Northern Inv. Co PLC Tender Offer And Notice Of General Meeting
08 Mars 2016 - 11:05AM
UK Regulatory
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)
Copyright (c) 2016 Dow Jones & Company, Inc.
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