Portfolio update

(Thomson Reuters ONE) - 22 SEPTEMBER 2009NORTHERN VENTURE TRUST PLCPORTFOLIO UPDATENorthern Venture Trust PLC ("the Company") announces the sale of itsinvestment in DxS Limited, which provides molecular diagnosticproducts and services to the healthcare industry, for initial cashproceeds of £7.3 million, plus £0.9 million by way of accrued loanstock interest and preference dividends. The Company may becomeentitled to receive up to a further £5.2 million over the period to2012 subject to the achievement by DxS of specified objectives. Theinvestment in DxS was entirely attributable to the Company's ordinaryshare pool and the disposal has no effect on the Company's C shares.The initial sale price represents an uplift of £1.3 million(equivalent to 3.3p per ordinary share in the Company) over thecarrying value of the investment as reflected in the unaudited netasset value of 74.5p per ordinary share as at 30 June 2009 which wasannounced by the Company on 30 July 2009.The Company's ordinary share pool invested a total of £1.1 million inDxS in a series of early-stage funding rounds led by NVM PrivateEquity between 2001 and 2006. The total income and capital proceedsto date (excluding contingent future payments) represent a moneymultiple of 7.5 times the original investment and an internal rate ofreturn (IRR) of 31.7% per annum.Enquiries:Tim Levett/Christopher Mellor, NVM Private Equity Limited - 0191 2446000---END OF MESSAGE---This announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.

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Bereitgestellt von Benutzer: hugin
Datum: 22.09.2009 - 08:04 Uhr
Sprache: Deutsch
News-ID 6052
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