REG-Net Asset Value(s) <Origin Href="QuoteRef">NTV.L</Origin>

Northern 2 VCTAnnouncement

19/02/2018 09:35

  
19 FEBRUARY 2018
  
NORTHERN 2 VCT PLC
  
UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2017
  
Northern 2 VCT PLC ("the Company") is a Venture Capital Trust ("VCT") launched in 1999 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 31 December 2017 was 68.5 pence (30September 2017 68.4 pence). The net asset value is stated before deducting the interim dividend of 2.0 pence per share in respect of the year ending 31 March 2018, which was paid to eligible shareholders on 26 January 2018.
  
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2017 and unquoted investments are carried at fair value as at 31 December 2017 as determined by the directors.
  
During the three months ended 31 December 2017 the following new venture capital investments were completed:
                         
 
Name of company  
 
Business activity  
 Amount
 invested
000 
 Soda Software Labs Limited 
 Data and text analysis software for identity verification and fraud detection 
 1,332 
 Angle plc (AIM-quoted) 
 Rare cell diagnostic products for treatment of cancer 
 134 
 Medovate Limited 
 Development and commercialisation of innovative medical technologies 
 1,450 
  
The number of ordinary shares in issue at 31 December 2017 was 129,532,452. During the three months ended 31 December 2017 28,559,097 new shares were allotted at an average price of 69.9pence per share pursuant to a public offer for subscription and 427,000 shares were re-purchased for cancellation at a price of 65.0 pence per share.
   
Enquiries:
Alastair Conn/Christopher Mellor, 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.
  


This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Northern 2 VCT PLC via Globenewswire