Northern Investors has received £4.3m from the sale or partial sale of two of its portfolio holdings.
The company last week exited from its investment in Mantis Deposition Holdings Ltd as part of a financial restructuring in which three venture capital trusts managed by NVM Private Equity Ltd provided additional long-term capital for Mantis.
Northern Investors received £690,000 by way of loan repayments from Mantis and sold its ordinary shares in Mantis to the Northern VCTs for an aggregate consideration of £38,000.
Also last week, Northern Investors’ holding of £3,578,000 loan notes in Kerridge Commercial Systems Ltd was redeemed by Kerridge at par.
These transactions result in no significant change to Northern Investors’ last reported net asset value of 375.3p per share as at September 30.