Northern 3 VCT plc Net Asset Value

 
TIDMNTN 
 
 
   17 JULY 2018 
 
   NORTHERN 3 VCT PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2018 
 
   Northern 3 VCT PLC ("the Company") is a Venture Capital Trust ("VCT") 
launched in 2001 and managed 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 2018 was 
95.5 pence (31 March 2018 (audited) 94.0 pence).  The net asset value is 
stated before deducting the final dividend of 3.5 pence per share in 
respect of the year ended 31 March 2018, which will be paid to eligible 
shareholders on 20 July 2018. 
 
   For the purposes of calculating the net asset value per share, quoted 
investments are carried at bid price as at 30 June 2018 and unquoted 
investments are carried at fair value as at 30 June 2018 as determined 
by the directors. 
 
   During the three months ended 30 June 2018 the following venture capital 
portfolio transactions took place: 
 
   New investments: 
 
 
 
 
                                                                                 Amount 
                                                                                 invested 
 Name of company    Business activity                                             GBP000 
-----------------  -----------------------------------------------------------  --------- 
Ablatus 
 Therapeutics      Development of medical devices to treat cancerous 
 Limited            tumours                                                           318 
                   Software solution to automate the preparation of documents 
Clarilis Limited    for the legal sector                                              981 
Newcells Biotech   Development of innovative efficacy and toxicity testing 
 Limited            solutions for the drug discovery sector                           478 
 
 
   Realisations: 
 
 
 
 
                                                                                             Carrying value at 
 Name of company                                         Sale proceeds     Original cost         31 March 2018 
---------------------------------------------------  -----------------  -----------------  ------------------- 
                                                        GBP        000    GBP         000     GBP          000 
Cityfibre Infrastructure Holdings plc (AIM quoted) 
 -- agreed take-over                                               608                496                  311 
 
 
   The number of ordinary shares in issue at 30 June 2018 was 89,542,373. 
During the three months ended 30 June 2018 120,000 shares were 
re-purchased for cancellation at a price of 89.3 pence per share. 
 
   Enquiries: 
 
   Simon John/James Bryce, 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. 
 
 
 
 

(END) Dow Jones Newswires

July 17, 2018 05:30 ET (09:30 GMT)

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