Northern 2 VCT PLC Net Asset Value

 
TIDMNTV 
 
 
   31 JULY 2020 
 
   NORTHERN 2 VCT PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2020 
 
   Northern 2 VCT PLC ("the Company") is a Venture Capital Trust ("VCT") 
launched in 1999 and managed by Mercia Fund Management Limited.  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 2020 was 
55.0 pence (31 March 2020 (audited) 53.5 pence). The net asset value is 
stated before deducting the proposed final dividend of 1.5 pence per 
share in respect of the year ended 31 March 2020, which will, subject to 
approval by shareholders at the annual general meeting on 26 August 
2020, be paid to eligible shareholders on 4 September 2020. 
 
   For the purposes of calculating the net asset value per share, quoted 
investments are carried at bid price as at 30 June 2020 and unquoted 
investments are carried at fair value as at 30 June 2020 as determined 
by the directors. 
 
   New Investments: 
 
   During the three months ended 30 June 2020 one new venture capital 
investment was completed. 
 
 
 
 
                                                                      Amount 
                                                                      invested 
 Name of company    Business activity                                  GBP000 
-----------------  ------------------------------------------------  --------- 
                   Human and digital workforce management SaaS 
Enate Limited       solution                                               720 
 
 
   In addition to the new investment above GBP351,000 was invested in two 
existing portfolio companies during the quarter. 
 
   Realisations: 
 
   There are no significant realisations to report for the period. 
 
   The number of ordinary shares in issue at 30 June 2020 was 163,040,699. 
During the three months ended 30 June 2020 24,444,699 shares were 
allotted at an average price of 51.2 pence per share. No shares were 
purchased for cancellation during the period. 
 
   Enquiries: 
 
   Simon John/James Bryce, NVM Private Equity LLP -- 0191 244 6000 
 
   Website:  www.nvm.co.uk 
 
   Martin Glanfield, Chief Financial Officer, Mercia Asset Management PLC 
-- 0330 223 1430 
 
   Website: www.mercia.co.uk 
 
   Neither the contents of the NVM Private Equity LLP or the Mercia Asset 
Management PLC website,  nor the contents of any website accessible from 
hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC 
website (or any other website), are incorporated into, or forms part of, 
this announcement. 
 
 
 
 

(END) Dow Jones Newswires

July 31, 2020 09:30 ET (13:30 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.