Portfolio update
(Thomson Reuters ONE) - 22 SEPTEMBER 2009NORTHERN 2 VCT PLCPORTFOLIO UPDATENorthern 2 VCT 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 £4.4 million, plus £0.6 million by way of accrued loanstock interest and preference dividends. The Company may becomeentitled to receive up to a further £3.2 million over the period to2012 subject to the achievement by DxS of specified objectives.The initial sale price has been reflected in the directors' valuationof the investment in DxS as at 31 July 2009 as shown in the unauditedhalf-yearly results for the six months ended 31 July 2009, which havebeen announced by the Company today.The Company invested a total of £0.7 million in DxS in a series ofearly-stage funding rounds led by NVM Private Equity between 2001 and2006. The total income and capital proceeds to date (excludingcontingent future payments) represent a money multiple of 7.5 timesthe original investment and an internal rate of return (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.
Datum: 22.09.2009 - 08:09 Uhr
Sprache: Deutsch
News-ID 6065
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London
Kategorie:
Business News
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