Net Asset Value(s)

RNS Number : 8877X

Port Erin Biopharma Investments Ltd

17 January 2014

 



Port Erin Biopharma Investments Limited

 (the "Company")

Net Asset Value calculation to 31 December 2013

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2013 was 15.91 pence per share, including un-invested cash of £840,366 and an accrual of £353,041 for the management fee. The portfolio is valued under IFRS at bid price. This quarter's asset value represents a decrease of 7.1% from the previous valuation of 17.13 pence per share, which included un-invested cash of £742,497. The performance, however, continues to represent an increase of nearly 100% over the initial cash available for investment at inception after listing and operating costs."

		Unaudited to 31 December 2013 £
Fixed Assets
	Investments	4,991,105
Current Assets
	Debtors: amounts owing	5,106
	Un-invested cash	802,741
Current Liabilities
	Creditors: amounts due Note 1	(410,810)
		5,388,142
Capital and Reserves
	Share Capital	34
	Share Premium	2,759,551
	Current year's earnings	1,788,181
	Retained earnings	840,366
		5,388,142
Shares in Issue		33,864,836
Asset Value per share		15.91 pence
Note 1: Including management fee accrual of £353,041

--- ENDS ---

Portfolio Details

Investments as at 31 December 2013	Value	% of Total Portfolio
Magna Biopharma Income Fund	£2,746,728	55.0%
Plethora Solutions Holdings	£968,752	19.4%
Summit Corporation	£637,500	12.8%
Other quoted holdings	£318,155	6.4%
Other unquoted holdings	£319,970	6.4%
TOTAL INVESTMENTS	£4,991,105	100.0%

For further information, please contact:

Port Erin Biopharma Investments Limited	Beaumont Cornish Limited	Peterhouse Capital Limited
The Company	Nomad	Broker
Denham Eke [phone]	Roland Cornish [phone]	Jon Levinson [phone]

 

END

 

 

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