Northern 3 VCT PLC.

17 FEBRUARY 2015



Northern 3 VCT PLC ("the Company") is a Venture Capital Trust ("VCT") launched in 2001 and managed 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 31 December 2014 was 108.0 pence (30 September 2014:  105.5 pence).  The net asset value is stated before deducting the interim dividend of 2.0 pence per share in respect of the year ending 31 March 2015, which was paid to eligible shareholders on 16 January 2015.

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2014 and unquoted investments are carried at fair value as at 31 December 2014 as determined by the directors.

During the three months ended 31 December 2014 the following significant investment transactions took place:

New investments:

Name of company 

Business activity 
Cityfibre Infrastructure Holdings plc
Design and operation of wholesale fibre optic infrastructure 496
Collagen Solutions plc
Provision of medical grade collagen formulations and components 271


      value at
  Sales Original 30 September
Name of company         proceeds  cost  2014
  £000 £000 £000
Promatic Group - sale of holding 861 701 764

On 9 February 2015 the Company announced the sale of its investment in Kerridge Commercial Systems for cash proceeds of £7,370,000.  The directors have valued the investment at the sale price for the purposes of calculating the unaudited net asset value per share as at 31 December 2014.

The number of ordinary shares in issue at 31 December 2014 was 66,475,347.  During the three months ended 31 December 2014 no new shares were issued and 100,000 shares were re-purchased by the Company for cancellation at a price of 93.0 pence per share.

Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000


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Source: Northern 3 VCT PLC via Globenewswire