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    NTN   GB0031152027

NORTHERN 3 VCT PLC

(NTN)
  Report
Delayed Quote. Delayed London Stock Exchange - 09/21 03:00:00 am
97.5 GBX   --.--%
08/27NORTHERN 3 VCT : Issue of Equity – 27th August 2021
PU
08/19NORTHERN 3 VCT : Result of AGM
AQ
08/19Northern 3 VCT PLC Approves Final Dividend for the Year Ended 31 March 2021
CI
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Northern 3 VCT : Net Asset Value

07/20/2021 | 11:00am EDT

20 JULY 2021

 

NORTHERN 3 VCT PLC

 

UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2021

 

Northern 3 VCT PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 2001 and managed 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 109.1 pence (31 March 2021 (audited) 107.0 pence).

 

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. The net asset value is stated before deducting the second interim (special) dividend of 4.5 pence per share and the proposed final dividend of 2.5 pence per share in respect of the year ended 31 March 2021, which will, subject to approval by shareholders at the annual general meeting on 19 August 2021, be paid to eligible shareholders on 27 August 2021.

 

 

New investments:

During the three months ended 30 June 2021 one new venture capital investment was completed.


Name of company

Business activity
Amount
invested
£000
Naitive Technologies LimitedArtificial intelligence enabled medical diagnostics721

In addition to the new investment above, a total of £1,565,000 was invested in five existing portfolio companies during the quarter.

 

Realisations:


Name of company

Sale proceeds


Original cost
Carrying value at

31 March 2021
 £000£000£000
musicMagpie (partial realisation)7,9471,1597,947
Soda Software Labs1,2491,4641,537
Avid Technology3571,670411

 

The number of ordinary shares in issue at 30 June 2021 was 109,840,118. During the three months ended 30 June 2021 no shares were allotted and no shares were purchased for cancellation during the period.

 

Enquiries:

Simon John/James Bryce, NVM Private Equity LLP – 0191 244 6000

 

Martin Glanfield, Chief Financial Officer, Mercia Asset Management PLC – 0330 223 1430

Website: www.mercia.co.uk

 

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.

 


© OMX, source GlobeNewswire - EU Press Releases

All news about NORTHERN 3 VCT PLC
08/27NORTHERN 3 VCT : Issue of Equity – 27th August 2021
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08/19NORTHERN 3 VCT : Result of AGM
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08/19Northern 3 VCT PLC Approves Final Dividend for the Year Ended 31 March 2021
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07/20NORTHERN 3 VCT : Net Asset Value
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07/20NORTHERN 3 VCT : Annual Financial Report
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07/19NORTHERN 3 VCT : Statement re intention to fund raise
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07/05NORTHERN 3 VCT : Transaction in Own Shares
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06/23Northern 3 Vct plc Reports Earnings Results for the Full Year Ended March 31, 2021
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04/22NORTHERN 3 VCT : Admission to AIM of musicMagpie plc
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03/08NORTHERN 3 VCT : Transaction in Own Shares
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Financials
Sales 2021 41,3 M 56,4 M 56,4 M
Net income 2021 37,4 M 51,1 M 51,1 M
Net cash 2021 23,4 M 32,0 M 32,0 M
P/E ratio 2021 2,68x
Yield 2021 4,95%
Capitalization 108 M 147 M 147 M
EV / Sales 2020 -6,25x
EV / Sales 2021 1,85x
Nbr of Employees -
Free-Float 98,7%
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Managers and Directors
James Gordon Dickson Ferguson Chairman
Christopher John Fleetwood Independent Non-Executive Director
John McLaren Ogilvie Waddell Independent Non-Executive Director
Timothy Roland Levett Non-Executive Director
Anna Brown Non-Executive Director
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