Northern 3 VCT PLC.
Net Asset Value(s)
20 JULY 2016
NORTHERN 3 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2016
Northern 3 VCT PLC ("the Company") is a Venture Capital Trust ("VCT") launched in 2001 and managed by NVM Private Equity LLP. 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. In order to maintain approval by HM Revenue & Customs as a VCT, the Company 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 30 June 2016 was 105.0 pence (31 March 2016 (audited) 102.2 pence). The net asset value is stated before deducting the second interim and final dividends totalling 8.5 pence per share in respect of the year ended 31 March 2016, which were paid to eligible shareholders on 15 July 2016.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2016 and unquoted investments are carried at fair value as at 30 June 2016 as determined by the directors.
During the three months ended 30 June 2016 the following significant venture capital portfolio transactions took place:
Name of company
|Myparceldelivery Holdings||Parcel delivery comparison website||761|
|Lending Works||Peer-to-peer lending platform||608|
On 4 July 2016 the Company completed a new investment of £632,000 in Avid Technology Group, which specialises in the electrification and intelligent control of engine ancillaries, thermal management systems and hybrid systems.
|Sale||Original||Carrying value at|
|Name of company||proceeds||cost||31 March 2016|
The number of ordinary shares in issue at 30 June 2016 was 65,203,399. During the three months ended 30 June 2016 no new shares were allotted and 330,000 shares were re-purchased for cancellation at an average price of 93.8 pence per share.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
Neither the contents of the NVM Private Equity LLP website nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP 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 3 VCT PLC via Globenewswire