JULY 15, 2022
NORTHERN VENTURE TRUST PLC
UNAUDITED NET ASSET VALUE AS OF JUNE 30, 2022
Northern Venture Trust PLC (“the Company”) is a venture capital trust (“VCT”) launched in 1995 and advised by Mercia Fund Management Limited. The Company’s objective is to provide investors with high long-term tax-free returns through a combination of dividend yield and capital growth, by investing in a portfolio of investments consisting primarily of equity investments – unlisted risk. In order to maintain approval by HM Revenue & Customs as a VCT, the Company is required to comply at all times with the provisions of Section 274 of the Income Tax Act 2007.
The unaudited net asset value per ordinary share at June 30, 2022 was 66.6 pence (March 31, 2022 68.4 pence).
For the purpose of calculating the net asset value per share, listed investments are recorded at bid price as of June 30, 2022 and unlisted investments are recorded at fair value as of June 30, 2022 as determined by the directors.
During the quarter ended June 30, 2022, two new venture capital investments were made.
|Company Name||Commercial activities||Rising
|LMC software||Social assistance management software for retirement homes for the elderly or disabled||868|
|Sen Company||Live streaming high quality video from space||681|
In addition to the new investments above, £1,046,000 was invested in three existing portfolio companies during the quarter.
During the quarter ended June 30, 2022, two venture capital investments were made.
|Company Name||Proceeds from the sale||
|Book value at
March 31, 2022
|Ideagen (AIM quoted) – partial elimination||114||11||70|
The number of ordinary shares outstanding as of June 30, 2022 was 168,431,330. During the quarter ended June 30, 2022, 592,530 shares were purchased for cancellation at an average price of 65.0 pence per share and 8,449,994 shares were awarded under the 2021 tender offer/ 22 of the Company.
James Sly / Graham Venables, Mercia Fund Management Ltd
Telephone: 0330 223 1430
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