Northern 3 VCT plc results

Northern 3 VCT plc, a vehicle managed by Northern Venture Managers, has recently announced its interim results for the six month period ending 31 March 2003. The unaudited NAV per share was 95.5p, down by 1.4% compared with the figure of 96.9p at 30 September 2002. During the same period the FTSE AIM index fell by 10.3% and the FTSE all share fell by 3.7%. New investments during the period include Crantock Bakery, Arrow Industrial Group, RBF Industries, Longhirst Group, Alizyme and Crabtree of Gateshead. In January the company also announced the launch of a new public share issue with the aim of raising up to £15m in additional capital for investment. Due to the difficulties of the present fundraising environment, only £3m of this amount was actually raised, despite a two month extension to the fundraising period until June.

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