NTV Northern 2 VCT PLC

Admission to AIM of musicMagpie plc

Admission to AIM of musicMagpie plc

22 APRIL 2021

NORTHERN 2 VCT PLC 

Admission to AIM of musicMagpie plc

The board of Northern 2 VCT PLC (the “Company”) is pleased to announce that its investee company musicMagpie plc (“musicMagpie”), the holding company of Entertainment Magpie Group Limited, was earlier today admitted to trading on AIM, alongside a placing of new and existing shares. The placing price of these shares was £1.93 per share, valuing musicMagpie at a market capitalisation of £208 million.

The Company sold 4,147,981 shares as part of the placing and realised cash proceeds of £7.8 million (net of transaction costs). As part of this transaction, the Company will also receive payment for its outstanding loan stock of £1.1 million.

Following completion of the placing, the Company now holds 4,147,982 shares in musicMagpie. Based upon the placing price of £1.93 per share, this holding is valued at £8.0 million. The board has supported the management team of musicMagpie through its growth strategy since 2015 and is pleased to retain this equity stake, representing 3.8% of the total outstanding share capital. Taken together with the realised proceeds described above and the total investment income received to date of £0.6 million, a return of 11.6 times has been achieved on the Company’s total original investment amount.

The realisation of sale proceeds outlined above, combined with the uplift in the value of the musicMagpie shares held by the Company, represents an uplift in valuation of £6.0 million, compared to the value included in the Company's unaudited Net Asset Value ("NAV") per share at 31 December 2020 (published on 25 February 2021). This is an increase of 3.7 pence per share over the unaudited NAV per share at 31 December 2020 of 66.1 pence. The Company emphasises that this increase in unaudited NAV per share is in isolation from any other changes in the Company's balance sheet, including valuation and other transaction movements in the Company's investment portfolio that may also have affected the NAV per share since 31 December 2020.

Enquiries:

Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000

Website:

Martin Glanfield, Chief Financial Officer Mercia Asset Management PLC - 0330 223 1430

Website:

Neither the contents of the NVM Private Equity LLP or the Mercia Asset Management PLC website, nor the contents of any website accessible from hyperlinks on the NVM Private Equity LLP or Mercia Asset Management PLC website (or any other website), is incorporated into, or forms part of, this announcement.



EN
22/04/2021

Underlying

NTVNorthern 2 VCT PLC

To request access to management, click here to engage with our
partner Phoenix-IR's CorporateAccessNetwork.com

Reports on Northern 2 VCT PLC

 PRESS RELEASE
Free
NTV Northern 2 VCT ...

Net Asset Value(s)

Net Asset Value(s) 8 August 2025 NORTHERN 2 VCT PLC UNAUDITED NET ASSET VALUE AS AT 30 JUNE 2025 Northern 2 VCT PLC (“the Company”) is a Venture Capital Trust (“VCT”) launched in 1999 and managed by Mercia Fund Management Limited. The Company’s objective is to provide long-term tax-free returns to investors through a combination of dividend yield and capital growth, by investing in a portfolio of investments mainly comprising unquoted venture capital holdings. In order to maintain approval by HM Revenue & Customs as a VCT, the Company is required to comply on a continuing basis with the ...

August 8, 2025 1 EN
 PRESS RELEASE
Free
NTV Northern 2 VCT ...

Result of AGM

Result of AGM 6 AUGUST 2025 NORTHERN 2 VCT PLC RESULT OF ANNUAL GENERAL MEETING Northern 2 VCT PLC (“the Company”) announces that, at the Annual General Meeting held on 6 August 2025, all of the resolutions set out in the notice of the meeting were duly passed by shareholders. The resolutions included those to re-elect as directors Mr Thomas Chambers, Mr David Gravells, Mr Simon Devonshire and Ms Ranjan Ramparia. Ms Cecilia McAnulty did not stand for re-election at the AGM and retired as a director of the Company at the conclusion of the AGM. Whilst Mr Gravells has been re-elected as...

August 6, 2025 1 EN
 PRESS RELEASE
Free
NTV Northern 2 VCT ...

Total voting rights

Total voting rights 31 JULY 2025 NORTHERN 2 VCT PLC TOTAL VOTING RIGHTS  In conformity with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (the “DTRs”), Northern 2 VCT PLC (the “Company”) notifies the market that the capital of the Company as at 31 July 2025 consists of 241,924,367 ordinary shares with a nominal value of 5p each. All the ordinary shares have voting rights. The Company does not hold any ordinary shares in treasury. The total number of voting rights in the Company is therefore 241,924,367 (“the Figure”). The Figure may be used by a shareholde...

July 31, 2025 1 EN
 PRESS RELEASE
Free
NTV Northern 2 VCT ...

Annual Financial Report and Notice of AGM

Annual Financial Report and Notice of AGM 25 JULY 2025 NORTHERN 2 VCT PLC ANNUAL REPORT AND FINANCIAL STATEMENTS AND NOTICE OF ANNUAL GENERAL MEETING The annual report and financial statements of Northern 2 VCT PLC (“the Company”) for the year ended 31 March 2025 (“the Annual Report”) and a circular to shareholders including the notice of the 2025 Annual General Meeting, to be held on Wednesday 6 August 2025 (“the Circular”) have been submitted to the National Storage Mechanism. Copies of the Annual Report and the Circular are also available on the Company’s website at: Enquiries: ...

July 25, 2025 1 EN
 PRESS RELEASE
Free
NTV Northern 2 VCT ...

Transaction in Own Shares

Transaction in Own Shares 3 JULY 2025 NORTHERN 2 VCT PLC TRANSACTION IN OWN SHARES  Northern 2 VCT PLC (“the Company”) announces that on 2 July 2025 it purchased for cancellation under an existing authority granted by shareholders 3,460,241 ordinary shares of 5p each in the market at a price of 55.39p per share, representing approximately 1.41% of the Company's issued ordinary share capital. There remain 241,924,367 ordinary shares in issue.  In conformity with the Financial Conduct Authority’s Disclosure Guidance and Transparency Rules (the “DTRs”), the Company notifies the market tha...

July 3, 2025 1 EN

ResearchPool Subscriptions

Get the most out of your insights

Get in touch