Net Asset Value

RNS Number : 8934B

Port Erin Biopharma Investments Ltd

12 January 2015

 

12 January 2015

Port Erin Biopharma Investments Limited

 (the "Company")

Net Asset Value calculation to 31 December 2014

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2014 was 14.29 pence per share, including un-invested cash of £431,744. The portfolio is valued under IFRS at bid price.

Net Assets stand at £4.8 million including Investments of £4.5 million. This quarter's NAV represents a decrease of 1.0% from the previous valuation of 14.42 pence per share, which included un-invested cash of £490,797. On this basis, no additional management fee is due to Shellbay Investments Limited.

Our holding in the Magna Biopharma Income Fund now represents 62% of the portfolio.

We are in the process of finalising a Tender Offer circular, the full details of which will be published later this month."

		Unaudited to 31 December 2014    £
Fixed Assets
	Investments	4,468,412
Current Assets
	Sundry Debtors	13,739
	Uninvested cash	431,744
Current Liabilities
	Creditors: amounts due	-75,857
		4,838,038
Capital and Reserves
	Share Capital	34
	Share Premium	2,759,551
	Current year earnings	-143,388
	Retained earnings	2,221,841
		4,838,038
Shares in Issue		33,864,836
Net Asset Value per share		14.29 pence

--- ENDS ---

Portfolio Details

Investments as at 31 December 2014	Value	% of Total Portfolio
Magna Biopharma Income Fund	£2,761,998	61.81%
Plethora Solutions Holdings	£561,875	12.57%
Summit Corporation	£509,833	11.41%
Other quoted holdings	£227,281	5.09%
Other unquoted holdings	£407,425	9.12%
Total	£4,468,412	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]	Lucy Williams [phone]

 

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