Northern Investors Company PLC.
15 MARCH 2017
NORTHERN INVESTORS COMPANY PLC
Northern Investors Company PLC ("Northern Investors") announces the sale of its investment in Cawood Scientific ("Cawood"), the UK's largest independent provider of analytical laboratory testing services for land-based industries, through a secondary management buy-out transaction supported by funds advised by Inflexion Private Equity.
Northern Investors has received cash proceeds of £3.23 million for its holding of ordinary shares and loan stock in Cawood. The directors' valuation of the investment in Cawood for the purposes of calculating the unaudited net asset value as at 31 December 2016, which was announced on 15 February 2017, was £3.01 million. The uplift in Northern Investors' net assets resulting from the realisation is therefore £0.22 million, equivalent to approximately 8.8 pence per share based on the 2,496,767 shares currently in issue.
In accordance with Northern Investors' policy of realising its investment portfolio and returning funds to shareholders, the directors will make an announcement in due course setting out proposals for a further cash distribution.
For further information, please contact:
Northern Investors Company PLC
Nigel Guy/Christopher Mellor 0191 244 6000
Stifel Nicolaus Europe Limited
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