Northern Venture Tst Net Asset Value(s)

 
TIDMNVT 
 
 
   24 JULY 2017 
 
   NORTHERN VENTURE TRUST PLC 
 
   UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2017 
 
   Northern Venture Trust PLC ("the Company") is a Venture Capital Trust 
("VCT") launched in 1995 and advised 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 2017 was 
70.8 pence (31 March 2017 (unaudited) 79.1 pence).  The net asset value 
is stated after deducting the first and second interim dividends 
totalling 8.0 pence per share in respect of the year ending 30 September 
2017, which were paid to eligible shareholders on 30 June 2017. 
 
   For the purposes of calculating the net asset value 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                                         103 
 
 
   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 GBP519,000 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                 859       859                215 
Gear4music (Holdings) plc (AIM quoted) 
 - market sale                                250        50                192 
 
 
   The number of ordinary shares in issue at 30 June 2017 was 105,026,156. 
During the three months ended 30 June 2017 5,409,557 new shares were 
issued at an average price of 79.4 pence per share pursuant to a top-up 
share offer and 2,406,904 new shares were issued at a price of 71.1 
pence per share pursuant to the Company's dividend investment scheme. 
No shares were re-purchased for cancellation during the period. 
 
   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 Venture Trust PLC via Globenewswire 
 
 
 
 

(END) Dow Jones Newswires

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

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