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Pin to quick picksNorthern 3 Vct Regulatory News (NTN)

Share Price Information for Northern 3 Vct (NTN)

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Share Price: 84.50
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Northern 3 VCT is an Investment Trust

To provide high long-term tax-free returns to investors through a combination of dividend yield and capital growth, invests primarily in unquoted UK manufacturing and service businesses.

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Net Asset Value

18 Feb 2019 15:45



Net Asset Value

18 FEBRUARY 2019

NORTHERN 3 VCT PLC

UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2018

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 per ordinary share as at 31 December 2018 was 92.5 pence (30 September 2018 94.6 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 2019, which was paid to eligible shareholders on 25 January 2019.

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2018 and unquoted investments are carried at fair value as at 31 December 2018 as determined by the directors.

During the three months ended 31 December 2018 the following venture capital transactions took place:

New investments:

Name of company Business activity Amount invested £000
AdministrateSaaS training and learning management platform720
ThanksboxEmployee engagement platform provider384

Subsequent to 31 December 2018 the Company has completed a new investment of £528,000 in Life’s Great Group (trading as Mojo Mortgages), an online mortgage broking platform.

Realisations:

 SaleOriginalCarrying value at
Name of company proceeds cost 31 March 2018
 £000£000£000
Closerstill Group – sale of company 2,639 1,520 1,985
Lanner Group – loan stock repayment 32 32 32
Sinclair Pharma (AIM quoted) – agreed takeover 1,147 957 672

Subsequent to 31 December 2018 the Company has completed the sale of its holding in Lanner Group, generating proceeds of £434,000 compared to a residual holding cost of £187,000.

The number of ordinary shares in issue at 31 December 2018 was 89,238,957. During the three months ended 31 December 2018 403,275 shares were re-purchased for cancellation at a price of 88.5 pence per share.

Enquiries:Simon John/James Bryce, 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.


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30th Nov 202311:00 amGNWTotal voting rights
23rd Nov 20232:02 pmGNWDividend Declaration
23rd Nov 20232:01 pmGNWHalf-yearly report
23rd Nov 20232:00 pmGNWUnaudited Half-Yearly Financial Report for the Six Months Ended 30 September 2023
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31st Oct 202311:00 amGNWTotal voting rights
29th Sep 20239:00 amGNWTotal voting rights
27th Sep 20234:00 pmGNWTransaction in Own Shares
27th Sep 20238:00 amGNWOffer for subscription
18th Sep 20231:00 pmGNWPublication of Prospectus
31st Aug 202311:00 amGNWTotal voting rights
18th Aug 202310:30 amGNWDirector/PDMR Shareholding
18th Aug 20238:00 amGNWIssue of Equity and Total Voting Rights
31st Jul 202311:00 amGNWTotal voting rights
28th Jul 20233:30 pmGNWNet Asset Value
27th Jul 20231:31 pmGNWResult of General Meeting
27th Jul 20231:00 pmGNWResult of AGM
14th Jul 20238:30 amGNWTransaction in Own Shares
30th Jun 202311:00 amGNWTotal voting rights
26th Jun 20233:31 pmGNWNotice of General Meeting
26th Jun 20233:30 pmGNWAnnual Financial Report and Notice of AGM
15th Jun 20233:02 pmGNWStatement regarding intention to fund raise
15th Jun 20233:01 pmGNWDividend Declaration
15th Jun 20233:00 pmGNWAnnual Financial Report for the Year Ended 31 March 2023
31st May 202311:00 amGNWTotal voting rights
28th Apr 202311:00 amGNWTotal voting rights
4th Apr 20237:15 amGNWDirector/PDMR Shareholding
4th Apr 20237:15 amGNWDirector/PDMR Shareholding
4th Apr 20237:15 amGNWDirector/PDMR Shareholding
4th Apr 20237:15 amGNWDirector/PDMR Shareholding
4th Apr 20237:00 amGNWIssue of Equity and Total Voting Rights
31st Mar 202311:00 amGNWTotal voting rights
28th Mar 20235:00 pmGNWTransaction in Own Shares
23rd Mar 20234:30 pmGNWOffer Update
28th Feb 202311:00 amGNWTotal voting rights

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