Northern 2 VCT PLC.
9 DECEMBER 2014
NORTHERN 2 VCT PLC
On 3 December 2013 Northern 2 VCT PLC ("Northern 2 VCT") announced the sale of its investment in Alaric Systems Limited, which provides payment processing and fraud prevention software, to a subsidiary of NCR Corporation.
The announcement stated that Northern 2 VCT could become entitled to receive further sale proceeds of up to £0.70 million over the period to December 2017, to be recognised in the financial statements as and when received.
Northern 2 VCT is now pleased to announce the receipt of an initial tranche of additional sale proceeds amounting to £0.35 million, equivalent to approximately 0.4 pence per Northern 2 VCT ordinary share, which was not recognised in the unaudited half-yearly financial statements for the six months ended 30 September 2014 which were published on 11 November 2014. The company may become entitled to receive the residual further proceeds of up to £0.35 million over the period to December 2017 but this contingent asset has not yet been recognised in the financial statements.
For further information, please contact:
NVM Private Equity Limited
Alastair Conn/Christopher Mellor 0191 244 6000
Neither the contents of the NVM Private Equity Limited website, www.nvm.co.uk, 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.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Northern 2 VCT PLC via Globenewswire