Announcements

Northern 2 VCT PLC.


RNS Number : 1048V
Northern 2 VCT PLC
22 May 2008

22 MAY 2008
NORTHERN 2 VCT PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 APRIL 2008

Northern 2 VCT PLC presents its interim management statement for the quarter
ended 30 April 2008. This constitutes the company's first interim management
statement for the financial year ending 31 January 2009, as required by the UK
Listing
Authority's Disclosure and Transparency Rule 4.3.
The unaudited net asset value per ordinary share as at 30 April 2008 was 89.4p
(31 January 2008 89.1p). The net value is stated before deducting the final
dividend of 4.0p per share in respect of the year ended 31 January 2008, which
was approved by
shareholders at the annual general meeting on 22 May 2008 and will be paid to
eligible shareholders on 6 June 2008. Shareholders whose shares were allotted
between 29 January 2008 and 17 April 2008 in connection with the company's
recent offer for
subscription do not rank for this dividend.
The number of ordinary shares in issue at 30 April 2008 was 56,868,166. During
the three months ended 30 April 2008 8,094,338 new ordinary shares were issued
at a price of 95.0p per share in connection with the offer for subscription and
348,427
shares were re-purchased by the company for cancellation at a price of 80.2p per
share.
Quoted investments are carried at bid price as at 30 April 2008. Unquoted
investments are carried at fair value as at 30 April 2008 as determined by the
directors.

During the three months ended 30 April 2008 the following significant investment
transactions took place (all companies unquoted except where otherwise
indicated):

New investments:

Name of company Business activity Amount
invest
ed
#000
Tikit Group (AIM-quoted) IT solutions and support services 525
Paladin Group Property management services 407
Optilan Group Telecommunications systems integrator 1,000
Axial Systems Holdings Distributed network management solutions 1,000

Disposals:

Carrying
Name of company Sales Original value at
proce cost 31 January
eds #000 2008
#000 #000
TFB Group (trade sale) 1,543 620 1,543
Arrow Industrial Group (trade sale) 1,092 735 1,092
Inspicio (AIM-quoted) (recommended offer) 225 100 223

The directors are not aware of any other events or transactions which have taken
place between 30 April 2008 and the date of publication of this statement and
which have had a material effect on the financial position of the company.

Enquiries:
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website: www.nvm.co.uk
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange

END

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