20 JULY 2021
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2021
Northern Venture Trust PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 1995 and advised by Mercia Fund Management Limited. 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 2021 was 80.9 pence (31 March 2021 (un-audited 79.8 pence). The net asset value is stated before deducting the interim dividend of 2.0 pence per share and the second interim (special) dividend of 6.0 pence per share in respect of the year ending 30 September 2021, which will be paid to eligible shareholders on 20 August 2021.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2021 and unquoted investments are carried at fair value as at 30 June 2021 as determined by the directors.
During the three months ended 30 June 2021 one new venture capital investment was completed.
|Name of company||Business activity||Amount
|Naitive Technologies Limited||Artificial intelligence enabled medical diagnostics||787|
In addition to the new investment above £494,000 was invested in three existing portfolio companies during the quarter.
|Name of company||Sale proceeds||
|Carrying value at
30 September 2020
|Soda Software Labs||1,256||1,472||747|
The number of ordinary shares in issue at 30 June 2021 was 158,952,520. During the three months ended 30 June 2021 no shares were allotted and no shares were purchased for cancellation during the period.
Simon John/James Bryce, NVM Private Equity LLP – 0191 244 6000
Martin Glanfield, Chief Financial Officer, Mercia Asset Management PLC – 0330 223 1430
Neither the contents of the NVM Private Equity LLP or the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC website (or any other website), are incorporated into, or forms part of, this announcement.