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

Northern 3 VCTAnnouncement

24/07/2017 12:00

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24 JULY 2017

NORTHERN 3 VCT PLC

UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2017

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 (NAV) per ordinary share as at 30 June 2017 was
106.1 pence (31 March 2017 (audited) 106.2 pence).  The NAV is stated before
deducting the second interim and final dividends totalling 8.5 pence per share
in respect of the year ended 31 March 2017, which were paid to eligible
shareholders on 21 July 2017.

For the purposes of calculating the NAV per share, quoted investments are
carried at bid price as at 30 June 2017 and unquoted investments are carried
at fair value as at 30 June 2017 as determined by the directors.

During the three months ended 30 June 2017 the following venture capital
portfolio transactions took place:

New investments:

 Name of company                   Business activity                                                         Amount invested £000 
 Velocity Composites (AIM quoted)  Supplier of advanced composite material kits to the aerospace industry                      95 

Subsequent to 30 June 2017 the Company has completed new investments of
£958,000 in Knowledgemotion, an aggregator and distributor of educational
video materials, and £481,000 in Contego Fraud Solutions, a developer of
identity verification software and solutions.

Realisations:

                                                            Sale  Original  Carrying value at 
 Name of company                                        proceeds      cost      31 March 2017 
                                                            £000      £000               £000 
 Optilan Group - sale of company                           2,751     1,125              2,751 
 Kirton - loan stock repayment                               664       664                166 
 Gear4music (Holdings) plc (AIM quoted) - market sale        211        42                161 

The number of ordinary shares in issue at 30 June 2017 was 69,756,833. 
During the three months ended 30 June 2017 3,958,863 new shares were allotted
at an average price of 108.1 pence per share pursuant to a top-up share
offer.  No shares were re-purchased for cancellation during the period.

On 4 July 2017 the Company re-purchased 299,000 ordinary shares in the market
for cancellation at a price of 92.8 pence per share.  On 21 July 2017 855,313
new shares were allotted at a price of 97.7 pence per share pursuant to the
Company's dividend investment scheme.

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 3 VCT PLC via Globenewswire