Northern 3 VCT plc Net Asset Value
16 July 2019 - 10:00PM
UK Regulatory
TIDMNTN
16 JULY 2019
NORTHERN 3 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2019
Northern 3 VCT PLC ("the Company") is a Venture Capital Trust ("VCT")
launched in 2001 and managed 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 2019 was
92.8 pence (31 March 2019 (audited) 94.2 pence). The net asset value is
stated before deducting the final dividend of 2.0 pence per share in
respect of the year ended 31 March 2019, which will be paid to eligible
shareholders on 19 July 2019.
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 June 2019 and unquoted
investments are carried at fair value as at 30 June 2019 as determined
by the directors.
New investments:
During the three months ended 30 June 2019 one new venture capital
investment was completed.
Amount
invested
Name of company Business activity GBP000
----------------- ---------------------------------------------------- ---------
Provision of software products to the asset finance
Quotevine Limited industry 704
In addition to the new investment above GBP280,000 was invested in three
existing portfolio companies during the quarter.
Realisations:
Carrying value at
Name of company Sale proceeds Original cost 31 March 2019
-------------------------- -------------- --------------- -----------------
GBP000 GBP000 GBP000
MSQ Partners Group Limited 3,075 1,478 3,082
The number of ordinary shares in issue at 30 June 2019 was 94,368,056.
During the three months ended 30 June 2019 7,162,551 shares were
allotted at an average price of 91.9 pence and 661,000 shares were
re-purchased for cancellation at an average price of 88.6 pence per
share.
Enquiries:
Simon John/James Bryce, NVM Private Equity LLP -- 0191 244 6000
Website: www.nvm.co.uk
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.
(END) Dow Jones Newswires
July 16, 2019 08:00 ET (12:00 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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