NVM stable

[UncleEbenezer]

Where are the Northerns?

Last year N2 and N3 published annual reports mid-June and paid divis in July. N1 somewhat earlier, with its interim report on May 31st and divi in June. This year it seems, silence from all of them.

Have I missed something?

[james188]

They each issued an RNS on 17th June, announcing that they would be issuing reports in July - delayed due to COVID 19. Financial timetables have been updated on the relevant Northern websites (Investor Area).

[flyer61]

The financial calendar for the year ending 30 September 2020 is as follows:

July 2020 Interim dividend and half-yearly results for period ending 31 March 2020 announced
July 2020 Half-yearly financial statements published
August 2020 Interim dividend paid
November 2020 Annual report and financial statements for the year ending 30 September 2020 published
January 2021 Annual general meeting
January 2021 Final dividend paid

This is for Northern.....

[UncleEbenezer]

They each issued an RNS on 17th June, announcing that they would be issuing reports in July - delayed due to COVID 19. Financial timetables have been updated on the relevant Northern websites (Investor Area).

Thanks, got it.

The story: I fired up the divi spreadsheet when the ProVen G&I report came out, and was struck by the absence of the customary N2/N3 entries (N1 being one I disposed of to raise funds for the house purchase last year). Took a look at RNS history, saw the reports were missing, but missed the significance of Publication of updated and amended reporting timetable.

[BusyBumbleBee]

On the whole NVM report well - keeping investors in the loop and they are to be commended for that. However, there are at least two others who have given no updates at all during the year and their annual reports are much later than usual despite there being no Covid-19 problems in their portfolio.

[127tolmers]

All the Northerns reported today. Interesting uplift from 24 March NAV (allotment basis) to audited accounts NAV at 31 March. Good for those who took the plunge in the depths of the crisis.

https://www.investegate.co.uk/northern- ... 2500H6689/

https://www.investegate.co.uk/northern- ... 2500H6688/

https://www.investegate.co.uk/northern- ... 2500H6686/

[Kidman]

I've been reading my Northern 3 annual report which came in the post today.

I have concerns about corporate governance regarding the Board.

1. The Chairman is surely overboarding, not just in number of directorships but he has a large number of chairmanships.

2. All Board members have been there for far more than the recommended nine years. At last they are appointing a new director next month but there is no sign of any of the old lags going.

[barchid]

Kidman
I take your point 100%.
What is more their new owners have form in this area too, I recall that when Mercia was 50% owned by Woodford & Invesco they shared the same Chair with Woodford's patient capital trust. This was for all the time that the controversy of the trust buying unquoted holdings from the open ended fund was happening & when Woodford was getting quotes for these nascent (at the time, unquoted) companies in Guernsey.
She did finally resign but I remebered that as an exercise in how not to do things. Perhaps I am being too negative & the new owners have learned from those days, it is perfectly possible but worth bearing the history in mind ?