Northern Venture Trust PLC.
Interim Management Statement
27 JANUARY 2012
NORTHERN VENTURE TRUST PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2011
Northern Venture Trust PLC presents its interim management statement for the three months ended 31 December 2011. This constitutes the company's first interim management statement for the financial year ending 30 September 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 85.8p (30 September 2011 (audited) 87.8p). The net asset value is stated after deducting the final dividend of 3.0p per share in respect of the year ended 30 September 2011, which was approved by shareholders at the annual general meeting on 14 December 2011 and was paid to eligible shareholders on 16 December 2011.
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.
The number of ordinary shares in issue at 31 December 2011 was 71,588,388. During the three months ended 31 December 2011 310,008 new ordinary shares were issued at a price of 84.8p per share pursuant to the company's dividend investment scheme and no shares were re-purchased by the company for cancellation.
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||134|
*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
Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Northern Venture Trust PLC via Thomson Reuters ONE