Northern 3 VCT PLC.
Interim Management Statement
25 JANUARY 2012
NORTHERN 3 VCT PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2011
Northern 3 VCT PLC presents its interim management statement for the three months ended 31 December 2011. This constitutes the company's second interim management statement for the financial year ending 31 March 2012, as required by the UK Listing Authority's Disclosure Rules and Transparency Rules, Rule 4.3.
The company's objective is to provide high long-term tax-free returns to investors through a combination of dividend yield and capital growth, by investing in a portfolio of investments mainly comprising unquoted venture capital holdings. The company is a venture capital trust approved by HM Revenue & Customs and is required to comply on a continuing basis with the provisions of Section 274 of the Income Tax Act 2007.
The unaudited net asset value per ordinary share as at 31 December 2011 was 95.5p (30 September 2011 93.4p). The net asset value is stated before deducting the interim dividend of 2.0p per share declared in respect of the year ending 31 March 2012, which was paid to eligible shareholders on 13 January 2012.
The number of ordinary shares in issue at 31 December 2011 was 46,025,261. During the three months ended 31 December 2011 no new ordinary shares were issued and 230,000 shares were re-purchased by the company for cancellation at a cost of 79.4p per share.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2011 and unquoted investments are carried at fair value as at 31 December 2011 as determined by the directors.
During the three months ended 31 December 2011 the following significant investment transactions took place:
Name of company
|Lineup Systems Limited||Advertising media solutions and services||974|
|Mantis Deposition Holdings Limited*||Deposition systems for thin film coating||99|
*Additional investment in existing portfolio company
The directors are not aware of any other events or transactions which have taken place between 30 September 2011 and the date of publication of this statement and which have had a material effect on the financial position of the company.
This statement has been prepared solely to provide additional information in order to meet the requirements of the Disclosure Rules and Transparency Rules and should not be relied on by shareholders, or any other party, for any other purpose.
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
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(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Northern 3 VCT PLC via Thomson Reuters ONE