Interim Management Statement
March 14 2011 - 4:00AM
UK Regulatory
TIDMNNA
14 MARCH 2011
NORTHERN AIM VCT PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 31 JANUARY 2011
Northern AIM VCT PLC presents its interim management statement for the quarter
ended 31 January 2011. This constitutes the company's first interim management
statement for the financial year ending 31 October 2011, as required by the UK
Listing Authority's Disclosure Rules and Transparency Rules, Rule 4.3.
The company's objective is to provide high long-term tax-free returns to
investors through a combination of dividend yield and capital growth, by
investing in a portfolio of investments mainly comprising holdings in UK AIM-
quoted and unquoted companies. The company is a venture capital trust approved
by HM Revenue & Customs and is required to comply on a continuing basis with the
provisions of Section 274 of the Income Tax Act 2007.
The unaudited net asset value (NAV) per ordinary share as at 31 January 2011 was
32.6p (31 October 2010 (audited) 31.6p). The net asset value is stated before
deducting the final dividend of 3.0p per share in respect of the financial year
ended 31 October 2010, which was approved by shareholders at the annual general
meeting on 11 March 2011 and will be paid on 18 March 2011.
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 31 January 2011 and unquoted
investments are carried at fair value as at 31 January 2011 as determined by the
directors.
The following table shows the movement in the company's NAV and share price and
the FTSE AIM index during the three months ended 31 January 2011:
31 January 2011 31 October 2010 Increase/decrease
during period
NAV per share 32.6p 31.6p +3.2%
Share price 28.0p 25.5p +9.8%
FTSE AIM All-share index 940.3 814.4 +15.5%
There were no significant investment acquisitions or disposals during the three
months ended 31 January 2011.
The number of ordinary shares in issue at 31 January 2011 was 22,321,112.
During the quarter ended 31 January 2011 no shares were allotted or bought back
for cancellation by the company.
The directors are not aware of any other events or transactions which have taken
place between 31 October 2010 and the date of publication of this statement and
which have had a material effect on the financial position of the company.
This statement has been prepared solely to provide additional information in
order to meet the requirements of the Disclosure Rules and Transparency Rules
and should not be relied on by shareholders, or any other party, for any other
purpose.
Enquiries:
Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000
Website: www.nvm.co.uk
Neither the contents of the NVM Private Equity Limited website nor the contents
of any website accessible from hyperlinks on the NVM Private Equity Limited
website (or any other website) is incorporated into, or forms part of, this
announcement.
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Northern AIM VCT PLC via Thomson Reuters ONE
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