Northern 2 VCT PLC Net Asset Value
July 17 2018 - 5:30AM
UK Regulatory
TIDMNTV
17 JULY 2018
NORTHERN 2 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2018
Northern 2 VCT PLC ("the Company") is a Venture Capital Trust ("VCT")
launched in 1999 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 30 June 2018 was
66.7 pence (31 March 2018 (audited) 66.9 pence). The net asset value is
stated before deducting the final dividend of 3.5 pence per share in
respect of the year ended 31 March 2018, which will be paid to eligible
shareholders on 20 July 2018.
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 June 2018 and unquoted
investments are carried at fair value as at 30 June 2018 as determined
by the directors.
During the three months ended 30 June 2018 the following new venture
capital investments were completed:
Amount
invested
Name of company Business activity GBP000
----------------- ----------------------------------------------------------- ---------
Ablatus
Therapeutics Development of medical devices to treat cancerous
Limited tumours 322
Software solution to automate the preparation of documents
Clarilis Limited for the legal sector 1,012
Newcells Biotech Development of innovative efficacy and toxicity testing
Limited solutions for the drug discovery sector 484
The number of ordinary shares in issue at 30 June 2018 was 130,089,490.
During the three months ended 30 June 2018 there were no movements in
the number of shares in issue.
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.
(END) Dow Jones Newswires
July 17, 2018 05:30 ET (09:30 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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