REG - Develop North PLC - Non-material change to investment policy

Develop NorthAnnouncement

17/10/2025 15:45

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RNS Number : 8976D  Develop North PLC  17 October 2025

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This announcement does not constitute, and may not be construed as, an offer
to sell or an invitation or recommendation to purchase, sell or subscribe for
any securities or investments of any description, or a recommendation
regarding the issue or the provision of investment advice by any party.

17 October 2025

DEVELOP NORTH PLC

(the "Company" or "DVNO")

Non-material change to investment policy

 

The Company announces that with immediate effect, the investment policy will
be amended to limit the Company's borrowings to a maximum of 35% (currently
30%) of the Net Asset Value at the time of drawdown.

The full text of the revised investment policy is available at
https://developnorth.co.uk/downloads-and-documents/
(https://developnorth.co.uk/downloads-and-documents/)

This change to the policy is not considered material and as such it does not
require prior approval by the FCA and Shareholders.

The proposed changes to the investment policy, subject to approval of
Shareholders and other matters set out in the announcement made by the Company
on 9 July 2025 are not affected by this announcement and further information
regarding those matters will be announced in due course.

Enquiries:

 Develop North PLC                                                           +44 (0) 191 222 0099
 Ian McElroy

Fergus Trim

Brendan O'Grady
 Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker)  +44 (0) 207 220 0500
 Robert Peel

Andrew Worne

Hamish Kennett
 Alma Strategic Communications (Financial Communications Adviser)            +44 (0) 203 405 0211
 Andrew Jaques

Josh Royston

Joe Pederzolli

Louisa El-Ahwal

 

Notes to Editors:

Develop North PLC's investment objective is to provide shareholders with a
consistent and stable income and the potential for an attractive total return
over the medium to long term, through a diversified portfolio of investments
predominantly in the North East of England.

 The Company has the financial strength, credibility and professionalism
expected of a business listed on the London Stock Exchange, while also
offering the flexibility, creativity and common sense of an approachable,
local business.

Since the Company's IPO in 2017, it has invested almost £90 million of
capital into the North of England and Scotland and has helped create over
12,000 jobs with a gross development value of over £289 million.

 

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