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Pin to quick picksNorthern 2 Vct Regulatory News (NTV)

Share Price Information for Northern 2 Vct (NTV)

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Share Price: 54.50
Bid: 53.00
Ask: 56.00
Change: 0.00 (0.00%)
Spread: 3.00 (5.66%)
Open: 54.50
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Northern 2 VCT is an Investment Trust

To invest mainly in unquoted venture capital holdings and aims to provide high long-term tax-free returns to shareholders through a combination of dividend yield and capital growth.

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Net Asset Value

9 Feb 2024 08:00

Net Asset Value

9 FEBRUARY 2024

NORTHERN 2 VCT PLC

UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2023

Northern 2 VCT PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 1999 and managed by Mercia Fund Management Limited. The Company’s objective is to provide 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 2023 was 59.4 pence (30 September 2023 (unaudited) 58.6 pence).

The net asset value is stated before deducting the interim dividend of 1.8 pence per share in respect of the year ending 31 March 2024, which was paid to eligible shareholders on 17 January 2024.

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2023 and unquoted investments are carried at fair value as at 31 December 2023 as determined by the directors.

New Investments:During the three months ended 31 December 2023 two new venture capital investments were completed.

Name of companyBusiness activityAmount invested£000
Wobble Genomics LimitedDevelopment of processes to extract, sequence and identify long-read RNA circulating in blood1,034
iOpt LimitedRemote performance monitoring of property assets for social housing sector1,006

In addition to the new investments above £2,055,000 was invested in four existing portfolio companies during the quarter.

Realisations:During the three months ended 31 December 2023 two venture capital investments were realised.

Name of companySale proceeds£000Original cost£000Carrying value at 30 September 2023£000
Haystack Dryers Limited2491,497218
Medovate Limited821,61182

The number of ordinary shares in issue at 31 December 2023 was 208,898,753. During the three months ended 31 December 2023 15,720,030 shares were allotted at prices between 59.80 pence per share and 63.02 pence per share and 1,264,397 shares were re-purchased for cancellation at a price of 55.67 pence per share.

Enquiries:

James Sly, Mercia Asset Management PLC – 0330 223 1430

Website: www.mercia.co.uk/vcts

The contents of the Mercia Asset Management PLC website and the contents of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), are not incorporated into, nor forms part of, this announcement.

Date   Source Headline
31st Jul 20188:30 amGNWTotal voting rights
12th Jul 20184:30 pmGNWResult of AGM
15th Jan 201010:59 amRNSTransaction in Own Shares
7th Aug 20093:22 pmRNSRule 8.3- Dragon Oil Plc
6th Jan 200910:12 amRNSTotal Voting Rights
5th Dec 200810:32 amRNSDirector/PDMR Shareholding
5th Dec 200810:29 amRNSIssue of Equity
21st Nov 20089:50 amRNSInterim Management Statement
16th Sep 200811:08 amRNSInterim Results
1st Aug 200812:13 pmRNSPurchase of Own Shares
1st Aug 200812:12 pmRNSTotal Voting Rights
1st Jul 20089:39 amRNSTotal Voting Rights
1st Jul 20089:36 amRNSPurchase of Own Shares
6th Jun 20089:26 amRNSDirector/PDMR Shareholding
6th Jun 20089:24 amRNSIssue of Equity
3rd Jun 20089:48 amRNSTotal Voting Rights
3rd Jun 20089:47 amRNSTransaction in Own Shares
30th May 20082:00 pmRNSSale of Product Support (Hold
22nd May 20083:29 pmRNSInterim Management Statement
22nd May 20083:08 pmRNSResult of AGM
20th May 20083:33 pmRNSAnnual Report and Accounts
2nd May 20088:38 amRNSTotal Voting Rights
30th Apr 200810:00 amRNSTransaction in Own Shares
24th Apr 20084:21 pmRNSAnnual Information Update
18th Apr 20082:49 pmRNSFinal Results
18th Apr 20089:33 amRNSResults of share offers
18th Apr 20089:31 amRNSIssue of Equity
7th Apr 20089:22 amRNSIssue of Equity
7th Apr 20089:19 amRNSIssue of Equity
7th Apr 20088:38 amRNSIssue of Equity
4th Apr 20083:48 pmRNSIssue of Equity
1st Apr 20089:56 amRNSTotal Voting Rights
31st Mar 200811:38 amRNSIssue of Equity
3rd Mar 20088:38 amRNSTotal Voting Rights
29th Feb 20083:08 pmRNSIssue of Ordinary Shares
4th Feb 20088:38 amRNSTotal Voting Rights
4th Feb 20088:32 amRNSPurchase of own shares
29th Jan 200810:41 amRNSDirector/PDMR Shareholding
29th Jan 200810:40 amRNSIssue of Equity
2nd Jan 200811:46 amRNSTotal Voting Rights
21st Dec 20074:16 pmRNSPurchase of own shares
7th Dec 20079:31 amRNSDirector/PDMR Shareholding
7th Dec 20079:28 amRNSIssue of Equity
3rd Dec 200711:33 amRNSTotal Voting Rights
29th Nov 20074:46 pmRNSPurchase of own shares
28th Nov 200711:19 amRNSPublication of Prospectus
19th Nov 20072:57 pmRNSInterim Management Statement
12th Nov 20072:59 pmRNSResult of EGM
1st Nov 20072:21 pmRNSTotal Voting Rights
1st Nov 20072:15 pmRNSTransaction in Own Shares

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