Understanding Northern 3 VCT PLC's Financial Position
Northern 3 VCT PLC is a Venture Capital Trust managed by Mercia Fund Management Limited, established in 2001. This trust aims to provide investors with long-term, tax-free returns through dividends and capital growth, focusing primarily on unquoted venture capital holdings. To maintain its VCT status, the company must adhere to regulations set by HM Revenue & Customs.
Unaudited Net Asset Value Overview
As of the end of the year, the unaudited net asset value per ordinary share reached 90.5 pence, a notable increase from 88.5 pence at the previous quarter. This value is calculated before the deduction of an interim dividend of 2.0 pence per share, which was distributed to eligible shareholders not long ago.
Investment Highlights
Recent investments within Northern 3 VCT PLC's portfolio include:
Key Investments and Activities
1. **Semble Technology**: £2,126,000 was invested in this enterprise AI startup, which specializes in automated surgical tray validation. Their innovative approach is poised to enhance operational efficiencies in healthcare.
2. **Scalpel AI**: This healthcare management software company received £1,063,000. They provide essential practice management tools tailored for healthcare professionals.
3. **Napo**: Focusing on pet insurance, Napo offers £2,107,000 in investment with an emphasis on preventative care and a stellar customer experience.
In addition to these new investments, the company allocated £2,506,000 across five existing portfolio firms during the last quarter, reflecting its commitment to solidifying its current investments.
Recent Realisations
During the same period, two significant venture capital investments were realized, contributing to the overall performance of the investment portfolio. The details are as follows:
1. **Grip-UK (t/a The Climbing Hangar)**: This venture realized sale proceeds of £2,494,000 from an original investment of £3,492,000, showcasing continued interest in the climbing sector.
2. **musicMagpie plc**: Another investment yielded £340,000 in sale proceeds, up from its original cost of £201,000.
Share Energy and Market Activity
As of the last reporting date, the company had 145,736,693 ordinary shares in circulation. In the last quarter, a total of 721,334 shares were purchased for cancellation at a price of 84.08 pence each, indicating active market management and commitment to maintaining shareholder value.
Communications
For further inquiries regarding Northern 3 VCT PLC, feel free to reach out to the team at Mercia Asset Management PLC:
Contact: James Sly / Sarah Williams
Phone: 0330 223 1430
Frequently Asked Questions
What is the latest net asset value for Northern 3 VCT PLC?
The latest unaudited net asset value per ordinary share is 90.5 pence.
What types of companies does Northern 3 VCT PLC invest in?
The company primarily invests in unquoted venture capital holdings, particularly in innovative sectors such as technology and healthcare.
How does Northern 3 VCT PLC support its portfolio companies?
Northern 3 VCT PLC supports its portfolio through additional investments and strategic management, aiming for sustained growth and returns.
Who manages Northern 3 VCT PLC?
The company is managed by Mercia Fund Management Limited, focusing on maximizing investor returns through careful portfolio selection.
What was the performance trend of shares in the last quarter?
During the last quarter, the company purchased 721,334 shares for cancellation, showcasing proactive management and a focus on enhancing shareholder value.
