Northern Inv. Co PLC Net Asset Value(s)

 
TIDMNRI 
 
 
   14 FEBRUARY 2018 
 
   NORTHERN INVESTORS COMPANY PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2017 
 
   Northern Investors Company PLC ("the Company") is a private equity 
investment trust managed by NVM Private Equity LLP.  The Company was 
launched in 1984 and has been listed on the London Stock Exchange since 
1990.  In July 2011 shareholders approved a change in investment 
strategy whereby the Company ceased making new investments and began an 
orderly realisation of its portfolio with a view to returning capital to 
shareholders.  The Company has subsequently returned a total of GBP90.7 
million to shareholders by way of tender offers, redemptions of B shares 
and dividend distributions. 
 
   The unaudited net asset value per ordinary share as at 31 December 2017 
was 237.1 pence (30 September 2017 (unaudited) 233.4 pence). 
 
   For the purposes of calculating the net asset value per share, unquoted 
investments are carried at fair value as at 31 December 2017 as 
determined by the directors. 
 
   Net assets at 31 December 2017 comprised the following: 
 
 
 
 
                                                                   % of 
                                                      GBP000     net assets 
Unquoted investments at fair value as determined 
 by the directors                                        5,906         99.8 
Net current assets/(liabilities): 
 Cash and near-cash balances                             1,876         31.7 
 Provision for performance-related management fee      (1,743)       (29.4) 
 Other debtors less creditors                            (120)        (2.1) 
                                                    ----------     -------- 
Net assets                                               5,919        100.0 
                                                    ----------     -------- 
 
 
   The number of ordinary shares in issue at 31 December 2017 was 2,496,767 
(30 September 2017 2,496,767). 
 
   On 8 February 2018 the company sold its holding of ordinary shares in 
S&P Coil Products Limited to a management buy-out vehicle.  No 
consideration was payable on completion, but deferred proceeds of up to 
GBP136,000 may become payable subject to future performance.  The 
original cost of the investment was GBP66,000 and the investment was 
carried at a directors' valuation of nil in the unaudited financial 
statements as at 31 December 2017.  Any future deferred proceeds 
received will be recognised in the Company's financial statements at the 
time of receipt. 
 
   At 31 December 2017 there was a contingent asset of GBP177,000 not 
recognised in the company's financial statements in respect of potential 
deferred proceeds from sales of investee companies which occurred prior 
to that date, not including the subsequent sale of S&P Coil Products 
referred to above.  The extent to which these proceeds will be received 
in due course, if at all, is dependent on future events. 
 
   Enquiries: 
 
   Northern Investors Company PLC 
 
   Nigel Guy/Christopher Mellor 
0191 244 6000 
 
   Stifel Nicolaus Europe 
 
   Neil Winward/Mark Bloomfield/Gaudi le Roux                  020 7710 
7600 
 
   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 Corporate Solutions on behalf 
of Nasdaq 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 Investors Co PLC via Globenewswire 
 
 
  http://www.nvm.co.uk/investorarea/northern_investors_company_plc.php 
 

(END) Dow Jones Newswires

February 14, 2018 04:01 ET (09:01 GMT)

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