Northern 2 VCT PLC Net Asset Value(s)
March 25 2020 - 10:50AM
UK Regulatory
TIDMNTV
25 MARCH 2020
NORTHERN 2 VCT PLC
UNAUDITED NET ASSET VALUE AS AT 24 MARCH 2020
The Board of Northern 2 VCT PLC (the "Company") has been monitoring the
ongoing disruption being caused by COVID-19 and, in particular, its
current and potential impact on portfolio companies. In light of this,
the Board announces that the unaudited net asset value per ordinary
share as at 24 March 2020 was 50.0 pence (31 December 2019 (unaudited)
63.8 pence). The unaudited net asset value is stated after deducting the
interim dividend of 2.0 pence per share in respect of the year ended 31
March 2020, which was paid to eligible shareholders on 24 January 2020.
For the purposes of calculating the unaudited net asset value per share,
quoted investments are carried at bid price as at 24 March 2020 and
unquoted investments are carried at fair value as at 24 March 2020 as
determined by the directors, as advised by the Company's investment
adviser, Mercia Fund Management Limited.
The number of ordinary shares in issue at 24 March 2020 was 139,158,756.
In relation to the offer for new shares pursuant to the prospectus dated
9 January 2020, the Company intends to allot Offer Shares on or around 2
April 2020. Subject to FCA approval, the Company intends shortly to
publish a supplementary prospectus reflecting the fact that the
publication of the updated unaudited NAV as at 24 March 2020 reflects a
significant new factor for consideration by prospective investors. Upon
the FCA approving the supplementary prospectus, investors who have
already submitted application forms for Offer Shares will have a period
of 48 hours in which they may withdraw such applications, should they
wish to do so, under section 87Q(4)--(6) of FSMA. Further details of
this right, including the deadline for withdrawal, will be contained in
the supplementary prospectus, which will be available at
https://nvm.co.uk/investor-area/vcts/.
Enquiries:
Simon John/James Bryce, NVM Private Equity LLP -- 0191 244 6000
Website: www.nvm.co.uk
Martin Glanfield, Chief Financial Officer, Mercia Asset Management PLC
-- 0330 223 1430
Website: www.mercia.co.uk
Neither the contents of the NVM Private Equity LLP or the Mercia Asset
Management PLC website, nor the contents of any website accessible from
hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC
website (or any other website), are incorporated into, or forms part of,
this announcement.
(END) Dow Jones Newswires
March 25, 2020 10:50 ET (14:50 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
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