Northern Investors Company PLC.
Portfolio update and proposed tender offer
7 MARCH 2016
NORTHERN INVESTORS COMPANY PLC
PORTFOLIO UPDATE AND PROPOSED TENDER OFFER
Northern Investors Company PLC ("Northern Investors") announces the sale of its investment in Control Risks Group Holdings Limited ("Control Risks") for £7.30 million in cash. The directors' valuation of the investment in Control Risks for the purposes of calculating Northern Investors' unaudited net asset value as at 31 December 2015, which was announced on 17 February 2016, was £7.30 million. Consequently there is no change to the net asset value as a result of the sale.
On 2 March 2016 Northern Investors announced the sale of its investment in Kitwave One Limited ("Kitwave") for initial cash proceeds of £8.14 million.
As previously announced, the directors intend to make a further distribution of funds to shareholders by way of a tender offer. Following the successful realisation of the investments in Kitwave and Control Risks, the directors now envisage that the amount to be distributed will be approximately £20 million. It is expected that a circular giving details of the tender offer will be published on 8 March 2016 and that the ensuing re-purchase and cancellation of shares will be completed by 31 March 2016.
For further information, please contact:
Northern Investors Company PLC
Nigel Guy/Christopher Mellor 0191 244 6000
Stifel Nicolaus Europe Limited
Neil Winward/Mark Bloomfield/Gaudi le Roux 020 7710 7600
Website: www.nvm.co.ukNeither 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 Investors Co PLC via Globenewswire