11 APRIL 2017
NORTHERN INVESTORS COMPANY PLC
PORTFOLIO UPDATE
Northern Investors Company PLC ("Northern Investors") announces the sale of its investment in Optilan Group ("Optilan"), a leading provider of telecommunications systems integration services, through a secondary management buy-out transaction with Blue Water Energy LLP.
Northern Investors has received initial cash proceeds of £4.18 million for its holding of ordinary shares and loan stock in Optilan, plus £0.73 million in respect of arrears of loan stock interest not previously recognised. The directors' valuation of the investment in Optilan for the purposes of calculating the unaudited net asset value as at 31 December 2016, which was announced on 15 February 2017, was £4.21 million. The uplift in Northern Investors' net assets resulting from the realisation is therefore £0.70 million, equivalent to approximately 28.0 pence per share based on the 2,496,767 shares currently in issue.
Northern Investors may become entitled to receive further sale proceeds of up to £0.58 million depending on Optilan's future performance. These proceeds will be recognised in the financial statements as and when received.
In accordance with Northern Investors' policy of realising its investment portfolio and returning funds to shareholders, the directors will make an announcement in due course setting out proposals for a further cash distribution.
For further information, please contact:
Northern Investors Company PLC
Nigel Guy/Christopher Mellor 0191 244 6000
Stifel Nicolaus Europe Limited
Neil Winward/Mark Bloomfield/Gaudi le Roux 020 7710 7600
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.