
will be published on the Company's website at the earliest practicable 
time following the issue of the B Shares.  Any dividend paid in respect 
of the B Shares, which would be an income payment, will be paid 
separately from the redemption proceeds, either to mandated bank 
accounts or by cheque. 
 
   Further details of the B Share Scheme are contained in the circular 
published by the Company on 21 December 2016, which is available on the 
NVM Private Equity LLP website at www.nvm.co.uk. 
 
   A copy of the above circular has been submitted to the National Storage 
Mechanism and is available for inspection at 
www.morningstar.co.uk/uk/NSM 
 
   Expected timetable 
 
 
 
 
Record date for entitlement to B Shares in connection         6.00pm on 26 May 
 with the proposed return of capital                                      2017 
Ordinary Shares trade ex entitlement to the B Share                30 May 2017 
 entitlement and the associated B Share dividend 
Issue of B Shares in connection with the return of            8.00am on 30 May 
 capital                                                                  2017 
Record date for the B Share dividend                          6.00pm on 30 May 
                                                                          2017 
Redemption of B Shares                                        6.30pm on 5 June 
                                                                          2017 
Settlement of the capital payments linked to the redemption       12 June 2017 
 of the B Shares into CREST and by cheque 
Income payment of the B Share dividend to mandated                16 June 2017 
 bank accounts or by cheque 
 
 
   Unless otherwise defined, capitalised terms used in this announcement 
have the same meaning as those defined in the circular published by the 
Company on 21 December 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 Corporate Solutions on behalf 
of Nasdaq 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 
 
 
  http://www.nvm.co.uk/investorarea/northern_investors_company_plc.php 
 

(END) Dow Jones Newswires

May 19, 2017 08:00 ET (12:00 GMT)

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