Northern Venture Trust PLC.
11 FEBRUARY 2010
NORTHERN VENTURE TRUST PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 DECEMBER 2009
Northern Venture Trust PLC presents its interim management statement for the
three months ended 31 December 2009. This constitutes the company's first
interim management statement for the financial year ending 30 September 2010, as
required by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
This statement has been prepared solely to provide additional information in
order to meet the requirements of the Disclosure and Transparency Rules and
should not be relied on by shareholders, or any other party, for any other
The unaudited net asset value per ordinary share as at 31 December 2009 was
79.8p (30 September 2009 (audited) 80.3p).
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 31 December 2009 and unquoted
investments are carried at fair value as at 31 December 2009 as determined by
The number of ordinary shares in issue at 31 December 2009 was 59,589,418.
During the three months ended 31 December 2009, 19,009,157 new ordinary shares
were issued on conversion of the company's 20,409,465 C shares on 29 October
2009. There were no other movements in the company's issued capital during the
quarter. On 14 January 2010 the company re-purchased for cancellation 150,000
ordinary shares at a price of 67.0p.
During the three months ended 31 December 2009 the following significant
investment transactions took place:
Sales Original 30 September
Name of company proceeds cost 2009
ÂGBP000 ÂGBP000 ÂGBP000
Abermed (trade sale) 1,081 600 835
At the annual general meeting of shareholders held on 13 January 2010, a
resolution was passed that the company should continue as a venture capital
trust for a further five year period.
The directors are not aware of any other events or transactions which have taken
place between 30 September 2009 and the date of publication of this statement
and which have had a material effect on the financial position of the company.
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website: www.nvm.co.uk <http://www.nvm.co.uk/>
(END) Dow Jones Newswires
February 11, 2010 05:10 ET (10:10 GMT)