Annual Financial Report, notice of 2013 AGM, pr...

31 MAY 2013

NORTHERN 3 VCT PLC

ANNUAL REPORT AND FINANCIAL STATEMENTS, NOTICE OF 2013 ANNUAL GENERAL MEETING, PROPOSED SHARE ISSUE AND EXTENSION OF THE LIFE OF THE COMPANY

Copies of the annual report and financial statements of Northern 3 VCT PLC ("the Company") for the year ended 31 March 2013 ("the Annual Report") and a circular to shareholders including the notice of the 2013 Annual General Meeting to be held on 17 July 2013 ("the Circular") have been submitted to the National Storage Mechanism and will shortly be available for inspection at: www.Hemscott.com/nsm.do.

Copies of the Annual Report and the Circular are also available on the NVM Private Equity website at www.nvm.co.uk/n3vctagm2013.

The 2013 Annual General Meeting will consider resolutions to facilitate a proposed share issue to raise up to approximately £20 million (before expenses) and to amend the Company's articles of association to extend the life of the Company.

Share issue to raise up to £20 million

The Company has today announced its intention, in conjunction with Northern Venture Trust PLC ("NVT") and Northern 2 VCT PLC ("N2VCT"), to launch a joint prospectus offer of new ordinary shares for subscription in the 2013/14 and 2014/15 tax years ("the Offer").  It is envisaged that the Company will seek to raise a total of up to approximately £20 million under the Offer.

The new shares will be issued at a premium to the latest published net asset value per share prior to the relevant allotment date to allow for issue costs and to avoid any dilution in the net asset value attributable to each existing share when the new shares are issued.

Further details of the Offer will be contained in the prospectus which is expected to be issued in July 2013.

Extension of the life of the Company

The Company's articles of association presently require that a resolution for the continuation of the Company be put to the annual general meeting of the Company held in 2015 and, unless defeated, at five-yearly intervals thereafter.  The proposed amendment to the Company's articles of association requires the continuation resolution to be considered at the annual general meeting of the Company expected to be held in July 2019 and every five years thereafter.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website:  www.nvm.co.uk

Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.

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information contained therein.

Source: Northern 3 VCT PLC via Thomson Reuters ONE

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