Northern AIM VCT announces share top-up

Northern AIM VCT, the AIM venture capital trust managed by Northern Venture Managers, has announced that it is seeking to raise up to £10m by way of a series of 10% top up share offers. New ordinary shares will be issued initially at a price of 70p per share, with the offer price being reviewed periodically to reflect movements in the underlying net asset value (NAV) of the trust. The unaudited NAV at 31 December 2004 was 65.6p per share. The additional capital will enable Northern AIM VCT to take advantage of the buoyant new issue market on AIM and the strong flow of new unquoted investment opportunities from NVM's offices in Newcastle upon Tyne, Edinburgh and Reading. Investors will be eligible for the new 40% up-front income tax relief, introduced in the 2004 Finance Act, on their subscriptions.

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• UK / Ireland