Northern Venture Tst Net Asset Value(s)

 
TIDMNVT 
 
 
   20 JULY 2016 
 
   NORTHERN VENTURE TRUST PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2016 
 
   Northern Venture Trust PLC ("the Company") is a Venture Capital Trust 
("VCT") launched in 1995 and advised 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 
73.0 pence (31 March 2016 (unaudited) 82.9 pence).  The net asset value 
is stated after deducting the first and second interim dividends 
totalling 10.0 pence per share in respect of the year ending 30 
September 2016, which were paid to eligible shareholders on 30 June 
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: 
 
   New investments: 
 
 
 
 
                                                                  Amount 
                                                                  invested 
 Name of company             Business activity                     GBP000 
Myparceldelivery Holdings   Parcel delivery comparison website         905 
Lending Works               Peer-to-peer lending platform              722 
 
 
   On 4 July 2016 the Company completed a new investment of GBP715,000 in 
Avid Technology Group, which specialises in the electrification and 
intelligent control of engine ancillaries, thermal management systems 
and hybrid systems. 
 
   Realisations: 
 
 
 
 
                    Sale     Original  Carrying value at 
Name of company    proceeds    cost      31 March 2016 
                   GBP000     GBP000        GBP000 
Silverwing            3,069     1,774              2,722 
 
 
   The number of ordinary shares in issue at 30 June 2016 was 96,565,979. 
During the three months ended 30 June 2016 2,606,159 new shares were 
issued at a price of 72.9 pence per share pursuant to the Company's 
dividend investment scheme and no shares were re-purchased for 
cancellation. 
 
   Enquiries: 
 
   Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000 
 
   Website:  www.nvm.co.uk 
 
   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. 
 
   This announcement is distributed by NASDAQ OMX Corporate Solutions on 
behalf of NASDAQ OMX Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Northern Venture Trust PLC via Globenewswire 
 
   HUG#2029608 
 
 
 
 

(END) Dow Jones Newswires

July 20, 2016 05:01 ET (09:01 GMT)

Copyright (c) 2016 Dow Jones & Company, Inc.