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Pin to quick picksNorthern Venture Trust Regulatory News (NVT)

Share Price Information for Northern Venture Trust (NVT)

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Northern Venture Trust is an Investment Trust

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

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Net Asset Value

9 Feb 2024 08:00

Net Asset Value

9 FEBRUARY 2024

NORTHERN VENTURE TRUST PLC

UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2023

Northern Venture Trust PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 1995 and advised 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 62.4 pence (30 September 2023 (unaudited) 61.4 pence).

The net asset value is stated before deducting the second interim dividend of 1.6 pence per share 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 blood968
iOpt LimitedRemote performance monitoring of property assets for social housing sector941

In addition to the new investments above £2,243,000 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 Limited2771,661242
Medovate Limited901,77090

The number of ordinary shares in issue at 31 December 2023 was 191,489,134. During the three months ended 31 December 2023 19,211,579 shares were allotted at prices between 62.65 pence per share and 66.04 pence per share and 1,551,237 shares were purchased for cancellation at a price of 58.33 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
10th Feb 202311:00 amGNWNet Asset Value
31st Jan 202311:00 amGNWTotal voting rights
13th Jan 20231:00 pmGNWIssue of Equity and Total Voting Rights
12th Jan 20233:00 pmGNWResult of General Meeting
12th Jan 20239:00 amGNWStatement re Offer for subscription
30th Dec 202211:00 amGNWTotal voting rights
20th Dec 20224:30 pmGNWTransaction in Own Shares
1st Dec 20225:30 pmGNWTransaction in Own Shares
29th Nov 20224:30 pmGNWInterim report and notice of General Meeting
23rd Nov 20222:32 pmGNWStatement regarding intention to fund raise
23rd Nov 20222:31 pmGNWDividend Declaration
23rd Nov 20222:30 pmGNWInterim Report
3rd Oct 20227:00 amGNWTotal voting rights
30th Sep 20227:00 amGNWCompany Secretary Change
28th Sep 20224:30 pmGNWTransaction in Own Shares
1st Sep 20227:00 amGNWTotal voting rights
18th Aug 20224:45 pmGNWTransaction in Own Shares and Total Voting Rights
12th Aug 202210:31 amGNWIssue of Equity and Total Voting Rights
15th Jul 20222:00 pmGNWNet Asset Value(s)
11th Jul 20224:30 pmGNWInterim report
1st Jul 20227:00 amGNWTotal voting rights
22nd Jun 20225:15 pmGNWTransaction in Own Shares and Total Voting Rights
15th Jun 20223:03 pmGNWChange of Accounting Reference Date
15th Jun 20223:00 pmGNWHalf-year report
3rd May 20227:00 amGNWTotal voting rights
5th Apr 20224:16 pmGNWIssue of Equity and Total Voting Rights
1st Apr 202212:02 pmGNWDirector/PDMR Shareholding
1st Apr 202212:02 pmGNWDirector/PDMR Shareholding
1st Apr 202212:00 pmGNWIssue of Equity and Total Voting Rights
1st Apr 20227:00 amGNWTotal voting rights
28th Mar 20224:30 pmGNWTransaction in Own Shares
18th Mar 20227:00 amGNWNet Asset Value(s)
1st Mar 20227:00 amGNWTotal voting rights
25th Feb 20225:00 pmGNWTransaction in Own Shares
11th Feb 20227:00 amGNWNet Asset Value(s)
1st Feb 20227:00 amGNWTotal voting rights
14th Jan 202210:15 amGNWIssue of Equity
13th Jan 20227:00 amGNWOffer Update
10th Jan 202212:45 pmGNWPublication of Prospectus
7th Jan 20222:30 pmGNWResult of AGM
4th Jan 20221:15 pmGNWTotal voting rights
4th Jan 20227:00 amGNWCompany Secretary Change and Change of Registered Office
20th Dec 20214:45 pmGNWTransaction in Own Shares
14th Dec 20214:30 pmGNWAnnual Financial Report and notice of AGM
13th Dec 20214:00 pmGNWDirectorate change
1st Dec 202112:30 pmGNWTransaction in Own Shares
30th Nov 20212:00 pmGNWStatement regarding intention to fund raise
24th Nov 20214:25 pmGNWAnnual Financial Report
31st Aug 20217:45 pmGNWTotal voting rights
20th Aug 202112:00 pmGNWIssue of Equity

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