Two 59%+ winners, four above 25% in Aug – How this AI model keeps picking winners
LONDON - Northern 3 VCT PLC reported a net asset value (NAV) per share of 90.0 pence as of March 31, 2025, up from 89.3 pence a year earlier, with a total return per share of 4.8 pence for the financial year.
The venture capital trust, managed by Mercia Fund Management, declared a final dividend of 2.5 pence per share, bringing the total dividend for the year to 4.5 pence, representing a 5.0% yield on opening NAV.
Net assets increased to £130.1 million from £122.5 million in the previous year. The company’s investment portfolio saw several successful developments, with Pure Pet Food and Project Glow Topco (trading as The Beauty Tech Group) each increasing in value by over £3 million.
During the year, the company realized £9.9 million from sales in the venture portfolio against an initial cost of £8.1 million. The most notable exit was Gentronix, which generated net proceeds of £3.6 million compared to an original investment of £0.8 million.
The company invested £9.5 million in six new venture capital investments and provided £5.4 million in follow-on funding to existing portfolio companies.
"Despite recent US economic policy, global conflict and stubbornly high UK inflation, the Manager continues to see high-quality investment opportunities," said James Ferguson, Chairman of Northern 3 VCT.
Following a formal audit tender process, the board intends to recommend Johnston Carmichael LLP for appointment as the company’s auditor for the financial year ending March 31, 2026, subject to shareholder approval.
The company plans to raise up to £20 million in the 2025/26 tax year, comprising a £14 million offer with a potential £6 million overallotment facility.
This article is based on a press release statement from Northern 3 VCT PLC.
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