Announcements

Northern Investors Company PLC.

28 JULY 2011

 

NORTHERN INVESTORS COMPANY PLC

 

INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 JUNE 2011

 

Northern Investors Company PLC presents its interim management statement for the quarter ended 30 June 2011.  This constitutes the company's first interim management statement for the financial year ending 31 March 2012, as required by the UK Listing Authority's Disclosure Rules and Transparency Rules, Rule 4.3.

 

The unaudited net asset value per ordinary share as at 30 June 2011 was 306.8p (31 March 2011 (audited) 304.1p).  The net asset value is stated before deducting the final dividend of 5.8p per share in respect of the year ended 31 March 2011, which was approved by shareholders at the annual general meeting on 21 July 2011 and was paid on 22 July 2011.

 

The number of ordinary shares in issue at 30 June 2011 was 19,395,440 (31 March 2011 19,395,440).  No shares were allotted or re-purchased during the quarter.

 

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2011 and unquoted investments are carried at fair value as at 30 June 2011 as determined by the directors.

 

Net assets at 30 June 2011 comprised the following:

 

  % of
 £000net assets
Unquoted investments at fair value    
  as determined by the directors 47,621 80.0
Quoted investments at bid price 27 0.1
  ---------- --------
Total fixed asset investments 47,648 80.1
Net current assets 11,865 19.9
  ---------- --------
Net assets 59,513 100.0
  ---------- --------

 

During the three months ended 30 June 2011 the following significant investment transactions took place:

 

New investments:

 


Name of company                     

Business activity                                  
Amount
    invested
£000
Paladin Group Limited* Integrated commercial and residential property services 250

*Additional investment in existing portfolio company

 

Realisations:

 

   Carrying
   value at
 SalesOriginal31 March
Name of company                                      proceedscost2011
             £000            £000            £000
       
Britspace Group Limited - 2,381 -

 

At a general meeting on 21 July 2011 shareholders approved resolutions to change the company's investment policy, change the terms of the investment management agreement, amend the articles of association and cancel the share premium account.

 

The directors are not aware of any other events or transactions which have taken place between 31 March 2011 and the date of publication of this statement and which have had a material effect on the financial position of the company.

 

This statement has been prepared solely to provide additional information in order to meet the requirements of the Disclosure Rules and Transparency Rules and should not be relied on by shareholders, or any other party, for any other purpose.

 

 

Enquiries:

 

Northern Investors Company PLC
Christopher Mellor                                  0191 244 6000

 

Oriel Securities
Joe Winkley/Emma Griffin                       020 7710 7600

 

Website:  www.nvm.co.uk

 

Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.




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Source: Northern Investors Co PLC via Thomson Reuters ONE

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