NVTC Nthn.Venture C

 
TIDMNVTC 
 
22 SEPTEMBER 2009 
 
NORTHERN VENTURE TRUST PLC 
 
PORTFOLIO UPDATE 
 
 
Northern Venture Trust PLC ("the Company") announces the sale of its 
investment in DxS Limited, which provides molecular diagnostic 
products and services to the healthcare industry, for initial cash 
proceeds of GBP7.3 million, plus GBP0.9 million by way of accrued loan 
stock interest and preference dividends.  The Company may become 
entitled to receive up to a further GBP5.2 million over the period to 
2012 subject to the achievement by DxS of specified objectives.  The 
investment in DxS was entirely attributable to the Company's ordinary 
share pool and the disposal has no effect on the Company's C shares. 
 
The initial sale price represents an uplift of GBP1.3 million 
(equivalent to 3.3p per ordinary share in the Company) over the 
carrying value of the investment as reflected in the unaudited net 
asset value of 74.5p per ordinary share as at 30 June 2009 which was 
announced by the Company on 30 July 2009. 
 
The Company's ordinary share pool invested a total of GBP1.1 million in 
DxS in a series of early-stage funding rounds led by NVM Private 
Equity between 2001 and 2006.  The total income and capital proceeds 
to date (excluding contingent future payments) represent a money 
multiple of 7.5 times the original investment and an internal rate of 
return (IRR) of 31.7% per annum. 
 
 
Enquiries: 
 
Tim Levett/Christopher Mellor, NVM Private Equity Limited - 0191 244 
6000 
 
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This announcement was originally distributed by Hugin. The issuer is 
solely responsible for the content of this announcement. 
 

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