Northern Venture Trust PLC.
Net Asset Value(s)
17 FEBRUARY 2015
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2014
Northern Venture Trust PLC ("the Company") is a Venture Capital Trust ("VCT") launched in 1995 and advised 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 2014 was 86.6 pence (30 September 2014 (audited) 87.8 pence). The net asset value is stated after deducting the final dividend of 3.0 pence per share in respect of the year ended 30 September 2014, which was approved by shareholders at the annual general meeting on 18 December 2014 and was paid to eligible shareholders on 23 December 2014.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2014 and unquoted investments are carried at fair value as at 31 December 2014 as determined by the directors.
During the three months ended 31 December 2014 the following significant investment transactions took place:
Name of company
| Collagen Solutions plc|
|Provision of medical grade collagen formulations and components||321|
|Name of company||proceeds||cost||2014|
|Alaric Systems - receipt of deferred sale proceeds||600||-||-|
|Promatic Group - sale of holding||1,510||1,230||1,337|
On 9 February 2015 the Company announced the sale of its investment in Kerridge Commercial Systems for cash proceeds of £8,590,000. The directors have valued the investment at the sale price for the purposes of calculating the unaudited net asset value per share as at 31 December 2014.
The number of ordinary shares in issue at 31 December 2014 was 95,534,820. During the three months ended 31 December 2014 503,340 new shares were issued at a price of 84.8 pence per share pursuant to the Company's dividend investment scheme and 50,000 shares were re-purchased by the Company for cancellation at a price of 76.75 pence per share.
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 Venture Trust PLC via Globenewswire