30 JULY 2009
NORTHERN INVESTORS COMPANY PLC
INTERIM MANAGEMENT STATEMENT
FOR THE QUARTER ENDED 30 JUNE 2009
Northern Investors Company PLC presents its interim management
statement for the quarter ended 30 June 2009. This constitutes the
company's first interim management statement for the financial year
ending 31 March 2010, as required by the UK Listing Authority's
Disclosure and Transparency Rule 4.3. This statement has been
prepared solely to provide additional information in order to meet
the requirements of the Disclosure and Transparency Rules and should
not be relied on by shareholders, or any other party, for any other
purpose.
The unaudited net asset value per ordinary share as at 30 June 2009
was 242.6p (31 March 2009 (audited) 243.9p). The net asset value is
stated after deducting the final dividend of 5.1p per share in
respect of the year ended 31 March 2009, which was approved by
shareholders at the annual general meeting on 24 June 2009 and was
paid on 3 July 2009.
The number of ordinary shares in issue at 30 June 2009 was 19,395,440
(31 March 2009 19,395,440). No shares were allotted or re-purchased
during the quarter.
For the purposes of calculating the net asset value per share, quoted
investments are carried at bid price as at 30 June 2009 and unquoted
investments are carried at fair value as at 30 June 2009 as
determined by the directors.
Net assets at 30 June 2009 comprised the following:
% of
£000 net assets
Unquoted investments at fair value
as determined by the directors 32,510 69.1
Quoted investments at bid price 347 0.7
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Total fixed asset investments 32,857 69.8
Net current assets 14,190 30.2
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Net assets 47,047 100.0
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During the three months ended 30 June 2009 there were no significant
investment transactions. On 15 July 2009 the company sold its
investment in Liquidlogic Limited, an unquoted provider of software
solutions to public sector clients, for cash proceeds of £1,232,000.
The book cost of the investment was £175,000 and its carrying value
at 30 June 2009 was £1,232,000. The company may become entitled to
receive additional proceeds depending on the trading performance of
Liquidlogic Limited in the financial year ending 31 March 2010.
The directors are not aware of any other events or transactions which
have taken place between 31 March 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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