Northern 3 Vct Regulatory News (NTN)

28 Jan 2008 10:04

Northern 3 VCT PLC28 January 2008 28 JANUARY 2008 NORTHERN 3 VCT PLC (the "Company") INTERIM MANAGEMENT STATEMENT FOR THE QUARTER ENDED 31 DECEMBER 2007 Northern 3 VCT PLC presents its interim management statement for the quarterended 31 December 2007. This quarter forms part of the 18 month accountingperiod ending on 31 March 2008. The unaudited net asset value per ordinary share as at 31 December 2007 was98.9p (30 September 2007 97.9p). The net asset value is stated before deductingthe second interim dividend of 2.0p per share in respect of the 18 monthaccounting period ending 31 March 2008, which was declared on 15 November 2007and paid on 18 January 2008. The number of ordinary shares in issue at 31 December 2007 was 30,036,827.During the quarter ended 31 December 2007 no new shares were issued and a totalof 93,352 shares were re-purchased by the Company for cancellation at an averageprice of 88.2p per share. On 18 January 2008 76,202 new ordinary shares wereallotted at a price of 95.9p in connection with the Company's dividendinvestment scheme. Quoted investments are carried at bid price as at 31 December 2007. The boardcarries out a formal revaluation of unquoted investments half-yearly as at 31March and 30 September and accordingly unquoted investments are carried at fairvalue as determined by the directors as at 30 September 2007, with subsequentadditions at cost. During the three months ended 31 December 2007 the following significantinvestment transactions took place (all companies unquoted except whereotherwise indicated): New investments: None. Disposals: Carrying value at Sales Original 30 SeptemberName of company proceeds cost 2007 £000 £000 £000KCS Global Holdings 898 338 898Develop Training 527 362 388 KCS Global Holdings, which provides HR and payroll software and outsourcingservices, was sold to The Sage Group plc on 26 October 2007. Develop Training,a provider of training services primarily to the utility and infrastructuresectors, was sold to a secondary management buyout vehicle on 29 November 2007. The directors are not aware of any other events or transactions which have takenplace between 31 December 2007 and the date of publication of this statement andwhich have had a material effect on the financial position of the company. Enquiries: Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000 Website: www.nvm.co.uk This information is provided by RNS The company news service from the London Stock Exchange