Net Asset Value(s)

RNS Number : 9529T

Port Erin Biopharma Investments Ltd

12 January 2017

 

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 31 December 2016

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2016 was 11.13 pence per share, including un-invested cash of £66,642.  The portfolio is valued under IFRS at bid price.

Net Assets stand at £2.62 million including investments of £2.55 million.  This quarter's NAV represents an increase of 11.7% from the previous valuation of 9.96 pence per share, which included un-invested cash of £12,921.  No management fee is due to Shellbay Investments Limited.

The increase in reported NAV to 31 December 2016 is mainly due to an upturn in the value of the holding in Regent Pacific Group. The Company's three principal investments continue to show significant growth potential during 2017 and beyond".    

		Unaudited to 31 December 2016    £
Fixed Assets
	Investments	2,548,237
Current Assets
	Sundry Debtors	8,592
	Uninvested cash	66,642
Current Liabilities
	Creditors: amounts due	(41,962)
		2,581,509
Capital and Reserves
	Share Capital	23
	Share Premium	1,890,142
	Reserves	691,344
		2,581,509
Shares in Issue		23,195,558
Net Asset Value per share		11.13 pence

Portfolio Details

Investments as at 31 December 2016	Value	% of Total Portfolio
Magna Biopharma Income Fund	£953,318	37.41%
Regent Pacific Group	£740,148	29.05%
Summit Corporation	£170,706	6.70%
Investment loans	£200,000	7.85%
Other quoted holdings	£136,845	5.37%
Other unquoted holdings	£347,220	13.62%
Total	£2,548,237	100.00%

For further information, please contact:

Port Erin Biopharma Investments Limited	Northland Capital Partners Limited	Peterhouse Capital Limited
The Company	Nomad and Broker	Broker
Denham Eke (+44) (0) 1624 639396	Matthew Johnson / David Hignell (+44) (0) 203 861 6625	Lucy Williams   (+44) (0) 207 469 0936

 

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