Net Asset Value
28 Julho 2023 - 11:30AM
Net Asset Value
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.
Name of company
|
Business
activity |
Amount invested£ million |
Camena Bioscience Ltd |
Provider of
synthetic DNA |
1.6 |
In addition to the new investment above, £1.1
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.
Name of
company |
Sale proceeds |
Original cost |
Carrying value at 31 March 2023 |
|
£ million |
£ million |
£ 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
1430Website: 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.
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