Northern 3 VCT PLC.
Net Asset Value(s)
17 FEBRUARY 2016
NORTHERN 3 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 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 2015 was 102.7 pence (30 September 2015 100.7 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 2016, which was paid to eligible shareholders on 29 January 2016.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2015 and unquoted investments are carried at fair value as at 31 December 2015 as determined by the directors.
During the three months ended 31 December 2015 no significant new investments were acquired and the following disposal took place:
|Name of company||proceeds||Cost||2015|
|Jelf Group plc||604||179||590|
The number of ordinary shares in issue at 31 December 2015 was 65,833,399. During the three months ended 31 December 2015 no new shares were issued by the company and no shares were re-purchased for cancellation.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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.
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