Net Asset Value

31 Jul 2020 14:30

31 JULY 2020

NORTHERN VENTURE TRUST PLC

UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2020

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 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 30 June 2020 was 60.7 pence (31 March 2020 58.2 pence). The net asset value is stated before deducting the interim dividend of 1.5 pence per share in respect of the year ending 30 September 2020, which will be paid to eligible shareholders on 28 August 2020.

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2020 and unquoted investments are carried at fair value as at 30 June 2020 as determined by the directors.

New Investments:

During the three months ended 30 June 2020 one new venture capital investment was completed.

In addition to the new investment above £382,000 was invested in two existing portfolio companies during the quarter.

Realisations:

There are no significant realisations to report for the period.

The number of ordinary shares in issue at 30 June 2020 was 159,650,553. During the three months ended 30 June 2020 22,352,851 shares were allotted at an average price of 55.9 pence per share. No shares were purchased for cancellation during the period.

Enquiries:Simon John/James Bryce, NVM Private Equity LLP – 0191 244 6000Website: www.nvm.co.uk

Martin Glanfield, Chief Financial Officer, Mercia Asset Management PLC – 0330 223 1430Website: www.mercia.co.uk

Neither the contents of the NVM Private Equity LLP or the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC website (or any other website), are incorporated into, or forms part of, this announcement.