Net Asset Value(s)

25 FEBRUARY 2021

NORTHERN VENTURE TRUST PLC

UNAUDITED NET ASSET VALUE AS AT 31 DECEMBER 2020

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 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 unquoted venture capital holdings.  In order to maintain approval by HM Revenue & Customs as a VCT, the Company 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 per ordinary share as at 31 December 2020 was 72.9 pence (30 September 2020 70.7 pence). The net asset value is stated before deducting the final dividend of 2.5 pence per share in respect of the year ended 30 September 2020, which was paid to eligible shareholders on 22 January 2021.

For the purposes of calculating the net asset value per share, quoted investments are carried at bid price as at 31 December 2020 and unquoted investments are carried at fair value as at 31 December 2020 as determined by the directors.

New Investments:

During the three months ended 31 December 2020 no new venture capital investments were completed.

A total of £2,362,000 was invested in eight existing portfolio companies during the quarter.

Realisations:

Name of company	Sale proceeds	Original net cost	Carrying value at 30 Sept 2020
	£000	£000	£000
Agilitas IT Holdings	12,057	943	12,057
Lending Works	256	925	192
It’s All Good	3,224	1,205	2,511
Collagen Solutions PLC	298	321	287

The number of ordinary shares in issue at 31 December 2020 was 158,952,520. During the three months ended 31 December 2020 no shares were allotted and 667,470 shares were re-purchased for cancellation at an average price of 67.2 pence per share.

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.