Northern 3 Vct Regulatory News (NTN)

24 Jan 2006 11:09

Northern 3 VCT PLC24 January 2006 NORTHERN 3 VCT PLC 24 JANUARY 2006 UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2005 Northern 3 VCT PLC announces that the unaudited net asset value per share as at31 December 2005 was 96.3p. The net asset value is stated before deducting theproposed final dividend of 1.7p per share in respect of the year ended 30September 2005, which was approved by shareholders at the annual general meetingon 18 January 2006 and paid on 20 January 2006. The basis of calculation of the company's net asset value has changed to reflectthe requirements of those UK Financial Reporting Standards which will beapplicable to the company's published accounts for the first time in the yearending 30 September 2006. In particular, quoted investments are now carried atbid rather than mid-market prices and proposed dividends are not provided foruntil a liability to pay has been established. For comparative purposes, the net asset value per share as at 30 September 2005restated on the same basis was 95.7p. The following table reconciles this figurewith the net asset value per share of 94.1p reported in the company'spreliminary announcement dated 8 December 2005 of results for the year ended 30September 2005: Pence per share Net asset value at 30 September 2005 - as previouslyreported 94.1 Less: adjustment in valuation of quoted investments to bidprice (0.1) Add: proposed final dividend for year ended 30 September2005 1.7 ------Net asset value at 30 September 2005 - as restated 95.7 ------ The number of ordinary shares in issue at 31 December 2005 was 31,396,979. Enquiries: Alastair Conn, Northern Venture Managers Limited - 0191 244 6000 Website: www.nvm.co.uk ENDS This information is provided by RNS The company news service from the London Stock Exchange