Northern Inv. Co PLC Portfolio Update

 
TIDMNRI 
 
 
   28 SEPTEMBER 2018 
 
   NORTHERN INVESTORS COMPANY PLC 
 
   PORTFOLIO UPDATE 
 
   Northern Investors Company PLC ("Northern Investors") announces the sale 
of its investment in CGI Group Holdings ("CGI"), which manufactures 
fire-resistant glass under the Pyroguard brand. 
 
   Northern Investors has received cash proceeds of GBP1.75 million for its 
holding of ordinary shares and loan stock in CGI, plus GBP0.12 million 
in respect of arrears of loan stock interest not previously recognised. 
The directors' valuation of the investment in CGI for the purposes of 
calculating the unaudited net asset value of Northern Investors as at 30 
June 2018, which was announced on 10 July 2018, was GBP1.66 million. 
The uplift in Northern Investors' net assets resulting from the 
realisation is therefore GBP0.21 million, equivalent to approximately 
8.4 pence per share based on the 2,496,767 shares currently in issue. 
 
   Following the sale of CGI, Northern Investors' residual investment 
portfolio now comprises three unquoted investments with a carrying value 
as at 30 June 2018 of GBP4.0 million.  The directors' next review of 
investment valuations will take place as at 30 September 2018 and will 
be reflected in the half-yearly results for the six months ending 30 
September 2018, which are expected to be announced in November 2018. 
 
   As previously reported, the directors intend to put proposals to 
shareholders before the end of 2018 for a members' voluntary liquidation 
of Northern Investors, with the aim of facilitating on a cost-effective 
basis the realisation of the remaining investments and the tax-efficient 
distribution of funds to shareholders. 
 
   For further information, please contact: 
 
   Northern Investors Company PLC 
 
   Nigel Guy/James Bryce                                                                         0191 244 6000 
 
 
   Website:  www.nvm.co.uk 
 
   Neither the contents of the NVM Private Equity LLP website nor the 
contents of any website accessible from hyperlinks on the NVM Private 
Equity LLP website (or any other website) is incorporated into, or forms 
part of, this announcement.

(END) Dow Jones Newswires

September 28, 2018 02:00 ET (06:00 GMT)

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