REG - Develop North PLC - Publication of a Supplementary Prospectus

Develop NorthAnnouncement

24/03/2026 12:30

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RNS Number : 9361X  Develop North PLC  24 March 2026

NOT FOR RELEASE, DISTRIBUTION OR PUBLICATION, DIRECTLY OR INDIRECTLY, IN WHOLE
OR IN PART, IN OR INTO THE UNITED STATES, AUSTRALIA, CANADA, THE REPUBLIC
OF SOUTH AFRICA, JAPAN OR ANY EEA STATE OR ANY OTHER JURISDICTION WHERE TO
DO SO WOULD CONSTITUE A VIOLATION OF THE RELEVANT LAWS OR REGULATIONS OF SUCH
JURISDICTION. PLEASE SEE THE SECTION ENTITLED "DISCLAIMER" TOWARDS THE END OF
THIS ANNOUNCEMENT.

 

24 March 2026

 

DEVELOP NORTH PLC

(the "Company" or "DVNO")

 

Publication of Supplementary Prospectus

The Board of Develop North plc, the North East based investment company,
announces the publication today of a supplementary prospectus (the
"Supplementary Prospectus") dated 24 March 2026. The publication of the
Supplementary Prospectus is a regulatory requirement under the Prospectus
Regulation Rules following the publication of the Company's audited financial
statements for the financial year to 30 November 2025, certain information
from which is incorporated by reference into the Supplementary Prospectus.

The Supplementary Prospectus is supplemental to, and should be read in
conjunction with, the prospectus published by the Company on 16 January 2026
(the "Prospectus").

The Supplementary Prospectus, which has been approved by the FCA, will shortly
be available on the Company's website at   https://wwwdevelopnorth.co.uk. In
addition, a copy of the Supplementary Prospectus will be submitted to the
National Storage Mechanism and will shortly be available for inspection at
https://data.fca.org.uk/#/nsm/nationalstoragemechanism.

Unless otherwise defined, capitalised terms used in this announcement shall
have the same meaning as set out in the Prospectus.

Enquiries:

 Develop North PLC                                                           +44 (0) 191 222 0099
 Michelle Percy

 Ian McElroy
 Tier One Capital Limited (Investment Adviser)                               +44 (0) 191 222 0099
 Brendan O'Grady
 Cavendish Capital Markets Limited (Financial Adviser and Corporate Broker)  +44 (0) 207 220 0500
 Robert Peel

Andrew Worne

Oscar Valeur-Adu
 Alma Strategic Communications (Financial Communications Adviser)            +44 (0) 203 405 0211
 Andrew Jaques

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 support an
estimate 12,000 jobs with a gross development value of more than £280
million.

Disclaimer

This announcement is an advertisement and does not constitute a prospectus and
investors must subscribe for or purchase any shares referred to in this
announcement only on the basis of information contained in the Prospectus and
the Supplementary Prospectus published by the Company and not in reliance on
this announcement.

Copies of the Prospectus and the Supplementary Prospectus may, subject to
certain access restrictions, be obtained from the National Storage Mechanism
at https://data.fca.org.uk/#/nsm/nationalstoragemechanism and on the Company's
website, https://www.developnorth.co.uk. Neither the content of the Company's
website, nor the content on any website accessible from hyperlinks on its
website for any other website, is incorporated into, or forms part of, this
announcement nor should any such content be relied upon in reaching a decision
as to whether or not to acquire, continue to hold, or dispose of, securities
in the Company. This announcement does not constitute, and may not be
construed as, an offer to sell or an invitation to purchase investments of any
description or a recommendation regarding the issue or the provision of
investment advice by any party. No information set out in this announcement is
intended to form the basis of any contract of sale, investment decision or any
decision to purchase shares in the Company. Approval of the Prospectus and the
Supplementary Prospectus by the FCA should not be understood as an endorsement
of the securities that are the subject of the Prospectus and the Supplementary
Prospectus. Potential investors are recommended to read the Prospectus and the
Supplementary Prospectus before making an investment decision in order to
fully understand the potential risks and rewards associated with a decision to
invest in the Company's securities.

The Shares have not been and will not be registered under the U.S. Securities
Act of 1933, as amended (the "U.S. Securities Act") or with any securities
regulatory authority of any state or other jurisdiction of the United States
and the Shares may not be offered or sold in the United States or to, or for
the account or benefit of, U.S. Persons (as defined in Regulation S under the
U.S. Securities Act ("Regulation S")) absent registration or an exemption from
registration under the U.S. Securities Act. Moreover, the Shares have not
been, nor will they be, registered under the applicable securities laws of
Australia, Canada, the Republic of South Africa, Japan or any member state of
the EEA. Further, the Company is not, and will not be, registered under the US
Investment Company Act of 1940, as amended. The Shares of the Company will be
offered and sold outside of the United States to non-U.S. Persons in reliance
on the exemption from the registration requirements of the U.S. Securities Act
provided by Regulation S. Subject to certain exceptions, the Shares may not be
offered or sold in the United States, Australia, Canada, the Republic of South
Africa, Japan or any member state of the EEA, where the Shares are lawfully
marketed) or to, or for the account or benefit of, any national, resident or
citizen of, the United States, Australia, Canada, the Republic of South
Africa, Japan or any member state of the EEA. The Initial Issue, the Share
Issuance Programme and the distribution of this announcement, in certain
jurisdictions may be restricted by law and accordingly persons into whose
possession this announcement is received are required to inform themselves
about and to observe such restrictions.

The distribution of this announcement may be restricted by law in certain
jurisdictions and persons into whose possession any document or other
information referred to herein comes should inform themselves about and
observe any such restriction. Any failure to comply with these restrictions
may constitute a violation of the securities laws of any such jurisdiction.

Cavendish Capital Markets Limited, is authorised and regulated in the United
Kingdom by the FCA, is acting exclusively for the Company and for no-one else
and will not regard any other person (whether or not a recipient of this
announcement, the Prospectus or the Supplementary Prospectus) as its client in
relation to the Initial Issue, the Share Issuance Programme and the other
arrangements referred to in the Prospectus or the Supplementary Prospectus and
will not be responsible to anyone other than the Company for providing the
protections afforded to its clients, nor for providing advice in connection
with the Initial Issue, the Share Issuance Programme, any Admission, the
contents of the Prospectus or the Supplementary Prospectus, or any transaction
or arrangement referred to in this announcement, the Prospectus or the
Supplementary Prospectus.

The value of Shares and the income from them is not guaranteed and can fall as
well as rise due to stock market and currency movements.  When you sell your
investment you may get back less than you originally invested. Figures refer
to past performance and past performance is not a reliable indicator of future
results. Returns may increase or decrease as a result of currency
fluctuations.

The information in this announcement is for background purposes only and does
not purport to be full or complete. None of Cavendish Capital Markets Limited
or any of its affiliates, accepts any responsibility or liability whatsoever
for, or makes any representation or warranty, express or implied, as to this
announcement, including the truth, accuracy or completeness of the information
in this announcement (or whether any information has been omitted from the
announcement) or any other information relating to the Company or associated
companies, whether written, oral or in a visual or electronic form, and
howsoever transmitted or made available or for any loss howsoever arising from
any use of the announcement or its contents or otherwise arising in connection
therewith. Each of Cavendish Capital Markest Limited and its affiliates,
accordingly disclaim all and any liability whether arising in tort, contract
or otherwise which they might otherwise be found to have in respect of this
announcement or its contents or otherwise arising in connection therewith.

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