Northern 3 VCT PLC.
Net Asset Value(s)
24 JULY 2015
NORTHERN 3 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 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 30 June 2015 was 108.0 pence (31 March 2015 (audited) 107.2 pence). The net asset value is stated before deducting the second interim and final dividends totalling 13.5 pence per share in respect of the year ended 31 March 2015, which were paid to eligible shareholders on 17 July 2015.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2015 and unquoted investments are carried at fair value as at 30 June 2015 as determined by the directors.
On 2 April 2015 the Company made VCT-qualifying investments totalling £8,248,000 in six new companies, each of which intends to acquire a trading business. The following investment transactions also took place during the three months ended 30 June 2015:
Name of company
|Gear4music (Holdings) plc (AIM-quoted)||Online retail of musical instruments and equipment||151|
|Vislink plc (AIM-quoted)||Provision of advanced communications to the broadcast, surveillance and defence industries||288|
|Name of company||proceeds||cost||2015|
|Accumuli plc (AIM-quoted)||690||490||616|
|Nationwide Accident Repair Services plc (AIM-quoted)||325||290||283|
The number of ordinary shares in issue at 30 June 2015 was 66,353,399. No shares were allotted or re-purchased during the three months ended 30 June 2015.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Northern 3 VCT PLC via Globenewswire