Northern Inv. Co PLC Portfolio Update
28 Setembro 2018 - 3:00AM
UK Regulatory
TIDMNRI
28 SEPTEMBER 2018
NORTHERN INVESTORS COMPANY PLC
PORTFOLIO UPDATE
Northern Investors Company PLC ("Northern Investors") announces the sale
of its investment in CGI Group Holdings ("CGI"), which manufactures
fire-resistant glass under the Pyroguard brand.
Northern Investors has received cash proceeds of GBP1.75 million for its
holding of ordinary shares and loan stock in CGI, plus GBP0.12 million
in respect of arrears of loan stock interest not previously recognised.
The directors' valuation of the investment in CGI for the purposes of
calculating the unaudited net asset value of Northern Investors as at 30
June 2018, which was announced on 10 July 2018, was GBP1.66 million.
The uplift in Northern Investors' net assets resulting from the
realisation is therefore GBP0.21 million, equivalent to approximately
8.4 pence per share based on the 2,496,767 shares currently in issue.
Following the sale of CGI, Northern Investors' residual investment
portfolio now comprises three unquoted investments with a carrying value
as at 30 June 2018 of GBP4.0 million. The directors' next review of
investment valuations will take place as at 30 September 2018 and will
be reflected in the half-yearly results for the six months ending 30
September 2018, which are expected to be announced in November 2018.
As previously reported, the directors intend to put proposals to
shareholders before the end of 2018 for a members' voluntary liquidation
of Northern Investors, with the aim of facilitating on a cost-effective
basis the realisation of the remaining investments and the tax-efficient
distribution of funds to shareholders.
For further information, please contact:
Northern Investors Company PLC
Nigel Guy/James Bryce 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
September 28, 2018 02:00 ET (06:00 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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