Net Asset Value calculation to 31st March 2013

RNS Number : 8542B

Port Erin Biopharma Investments Ltd

09 April 2013

 



Port Erin Biopharma Investments Limited ("The Company")

Net Asset Value calculation to 31^st March 2013

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 March 2013 was 11.22 pence per share, including un-invested cash of £287,310. The portfolio is valued under IFRS at bid price. This quarter's NAV represents a considerable increase of 18.1% from the previous valuation of 9.50 pence per share, which included un-invested cash of £101,241. The revenue reserve has increased substantially to just over £1.0 million and represents a return of over 37.2% on investments after listing and operating costs."

		Unaudited to 31 March 2013 £
Fixed Assets
	Investments	3,434,606
Current Assets
	Debtors: amounts owing	5,690
	Un-invested cash	287,310
Current Liabilities
	Creditors: amounts due	(24,000)
		3,703,606
Capital and Reserves
	Share Capital	33
	Share Premium	2,699,011
	Capital reserve - realised	0
	Capital reserve - unrealised	0
	Revenue reserve	1,004,562
		3,703,606
Shares in Issue		33,000,000
Net Asset Value per share		11.22 pence

--- ENDS ---

Portfolio Details

Investments Schedule at 31st March 2013	Valuation £	Portfolio %
Synergy Pharmaceuticals Inc.	318,602	9.3%
Gilead Sciences Inc.	276,677	8.1%
Summit Corporation plc	254,061	7.4%
Celgene Corporation	220,975	6.4%
Arrowhead Research	146,728	4.3%
Pfizer Inc.	140,322	4.1%
Biogen Idec Inc.	139,516	4.1%
TrovaGene Inc.	122,493	3.6%
Nektar Therapeutics	121,507	3.5%
	1,740,882	50.7%
Aggregate value of remaining holdings below 3% of total portfolio	1,693,724	49.3%
TOTAL INVESTMENTS	3,434,606	100.0%

For further information, please contact:

Port Erin Biopharma Investments Ltd	Libertas Capital Corporate Finance Limited	Peterhouse Capital Limited
The Company	Nomad	Broker
Denham Eke [phone]	Sandy Jamieson [phone]	Jon Levinson [phone]

 

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