Northern Venture Tst Net Asset Value(s)

 
TIDMNVT 
 
 
   17 FEBRUARY 2020 
 
   NORTHERN VENTURE TRUST PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2019 
 
   Northern Venture Trust PLC ("the Company") is a Venture Capital Trust 
("VCT") launched in 1995 and advised 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 31 December 2019 
was 67.9 pence (30 September 2019 (audited) 68.9 pence).  The net asset 
value is stated after deducting the final dividend of 2.0 pence per 
share in respect of the year ended 30 September 2019, which was paid to 
eligible shareholders on 20 December 2019. 
 
   For the purposes of calculating the net asset value per share, quoted 
investments are carried at bid price as at 31 December 2019 and unquoted 
investments are carried at fair value as at 31 December 2019 as 
determined by the directors. 
 
   New Investments: 
 
   During the three months ended 31 December 2019 one new venture capital 
investment was completed. 
 
 
 
 
                                                  Amount 
                                                  invested 
 Name of company    Business activity              GBP000 
-----------------  ----------------------------  --------- 
                   Online platform for private 
Tutora Limited      tutors                           1,131 
 
 
   In addition to the new investment above GBP2,629,000 was invested in 
five existing portfolio companies during the quarter. 
 
   Realisations: 
 
   Three realisations took place during the quarter; the entire holding in 
the AIM quoted Brady PLC was divested following an agreed takeover bid, 
resulting in sales proceeds of GBP100,000. A portion of the shares held 
in the AIM quoted Ideagen PLC were sold following recent positive share 
price movements, for proceeds of GBP117,000. Agilitas IT Holdings made a 
further scheduled loan note repayment of GBP359,000. 
 
   The number of ordinary shares in issue at 31 December 2019 was 
139,074,674.  During the three months ended 31 December 2019 797,062 
shares were allotted at an average price of 66.9 pence per share and 
496,000 shares were re-purchased for cancellation at an average price of 
63.6 pence per share. 
 
   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

February 17, 2020 10:00 ET (15:00 GMT)

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