RNS Number : 6576I
  Northern 2 VCT PLC
  21 November 2008
   
    21 NOVEMBER 2008

    NORTHERN 2 VCT PLC

    INTERIM MANAGEMENT STATEMENT
    FOR THE QUARTER ENDED 31 OCTOBER 2008

    Northern 2 VCT PLC presents its interim management statement for the three months ended 31 October 2008. This constitutes the company's 
second interim management statement for the financial  year ending 31 January 2009, as required by the UK Listing Authority's Disclosure and
Transparency Rule 4.3.

    The unaudited net asset value per ordinary share as at 31  October  2008 was 76.7p (31 July 2008 83.3p).  The net asset value is stated
before deducting the interim dividend of 2.0p per share in respect of the year ending 31 January 2009, which was declared on 19 September
2008 and will be paid to eligible shareholders on 5 December 2008.

    The number of ordinary shares in issue at 31 October 2008 was  56,703,730.  During the three months ended 31 October 2008 no new 
ordinary shares were issued and no shares were re-purchased by the company for cancellation.

    For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 October  2008  and
unquoted investments are carried at fair value as at 31  October  2008 as determined by the directors.

    During the three months ended 31 October 2008 the following significant investment transactions took place (all companies unquoted
except where otherwise indicated):

    New investments:

 Name of company                 Business activity                                           Amount
                                                                                           invested
                                                                                               �000
 Advanced Computer Software      Provision of specialised software and services to the          429
 (AIM-quoted)                    healthcare market
 CloserStill Holdings            Business-to-business exhibitions and events                  1,000
 Britspace Holdings*             Manufacture of modular buildings                             1,138
    *Additional investment in existing portfolio company

    Realisations:

    There were no significant realisations in the three months ended 31 October 2008.

    On 18 November 2008 the company sold its investment in Stainton Metal Company Limited for �1.8 million in cash. The original cost of the
investment was �1.0 million and its carrying value at 31 October 2008 was �1.8 million.  The company may become entitled to receive
additional proceeds depending on the trading performance of Stainton Metal Company Limited in the financial year ending 30 September 2009.

    The directors are not aware of any other events or transactions which have taken place between 31 October 2008 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

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
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