30 JULY 2009
NORTHERN VENTURE TRUST PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 JUNE 2009
Northern Venture Trust PLC presents its interim management statement
for the quarter ended 30 June 2009. This constitutes the company's
second interim management statement for the financial year ending 30
September 2009, as required by the UK Listing Authority's Disclosure
and Transparency Rule 4.3. This statement has been prepared solely
to provide additional information in order to meet the requirements
of the Disclosure and Transparency Rules and should not be relied on
by shareholders, or any other party, for any other purpose.
The unaudited net asset values per ordinary share and C share, and
the number of shares in issue, as at 30 June 2009 were as follows:
Net asset value Number of shares
per share in issue
Ordinary shares of 25p 74.5p 40,170,808
C shares of 75p 74.5p 20,612,249
The net asset value per ordinary share is stated after deducting the
interim ordinary share dividend of 3.0p per share for the year ending
30 September 2009, which was declared on 7 May 2009 and paid on 26
June 2009. The net asset value per C share is stated after deducting
the interim C share dividend of 1.0p per share for the year ending 30
September 2009, which was declared on 7 May 2009 and paid on 26 June
2009.
On 26 June 2009 240,946 new ordinary shares were allotted at a price
of 73.2p per share in connection with the company's dividend
investment scheme. No ordinary or C shares were purchased for
cancellation during the quarter. In accordance with the articles of
association, on 29 October 2009 the company's C shares will be
converted into new ordinary shares on a basis reflecting the net
assets per share attributable to the respective pools of funds as at
30 September 2009.
For the purpose of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 June 2009 and unquoted
investments are carried at fair value as at 30 June 2009 as
determined by the directors.
During the three months ended 30 June 2009 there were no significant
investment transactions. On 15 July 2009 the company's ordinary
share pool sold its investment in Liquidlogic Limited, an unquoted
provider of software solutions to public sector clients, for cash
proceeds of £381,000. The book cost of the investment was £56,000
and its carrying value at 30 June 2009 was £381,000. The company may
become entitled to receive additional proceeds depending on the
trading performance of Liquidlogic Limited in the financial year
ending 31 March 2010.
The directors are not aware of any other events or transactions which
have taken place between 31 March 2009 and the date of publication of
this statement and which have had a material effect on the financial
position of the company.
Enquiries:
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191
244 6000
Website: www.nvm.co.uk
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This announcement was originally distributed by Hugin. The issuer is
solely responsible for the content of this announcement.
