Net Asset Value

RNS Number : 0665O

Port Erin Biopharma Investments Ltd

05 October 2012

Port Erin Biopharma Investments Limited ("The Company")

Net Asset Value calculation for the fourth trading quarter to 30^th September 2012

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2012 was 9.63 pence per share, including un-invested cash of £329,708. The portfolio is valued under IFRS at bid price. This quarter's NAV represents a useful increase from the previous valuation of 9.46 pence per share, including un-invested cash of £237,391. The revenue reserve has increased substantially following the deduction of listing expenses from the share premium account and represents a return of 16.75% on investments after operating costs."

		Unaudited 15 September 2011 to 30 September 2012 £
Fixed Assets
	Investments	2,859,129
Current Assets
	Debtors: amounts owing	12,414
	Un-invested cash	329,708
Current Liabilities
	Creditors: amounts due	(23,400)
		3,177,851
Capital and Reserves
	Share Capital	33
	Share Premium	2,699,011
	Capital reserve - realised	0
	Capital reserve - unrealised	0
	Revenue reserve	478,806
		3,177,850

Shares in Issue		33,000,000
Net Asset Value per share		9.63 pence

--- ENDS ---

Portfolio Details

Holdings	£Value	Portfolio %
	30/09/2012
Synergy Pharmaceuticals Inc.	235,997	8.3%
Pfizer Inc.	227,368	8.0%
Plethora Solutions Holdings	199,963	7.0%
Summit Corporation plc	184,133	6.4%
Gilead Sciences Inc.	176,372	6.2%
Novartis AG	170,354	6.0%
Arrowhead Research Corp.	169,915	5.9%
Astellas Pharmaceuticals Inc.	157,268	5.5%
Abbott Laboratories	122,948	4.3%
Nektar Therapeutics	110,864	3.9%
	1,755,182	61.4%

Aggregate remaining holdings below 3% of total portfolio	1,103,947	38.6%
	2,859,129	100.0%