Investee company - intention to float

8 APRIL 2021

NORTHERN 3 VCT PLC

INVESTEE COMPANY - INTENTION TO FLOAT

The board of Northern 3 VCT PLC (the “Company”) notes the announcement made today that musicMagpie PLC, the holding company of Entertainment Magpie Group Limited and one of the Company's investee companies, is to seek to have its shares admitted to trading on AIM, RNS Number: 8246U.  

Assuming the placing and admission takes place, it is expected that the value of the Company’s investment in musicMagpie PLC will increase by comparison with its current carrying value as reflected in the Company’s unaudited net asset value as at 31 December 2020, which was announced on 25 February 2021.  The Board intends to make a further announcement that will quantify the impact, after pricing has been finalised and the admission has taken place.

Enquiries:

Simon John/James Bryce, NVM Private Equity LLP - 0191 244 6000
Website:  www.nvm.co.uk

Martin Glanfield, Chief Financial Officer Mercia Asset Management PLC - 0330 223 1430
Website: www.mercia.co.uk

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.