Portfolio Update

RNS Number : 8199R

Intl. Biotechnology Trust PLC

06 May 2009

 

INTERNATIONAL BIOTECHNOLOGY TRUST PLC

Portfolio Update

The Board of International Biotechnology Trust plc (the 'Company') notes the following change to the value of an unquoted company which cannot yet be named.

The Directors' valuation of a holding in an unquoted company which cannot be named has been changed today to reflect a signed Letter of Intent ('LOI') to buy the company by an independent external party, which if successful would likely result in a realisation during the next three months. The valuation has been changed from £1.0m to £1.1m to take in to account the value of the LOI, adjusted down for the risk of completion and the likely valuation of the business were it to raise another round of investment if the sale were to fail.  

This valuation change will be incorporated into the net asset value ('NAV') of the Company from today and reflected in the Company's NAV announcements with effect from tomorrow, 7 May 2009.

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

6 May 2009

 

END

 

 

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