Northern Venture Trust PLC.
Net Asset Value
17 JULY 2018
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2018
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 2018 was 69.2 pence (31 March 2018 (unaudited) 70.7 pence). The net asset value is stated after deducting the interim dividend of 2.0 pence per share in respect of the six months ended 31 March 2018, which was paid to eligible shareholders on 29 June 2018.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2018 and unquoted investments are carried at fair value as at 30 June 2018 as determined by the directors.
During the three months ended 30 June 2018 the following new venture capital investments were completed:
Name of company
|Ablatus Therapeutics Limited||Development of medical devices to treat cancerous tumours||354|
|Clarilis Limited||Software solution to automate the preparation of documents for the legal sector||1,092|
|Newcells Biotech Limited||Development of innovative efficacy and toxicity testing solutions for the drug discovery sector||531|
The number of ordinary shares in issue at 30 June 2018 was 133,431,876. During the three months ended 30 June 2018 796,414 new shares were allotted at a price of 68.7 pence per share pursuant to the Company’s dividend investment scheme.
Simon John/James Bryce, NVM Private Equity LLP – 0191 244 6000
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