Northern 3 VCT plc Net Asset Value
July 20 2021 - 10:00AM
UK Regulatory
TIDMNTN
20 JULY 2021
NORTHERN 3 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2021
Northern 3 VCT PLC ("the Company") is a Venture Capital Trust
("VCT") launched in 2001 and managed 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 30 June
2021 was 109.1 pence (31 March 2021 (audited) 107.0 pence).
For the purposes of calculating the net asset value per share,
quoted investments are carried at bid price as at 30 June 2021 and
unquoted investments are carried at fair value as at 30 June 2021
as determined by the directors. The net asset value is stated
before deducting the second interim (special) dividend of 4.5 pence
per share and the proposed final dividend of 2.5 pence per share in
respect of the year ended 31 March 2021, which will, subject to
approval by shareholders at the annual general meeting on 19 August
2021, be paid to eligible shareholders on 27 August 2021.
New investments:
During the three months ended 30 June 2021 one new venture
capital investment was completed.
Amount
invested
Name of company Business activity GBP000
----------------------------- ------------------------------------ ---------
Artificial intelligence enabled
Naitive Technologies Limited medical diagnostics 721
In addition to the new investment above, a total of GBP1,565,000
was invested in five existing portfolio companies during the
quarter.
Realisations:
Carrying value at
Name of company Sale proceeds Original cost 31 March 2021
--------------------------- -------------- -------------- -----------------
GBP000 GBP000 GBP000
musicMagpie (partial
realisation) 7,947 1,159 7,947
Soda Software Labs 1,249 1,464 1,537
Avid Technology 357 1,670 411
The number of ordinary shares in issue at 30 June 2021 was
109,840,118. During the three months ended 30 June 2021 no shares
were allotted and no shares were purchased for cancellation during
the period.
Enquiries:
Simon John/James Bryce, NVM Private Equity LLP -- 0191 244
6000
Martin Glanfield, Chief Financial Officer, Mercia Asset
Management PLC -- 0330 223 1430
Website:
https://www.globenewswire.com/Tracker?data=s2pMEQuKwPKurh5J60qusL4WKgSkp-Wk2rG0WHtYkjvW4_iyOKEefPlkNzKoHvG8tlhOAzfkNBqTCdnzx0g2Sw==
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
July 20, 2021 11:00 ET (15:00 GMT)
Copyright (c) 2021 Dow Jones & Company, Inc.
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