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Northern Investors Company PLC sells investment in Alaric Systems Limited


Tuesday, 3 Dec 2013 02:00am EST 

Northern Investors Company PLC:Says it has sold its investment in Alaric Systems Limited (Alaric), which provides payment processing and fraud prevention software, to a subsidiary of NCR Corporation.Says it has received cash proceeds of 5.06 million pounds for its holding of ordinary shares and loan stock in Alaric.Says the carrying value of the investment in Alaric in Northern Investors' unaudited half-yearly financial statements for the six months ended Sep. 30, published on Nov. 12, was 4.15 million pounds.Says the uplift in Northern Investors' net assets resulting from the sale is therefore 0.91 million pounds, equivalent to approximately 7.5p per share.Says Northern Investors has also received accrued loan stock interest from Alaric totalling 0.34 million pounds, equivalent (after providing for corporation tax) to approximately 2.1p per share, which was not recognised in the financial statements as at Sep. 30.Says Northern Investors may become entitled to receive further sale proceeds of up to 0.91 million pounds over the period to Dec. 2017, which will be recognised in the financial statements as and when received. 

Company Quote

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29 Jul 2014