Northern 2 VCT PLC Net Asset Value(s)

 
TIDMNTV 
 
 
   24 JULY 2017 
 
   NORTHERN 2 VCT PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2017 
 
   Northern 2 VCT PLC ("the Company") is a Venture Capital Trust ("VCT") 
launched in 1999 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 (NAV) per ordinary share as at 30 June 
2017 was 76.4 pence (31 March 2017 (audited) 76.6 pence).  The NAV is 
stated before deducting the second interim and final dividends totalling 
8.5 pence per share in respect of the year ended 31 March 2017, which 
were paid to eligible shareholders on 21 July 2017. 
 
   For the purposes of calculating the NAV per share, quoted investments 
are carried at bid price as at 30 June 2017 and unquoted investments are 
carried at fair value as at 30 June 2017 as determined by the directors. 
 
   During the three months ended 30 June 2017 the following venture capital 
portfolio transactions took place: 
 
   New investments: 
 
 
 
 
                                                                          Amount 
                                                                          invested 
 Name of company    Business activity                                      GBP000 
Velocity 
 Composites (AIM   Supplier of advanced composite material kits to the 
 quoted)            aerospace industry                                          97 
 
 
   Subsequent to 30 June 2017 the Company has completed new investments of 
GBP1,048,000 in Knowledgemotion, an aggregator and distributor of 
educational video materials, and GBP489,000 in Contego Fraud Solutions, 
a developer of identity verification software and solutions. 
 
   Realisations: 
 
 
 
 
                                          Sale     Original  Carrying value at 
Name of company                          proceeds    cost      31 March 2017 
                                         GBP000     GBP000        GBP000 
Optilan Group - sale of company             2,196     1,000              2,196 
Kirton - loan stock repayment                 774       774                774 
Gear4music (Holdings) plc (AIM quoted) 
 - market sale                                234        47                179 
 
 
   The number of ordinary shares in issue at 30 June 2017 was 99,131,060. 
During the three months ended 30 June 2017 5,570,393 new shares were 
allotted at an average price of 77.1 pence per share pursuant to a 
top-up share offer.  No shares were re-purchased for cancellation during 
the period. 
 
   On 21 July 2017 2,269,295 new shares were allotted at a price of 68.1 
pence per share pursuant to the Company's dividend investment scheme. 
 
   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 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 2 VCT PLC via Globenewswire 
 
 
  http://www.nvm.co.uk/investorarea/northern_2_vct_plc.php 
 

(END) Dow Jones Newswires

July 24, 2017 07:00 ET (11:00 GMT)

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