Northern Venture Trust PLC.
Net Asset Value(s)
17 FEBRUARY 2016
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2015
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 2015 was 80.7 pence (30 September 2015 (audited) 83.0 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 2015, which was approved by shareholders at the annual general meeting on 17 December 2015 and was paid to eligible shareholders on 22 December 2015.
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 there were no significant investment acquisitions or disposals.
The number of ordinary shares in issue at 31 December 2015 was 94,689,820. During the three months ended 31 December 2015 no new shares were issued by the company and 410,000 shares were re-purchased for cancellation at an average cost to the company of 78.2 pence per share.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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Source: Northern Venture Trust PLC via Globenewswire