Portfolio Update

RNS Number : 1222R

Intl. Biotechnology Trust PLC

24 April 2009

 

INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the 'Company') notes the following change to the value of the unquoted portfolio company - Ricerca Biosciences ('Ricerca').

Ricerca is valued on an EBITDA basis and although the company's financial position is strong, the comparative public market comparators continue to be weak and have resulted in a calculated EBITDA valuation drop from £882k to £622k. This has reduced the Company's net asset value ('NAV') by £260k, representing 0.4pence per share. This valuation change will be reflected in the Company's NAV announcement with effect from today.

Enquiries:

Kate Bingham/David Pinniger

Telephone: [phone]       

SV Life Sciences Managers LLP   

Investment Manager                                        

Rachael Nelson

Telephone: [phone]

BNP Paribas Secretarial Services Limited

Company Secretary

24 APRIL 2009

 

END

 

 

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