Northern Venture Tst Net Asset Value(s)
July 20 2016 - 4:01AM
UK Regulatory
TIDMNVT
20 JULY 2016
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2016
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 2016 was
73.0 pence (31 March 2016 (unaudited) 82.9 pence). The net asset value
is stated after deducting the first and second interim dividends
totalling 10.0 pence per share in respect of the year ending 30
September 2016, which were paid to eligible shareholders on 30 June
2016.
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 June 2016 and unquoted
investments are carried at fair value as at 30 June 2016 as determined
by the directors.
During the three months ended 30 June 2016 the following significant
venture capital portfolio transactions took place:
New investments:
Amount
invested
Name of company Business activity GBP000
Myparceldelivery Holdings Parcel delivery comparison website 905
Lending Works Peer-to-peer lending platform 722
On 4 July 2016 the Company completed a new investment of GBP715,000 in
Avid Technology Group, which specialises in the electrification and
intelligent control of engine ancillaries, thermal management systems
and hybrid systems.
Realisations:
Sale Original Carrying value at
Name of company proceeds cost 31 March 2016
GBP000 GBP000 GBP000
Silverwing 3,069 1,774 2,722
The number of ordinary shares in issue at 30 June 2016 was 96,565,979.
During the three months ended 30 June 2016 2,606,159 new shares were
issued at a price of 72.9 pence per share pursuant to the Company's
dividend investment scheme and no shares were re-purchased for
cancellation.
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 OMX Corporate Solutions on
behalf of NASDAQ OMX 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
HUG#2029608
(END) Dow Jones Newswires
July 20, 2016 05:01 ET (09:01 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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