Northern Investors Company PLC.
Net Asset Value(s)
25 JULY 2016
NORTHERN INVESTORS COMPANY PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2016
Northern Investors Company PLC ("the Company") is a private equity investment trust managed by NVM Private Equity LLP. The Company was launched in 1984 and has been listed on the London Stock Exchange since 1990. In July 2011 shareholders approved a change in investment strategy whereby the Company ceased making new investments and began an orderly realisation of its portfolio with a view to returning capital to shareholders. The Company has subsequently returned a total of £77.3 million to shareholders by way of tender offers and dividend distributions.
The Company announces that the unaudited net asset value per share as at 30 June 2016 was 660.2 pence (31 March 2016 (audited) 685.4 pence). The net asset value is stated before deducting the final dividend of 24.0 pence per share in respect of the year ended 31 March 2016, which was approved by shareholders at the annual general meeting on 5 July 2016 and was paid on 22 July 2016.
The number of ordinary shares in issue at 30 June 2016 was 2,496,767 (31 March 2016 2,496,767). No shares were allotted or re-purchased during the three months ended 30 June 2016.
For the purposes of calculating the net asset value per share, unquoted investments are carried at fair value as at 30 June 2016 as determined by the directors.
Net assets at 30 June 2016 comprised the following:
|Unquoted investments at fair value as determined|
|by the directors||11,145||67.6|
|Net current assets/(liabilities):|
|Cash and near-cash balances||7,637||46.3|
|Provision for performance-related management fee||(2,168)||(13.1)|
|Other debtors less creditors||(130)||(0.8)|
No investments were acquired or sold during the three months ended 30 June 2016.
Northern Investors Company PLC
Nigel Guy/Christopher Mellor 0191 244 6000
Stifel Nicolaus Europe
Neil Winward/Mark Bloomfield/Gaudi le Roux 020 7710 7600
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 Investors Co PLC via Globenewswire