Northern Investors Company PLC.

26 JULY 2013



Northern Investors Company PLC presents its interim management statement for the quarter ended 30 June 2013.  This constitutes the company's first interim management statement for the financial year ending 31 March 2014, as required by the UK Listing Authority's Disclosure Rules and Transparency Rules, Rule 4.3.

In July 2011 shareholders approved a change in investment strategy whereby the company ceased making new investments and began an orderly realisation of its portfolio with a view to returning capital to shareholders.  The company has subsequently returned £22.9 million to shareholders by way of tender offers in December 2011 and December 2012.

The unaudited net asset value per ordinary share as at 30 June 2013 was 364.2p (31 March 2013 (audited) 363.8p).  The net asset value is stated after deducting the final dividend of 9.5p per share in respect of the year ended 31 March 2013, which was approved by shareholders at the annual general meeting on 19 June 2013 and was paid on 5 July 2013.

The number of ordinary shares in issue at 30 June 2013 was 12,128,440 (31 March 2013 12,128,440).  No shares were allotted or re-purchased during the quarter ended 30 June 2013.

For the purposes of calculating the net asset value per share, unquoted investments are carried at fair value as at 30 June 2013 as determined by the directors.

Net assets at 30 June 2013 comprised the following:

% of
          £000          net assets
Fixed asset investments at fair value                   
  as determined by the directors 41,360 93.6
Net current assets 2,811 6.4
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Net assets 44,171 100.0
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Cash and near-cash assets at 30 June 2013 totalled £5,447,000 (31 March 2013 £2,736,000).  The final dividend for the year ended 31 March 2013 was paid on 5 July 2013 at a cost of £1,152,000.

During the three months ended 30 June 2013 the following significant investment realisation took place:

value at
SalesOriginal31 March
Name of investee company                             proceedscost2013
            £000            £000            £000
IG Doors (sale to Hörmann Group) 1,916 119 1,509

The directors are not aware of any other events or transactions which have taken place between 31 March 2013 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.


Northern Investors Company PLC
Nigel Guy/Christopher Mellor                               0191 244 6000

Oriel Securities
Neil Winward                                                     020 7710 7600


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Source: Northern Investors Co PLC via Thomson Reuters ONE