Net Asset Value(s)

RNS Number : 9245M

Port Erin Biopharma Investments Ltd

22 July 2014

 



For immediate release                                                                                                                                 22 July 2014

Port Erin Biopharma Investments Limited

 (the "Company")

Net Asset Value calculation to 30 June 2014

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 June 2014 was 14.71 pence per share, including un-invested cash of £526,503 and an accrual carried forward of £379,057 for the management fee. The portfolio is valued under IFRS at bid price.

Thus in the full year, Total Assets have grown in value by 37.1% to just under £5.0 million, and Investments have grown in value by 65.6% to £4.8 million. This quarter's NAV represents a decrease of 4.5% from the previous valuation of 15.40 pence per share, which included un-invested cash of £736,392. On this basis, no additional management fee is due to Shellbay Investments Limited.

Our holding in the Magna Biopharma Income Fund continues to perform well, the value having risen by 7.0% to £2.9 million in the six months since inception."

		Unaudited to 30 June 2014 £
Fixed Assets
	Investments	4,830,908
Current Assets
	Debtors: amounts owing	24,997
	Un-invested cash	526,503
Current Liabilities
	Creditors: amounts due	(400,982)
		4,981,426
Capital and Reserves
	Share Capital	34
	Share Premium	2,759,551
	Current year's earnings	1,381,475
	Retained earnings	840,366
		4,981,426
Shares in Issue		33,864,836
Asset Value per share		14.71 pence

--- ENDS ---

Portfolio Details

Investments as at 30 June 2014	Value	% of Total Portfolio
Magna Biopharma Income Fund	£2,901,683	60.06%
Plethora Solutions Holdings	£852,500	17.65%
Summit Corporation	£536,667	11.11%
Other quoted holdings	£163,938	3.39%
Other unquoted holdings	£376,120	7.79%
Total	£4,830,908	100.00%

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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