Northern Inv. Co PLC: Disposal | Company Announcements

Friday 30 May, 2008

Northern Inv. Co PLC

Disposal

RNS Number : 6337V

Northern Investors Co PLC

30 May 2008

30 MAY 2008

NORTHERN INVESTORS COMPANY PLC

SALE OF PRODUCT SUPPORT (HOLDINGS) LIMITED

Northern Investors Company PLC announces the sale of its investment in Product Support (Holdings) Limited ('PSL') to Wincanton plc for total proceeds of £7.35 million in cash. This represents an uplift of £1.62 million (equivalent to 8.3p per ordinary share) over the carrying value of the investment as shown in the company's audited financial statements as at 31 March 2008.

Northern Investors Company PLC invested £3.70 million in the management buy-out of PSL in December 2006, alongside investments by other venture capital funds managed by NVM Private Equity, and has received total capital and income payments of £7.80 million from the holding. This represents an internal rate of return (IRR) of 70% per annum over the period of the investment and a money multiple of 2.1 times.

Enquiries:

Alastair Conn/Christopher Mellor, NVM Private Equity Limited - 0191 244 6000

This information is provided by RNS

The company news service from the London Stock Exchange

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