Northern Venture Tst Net Asset Value
28 Julio 2023 - 9:30AM
UK Regulatory
TIDMNVT
28 July 2023
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS AT 30 JUNE 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 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
2023 was 62.0 pence (31 March 2023: 62.1 pence).
For the purposes of calculating the net asset value per share,
quoted investments are carried at bid price as at 30 June 2023 and
unquoted investments are carried at fair value as at 30 June 2023
as determined by the directors.
New Investments:
During the three months ended 30 June 2023 one new venture
capital investment was completed.
Amount
invested
Name of company Business activity GBP million
------------------ -------------------------- ------------
Camena Bioscience
Ltd Provider of synthetic DNA 1.6
In addition to the new investment above, GBP1.1 million was
invested in three existing portfolio companies during the
quarter.
Realisations:
During the three months ended 30 June 2023 one venture capital
investment was realised.
Carrying value
at
Name of company Sale proceeds Original cost 31 March 2023
----------------- -------------- -------------- --------------
GBP million GBP million GBP million
Evotix Ltd 12.7 2.8 12.7
The number of ordinary shares in issue at 30 June 2023 was
174,661,348. During the three months ended 30 June 2023 9,741,182
shares were allotted pursuant to the Company's 2022/23 public share
offer.
Enquiries:
Sarah Williams / James Sly, Mercia Fund Management Ltd -- 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.
(END) Dow Jones Newswires
July 28, 2023 10:30 ET (14:30 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
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