Northern 3 VCT PLC.
30 JULY 2009
NORTHERN 3 VCT PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 JUNE 2009
Northern 3 VCT PLC presents its interim management statement for the
three months ended 30 June 2009. This constitutes the company's
first interim management statement for the financial year ending 31
March 2010, as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3. This statement has been prepared solely to
provide additional information in order to meet the requirements of
the Disclosure and Transparency Rules and should not be relied on by
shareholders, or any other party, for any other purpose.
The unaudited net asset value per ordinary share as at 30 June 2009
was 86.4p (31 March 2009 (audited) 84.0p). The net asset value is
stated before deducting the final dividend of 2.0p per share in
respect of the year ended 31 March 2009, which was approved by
shareholders at the annual general meeting on 2 July 2009 and was
paid to eligible shareholders on 10 July 2009.
The number of ordinary shares in issue at 30 June 2009 was
28,939,039. During the three months ended 30 June 2009 no new
ordinary shares were issued and no shares were re-purchased by the
company for cancellation. On 3 July 2009 the company purchased for
cancellation 84,509 ordinary shares at a price of 48.25p per share.
On 10 July 2009 the company allotted 85,757 new ordinary shares at a
price of 82.0p per share in connection with the company's dividend
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 June 2009 and unquoted
investments are carried at fair value as at 30 June 2009 as
determined by the directors.
During the three months ended 30 June 2009 there were no significant
investment transactions. On 15 July 2009 the company sold its
investment in Liquidlogic Limited, an unquoted provider of software
solutions to public sector clients, for cash proceeds of GBP358,000.
The book cost of the investment was GBP49,000 and its carrying value at
30 June 2009 was GBP358,000. The company may become entitled to
receive additional proceeds depending on the trading performance of
Liquidlogic Limited in the financial year ending 31 March 2010.
The directors are not aware of any other events or transactions which
have taken place between 31 March 2009 and the date of publication of
this statement and which have had a material effect on the financial
position of the company.
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191
=--END OF MESSAGE---
This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
(END) Dow Jones Newswires
July 30, 2009 10:32 ET (14:32 GMT)