Northern Venture Trust PLC.
Net Asset Value(s)
20 JULY 2016
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2016
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 30 June 2016 was 73.0 pence (31 March 2016 (unaudited) 82.9 pence). The net asset value is stated after deducting the first and second interim dividends totalling 10.0 pence per share in respect of the year ending 30 September 2016, which were paid to eligible shareholders on 30 June 2016.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2016 and unquoted investments are carried at fair value as at 30 June 2016 as determined by the directors.
During the three months ended 30 June 2016 the following significant venture capital portfolio transactions took place:
Name of company
|Myparceldelivery Holdings||Parcel delivery comparison website||905|
|Lending Works||Peer-to-peer lending platform||722|
On 4 July 2016 the Company completed a new investment of £715,000 in Avid Technology Group, which specialises in the electrification and intelligent control of engine ancillaries, thermal management systems and hybrid systems.
|Sale||Original||Carrying value at|
|Name of company||proceeds||cost||31 March 2016|
The number of ordinary shares in issue at 30 June 2016 was 96,565,979. During the three months ended 30 June 2016 2,606,159 new shares were issued at a price of 72.9 pence per share pursuant to the Company's dividend investment scheme and no shares were re-purchased for cancellation.
Alastair Conn/Christopher Mellor, NVM Private Equity LLP - 0191 244 6000
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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