Northern Venture Tst Net Asset Value

 
TIDMNVT 
 
 
   25 MARCH 2020 
 
   NORTHERN VENTURE TRUST PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 24 MARCH 2020 
 
   The Board of Northern Venture Trust PLC (the "Company") has been 
monitoring the ongoing disruption being caused by COVID-19 and, in 
particular, its current and potential impact on portfolio companies.  In 
light of this, the Board announces that the unaudited net asset value 
per ordinary share as at 24 March 2020 was 54.6 pence (31 December 2019 
(unaudited) 67.9 pence). 
 
   For the purposes of calculating the unaudited net asset value per share, 
quoted investments are carried at bid price as at 24 March 2020 and 
unquoted investments are carried at fair value as at 24 March 2020 as 
determined by the directors, as advised by the Company's investment 
adviser, Mercia Fund Management Limited. 
 
   The number of ordinary shares in issue at 24 March 2020 was 138,374,674. 
 
   In relation to the offer for new shares pursuant to the prospectus dated 
9 January 2020, the Company intends to allot Offer Shares on or around 2 
April 2020.  Subject to FCA approval, the Company intends shortly to 
publish a supplementary prospectus reflecting the fact that the 
publication of the updated unaudited NAV as at 24 March 2020 reflects a 
significant new factor for consideration by prospective investors. Upon 
the FCA approving the supplementary prospectus, investors who have 
already submitted application forms for Offer Shares will have a period 
of 48 hours in which they may withdraw such applications, should they 
wish to do so, under section 87Q(4)--(6) of FSMA. Further details of 
this right, including the deadline for withdrawal, will be contained in 
the supplementary prospectus, which will be available at 
https://nvm.co.uk/investor-area/vcts/. 
 
   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

March 25, 2020 10:45 ET (14:45 GMT)

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