NTV Northern 2 Vct Plc

 
TIDMNTV 
 
20 NOVEMBER 2009 
 
NORTHERN 2 VCT PLC 
 
INTERIM MANAGEMENT STATEMENT 
FOR THE QUARTER ENDED 31 OCTOBER 2009 
 
Northern 2 VCT PLC presents its interim management statement for  the 
three months ended 31 October  2009.  This constitutes the  company's 
second interim management statement for the financial year ending  31 
January 2010, 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 
2009 was 78.6p (31 July 2009  77.1p).  The net asset value is  stated 
before deducting the interim dividend of 2.0p per share in respect of 
the year ending 31 January 2010,  which was declared on 22  September 
2009 and will be paid to eligible shareholders on 4 December 2009. 
 
The number  of  ordinary shares  in  issue  at 31  October  2009  was 
56,961,608.  During the  three months  ended 31 October  2009 no  new 
ordinary  shares  were  issued   and  75,000  ordinary  shares   were 
re-purchased by the company for cancellation at a price of 56.5p  per 
share. 
 
For the purposes of calculating the net asset value per share, quoted 
investments are carried at bid price as at 31 October 2009 and 
unquoted investments are carried at fair value as at 31 October 2009 
as determined by the directors. 
 
During  the  three  months  ended  31  October  2009  the   following 
significant investment  transactions took  place (companies  unquoted 
except where otherwise indicated): 
 
New investments: 
 
 
Name of company                 Business activity              Amount 
                                                             invested 
                                                                 GBP000 
Connaught plc (listed on London Integrated services provider      119 
Stock Exchange) (acquired in    to the social housing, 
exchange for holding in         public sector and compliance 
Fountains plc)                  markets. 
 
 
Realisations: 
 
 
                                                             Carrying 
                                                             value at 
                                          Sales   Original    31 July 
Name of company                        proceeds       cost       2009 
                                           GBP000       GBP000       GBP000 
 
DxS Limited (trade sale for cash)         4,455        685      4,395 
Fountains plc (acquired by                  119        166        113 
Connaught plc in share-for-share 
deal) 
John Fredericks Plastics Limited            149        961          - 
(trade sale for cash) 
 
 
In November 2009 the company sold its investment in Abermed Limited 
for cash proceeds of GBP1,241,000 (original cost GBP725,000, carrying 
value at 31 July 2009 GBP1,059,000). 
 
The directors are not aware of any other events or transactions which 
have taken place between 31 July 2009 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 
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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