Net asset value

0


JULY 20, 2021

NORTHERN 2 VCT PLC

UNAUDITED NET ASSET VALUE AT JUNE 30, 2021

Northern 2 VCT PLC (“the Company”) is a venture capital trust (“VCT”) launched in 1999 and managed by Mercia Fund Management Limited. The Company’s objective is to provide investors with high, long-term tax-free returns through a combination of dividend yield and capital growth, by investing in a portfolio of investments comprising primarily non-equity venture capital holdings. listed. In order to maintain approval by HM Revenue & Customs as a VCT, the Company is required to comply at all times with the provisions of Section 274 of the Income Tax Act 2007.

The net asset value per unaudited common share as of June 30, 2021 was 72.2 pence (March 31, 2021 (audited) 71.3 pence). The net asset value is shown before deduction of the second interim (special) dividend of 4.0 pence per share and the proposed final dividend of 1.5 pence per share for the fiscal year ended March 31, 2021, which will be , subject to shareholder approval at the annual general meeting on August 31, 2021, will be paid to eligible shareholders on September 10, 2021.

For the purpose of calculating the net asset value per share, listed investments are recorded at the bid price on June 30, 2021 and unlisted investments are recorded at fair value on June 30, 2021 as determined by the directors.

New investments:

During the quarter ended June 30, 2021, a new venture capital investment was made.

Company Name

Commercial activities

Quantity
invested
£ 000

Naive Technologies Limited

Artificial intelligence-enabled medical diagnostics

731

In addition to the new investment above, a total of £ 1,572,000 was invested in five existing portfolio companies during the quarter.

Achievements:

Company Name

Sale proceeds

Original cost

Book value at

March 31, 2021

£ 000

£ 000

£ 000

musicMagpie (partial realization)

8 814

1,281

8 814

Soda software labs

1,279

1499

1,574

Tech-hungry

333

1,777

437

The number of ordinary shares outstanding as of June 30, 2021 was 162,184,097. During the quarter ended June 30, 2021, no shares were granted and no shares were purchased for cancellation during the period. .

Surveys:

Simon John / James Bryce, NVM Private Equity LLP – 0191 244 6000

Martin Glanfield, Chief Financial Officer, Mercia Asset Management PLC – 0330 223 1430

Website: www.mercia.co.uk

Neither the content of the NVM Private Equity LLP or Mercia Asset Management PLC website, nor the content of any website accessible from hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC website (or any other website), are not integrated or form part of this advertisement.


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