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NORTHERN VENTURE TRUST PLC
17 FEBRUARY 2006
UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2005
Northern Venture Trust PLC announces that the unaudited net asset value per
ordinary share as at 31 December 2005 was 81.0p. The net asset value is stated
after deducting the final dividend of 6.0p per share in respect of the year
ended 30 September 2005, which was approved by shareholders at the annual
general meeting on 14 December 2005 and paid on 16 December 2005.
The basis of calculation of the company’s net asset value has changed to reflect
the requirements of those UK Financial Reporting Standards which will be
applicable to the company’s published accounts for the first time in the year
ending 30 September 2006. In particular, quoted investments are now carried at
bid rather than mid-market prices and proposed dividends are not provided for
until a liability to pay has been established.
For comparative purposes, the net asset value per share as at 30 September 2005
restated on the same basis was 85.8p. The following table reconciles this figure
with the net asset value per share of 80.2p reported in the company’s
preliminary announcement dated 7 November 2005 of results for the year ended 30
Pence per share
Net asset value at 30 September 2005 – as previously
Less: adjustment in valuation of quoted investments to bid
Add: proposed final dividend for year ended 30 September
Net asset value at 30 September 2005 – as restated 85.8
The number of ordinary shares in issue at 31 December 2005 was 39,126,102.
Alastair Conn, Northern Venture Managers Limited – 0191 244 6000
This information is provided by RNS
The company news service from the London Stock Exchange