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28 JULY 2011
NORTHERN INVESTORS COMPANY PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 JUNE 2011
Northern Investors Company PLC presents its interim management statement for the quarter ended 30 June 2011. This constitutes the company’s first interim management statement for the financial year ending 31 March 2012, as required by the UK Listing Authority’s Disclosure Rules and Transparency Rules, Rule 4.3.
The unaudited net asset value per ordinary share as at 30 June 2011 was 306.8p (31 March 2011 (audited) 304.1p). The net asset value is stated before deducting the final dividend of 5.8p per share in respect of the year ended 31 March 2011, which was approved by shareholders at the annual general meeting on 21 July 2011 and was paid on 22 July 2011.
The number of ordinary shares in issue at 30 June 2011 was 19,395,440 (31 March 2011 19,395,440). No shares were allotted or re-purchased during the quarter.
For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 30 June 2011 and unquoted investments are carried at fair value as at 30 June 2011 as determined by the directors.
Net assets at 30 June 2011 comprised the following:
|Unquoted investments at fair value|
|as determined by the directors||47,621||80.0|
|Quoted investments at bid price||27||0.1|
|Total fixed asset investments||47,648||80.1|
|Net current assets||11,865||19.9|
During the three months ended 30 June 2011 the following significant investment transactions took place:
Name of company
|Paladin Group Limited*||Integrated commercial and residential property services||250|
*Additional investment in existing portfolio company
|Name of company||proceeds||cost||2011|
|Britspace Group Limited||–||2,381||–|
At a general meeting on 21 July 2011 shareholders approved resolutions to change the company’s investment policy, change the terms of the investment management agreement, amend the articles of association and cancel the share premium account.
The directors are not aware of any other events or transactions which have taken place between 31 March 2011 and the date of publication of this statement and which have had a material effect on the financial position of the company.
This statement has been prepared solely to provide additional information in order to meet the requirements of the Disclosure Rules and Transparency Rules and should not be relied on by shareholders, or any other party, for any other purpose.
Northern Investors Company PLC
Christopher Mellor 0191 244 6000
Joe Winkley/Emma Griffin 020 7710 7600
Neither the contents of the NVM Private Equity Limited website nor the contents of any website accessible from hyperlinks on the NVM Private Equity Limited website (or any other website) is incorporated into, or forms part of, this announcement.
The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and other applicable laws; and
(ii) they are solely responsible for the content, accuracy and originality of the
information contained therein.
Source: Northern Investors Co PLC via Thomson Reuters ONE