Publication of Prospectus

10 JANUARY 2020



Northern 2 VCT PLC (“the Company”) announces that in conjunction with Northern Venture Trust PLC and Northern 3 VCT PLC (together with the Company known as “the Northern VCTs”), it has published a Prospectus in relation to offers of new ordinary shares for subscription in the 2019/20 tax year (“the Offers”).  The Offers seek to raise a total of £13.3 million in each of the Northern VCTs.

Applications for the new shares in the Company will be dealt with on a “first come first served” basis. However, in recognition of the loyal shareholder following which the Northern VCTs enjoy, investors who are existing shareholders whose applications for shares in the Company are accepted will benefit from a reduction of 0.5% in the offer charges compared to the charges for new shareholders, provided they (or their spouse or civil partner) were on the register of any of the Northern VCTs at 6 December 2019. The Offers will remain open until 1 April 2020, unless fully subscribed at an earlier date and subject to the directors’ right to close the Offers at any time.

Pursuant to the Offers, Mercia Fund Management Limited, the Northern VCTs’ investment manager and promoter, will, in respect of the services provided pursuant to the Offers, receive an amount equal to 4.5% (or 2.5% where no commission is payable) of the aggregate amounts of the subscription monies as received by the Northern VCTs pursuant to the Offers together with an annual commission of 0.2% for five years of the gross funds subscribed under the Offers in respect of which trail commission is payable. These arrangements, as they relate to the Northern VCTs, constitute smaller related party transactions within Listing Rule 11.1.10R.

An investment brochure describing the key features of the Offers and an application form will be posted to registered shareholders as soon as possible and are also available from

A downloadable version of the Prospectus is available from‑area/fundraise2020/.

A copy of the Prospectus is available, free of charge, from the Company’s registered office at Time Central, 32 Gallowgate, Newcastle upon Tyne, NE1 4SN or by calling NVM Private Equity LLP on 0191 244 6000.

In accordance with the Listing Rules, the Prospectus has been submitted to the National Storage Mechanism and will shortly be available for inspection at


Simon John/James Bryce, NVM Private Equity LLP – 0191 244 6000


Martin Glanfield, Chief Financial Officer Mercia Asset Management PLC – 0330 223 1430


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