JULY 15, 2022
CPL NORTH 3 VCT
UNAUDITED NET ASSET VALUE AS OF JUNE 30, 2022
Northern 3 VCT PLC (“the Company”) is a venture capital trust (“VCT”) launched in 2001 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 consisting primarily of equity investments – unlisted risk. 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 unaudited net asset value per ordinary share at June 30, 2022 was 96.3 pence (March 31, 2022 (audited) 97.9 pence).
For the purpose of calculating the net asset value per share, listed investments are recorded at bid price as of June 30, 2022 and unlisted investments are recorded at fair value as of June 30, 2022 as determined by the directors.
During the quarter ended June 30, 2022, two new venture capital investments were made.
|Company Name||Commercial activities||Rising
|LMC software||Social assistance management software for retirement homes for the elderly or disabled||850|
|Sen Company||Live streaming high quality video from space||666|
In addition to new investments, over £952,000 was invested in three existing portfolio companies during the quarter.
During the quarter ended June 30, 2022, two venture capital investments were made.
|Company Name||Proceeds from the sale||
|Book value at
March 31, 2022
|Ideagen (AIM quoted) – partial elimination||1,126||117||693|
The number of ordinary shares outstanding as of June 30, 2022 was 125,343,896. During the quarter ended June 30, 2022, 472,428 shares were repurchased for cancellation at an average price of 93.0 pence per share and 16,700,963 shares were awarded under the 2021 tender offer/ 22 of the Company.
James Sly / Graham Venables, Mercia Fund Management Ltd
Telephone: 0330 223 1430
Neither the content of the Mercia Asset Management PLC website, nor the content of any website accessible from hyperlinks on the Mercia Asset Management PLC website (or any other website), is incorporated into, or forms part of of, this ad.