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13 MAY 2010
NORTHERN 2 VCT PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 APRIL 2010
Northern 2 VCT PLC presents its interim management statement for the three
months ended 30 April 2010. This constitutes the company's first interim
management statement for the financial year ending 31 January 2011, as required
by the UK Listing Authority's Disclosure and Transparency Rule 4.3.
The unaudited net asset value per ordinary share as at 30 April 2010 was 78.9p
(31 January 2010 (audited) 77.9p). The net asset value is stated before
deducting the final dividend of 3.5p per share in respect of the year ended 31
January 2010, which was approved by shareholders at the annual general meeting
on 13 May 2010 and will be paid to eligible shareholders on 4 June 2010.
The number of ordinary shares in issue at 30 April 2010 was 56,703,761. During
the three months ended 30 April 2010 no new ordinary shares were issued and
200,000 shares were re-purchased by the company for cancellation at a price of
62p per share.
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 April 2010 and unquoted
investments are carried at fair value as at 30 April 2010 as determined by the
During the three months ended 30 April 2010 the following significant investment
transactions took place (companies unquoted except where otherwise indicated):
Name of company Business activity invested
Lanner Group Limited Developer of business process 772
Kerridge Commercial Systems Developer of software for the 1,740
Limited distribution sector
RCC Lifesciences Limited Acquisition of pharmaceutical and 995
medical devices businesses
Ingleby (1840) Limited Investment in manufacturing and 995
The directors are not aware of any other events or transactions which have taken
place between 31 January 2010 and the date of publication of this statement and
which have had a material effect on the financial position of the company.
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website: www.nvm.co.uk <https://nvm.co.uk/>
(END) Dow Jones Newswires
May 13, 2010 10:38 ET (14:38 GMT)