Q1 Update - to 31 March 2019

RNS Number : 8674E

RiverFort Global Opportunities PLC

09 July 2019

 

9 July 2019

RiverFort Global Opportunities plc

("RGO" or the "Company")

Quarterly update to 31 March 2019

RiverFort Global Opportunities plc is pleased to provide a quarterly update to 31 March 2019.

Highlights

·      Over £4.6 million invested in RiverFort-arranged opportunities as at the period end

·      Total investment income generated of £483,000 in the quarter

·      Net asset value up by around 5% over the quarter

·      The Company is continuing to build on the progress made in 2018

·      Significant cash balance available for further investment

·      Additional investments made during the period in companies including Jubilee Metals Group plc

Chairman's review

The progress made for 2018 has continued apace into the first quarter of this year, with the majority of the  £483,000 of total investment income for the quarter being generated from RiverFort-arranged opportunities. Overall, after administration and other costs, Q1 2019 represented a profitable quarter for the Company.

The analysis of income for the period is set out below: 

		Q1 2019	Year to 31 December 2018
		£	£
Investment income		283	513
Net income from financial instruments at FVTPL		200	(929)
Total investment income		483	(416)

The improved level of total investment income in Q1 2019 was principally driven by the returns made from the Company's Q1 investments.  In particular, the Company announced an investment of £1.2 million in Jubilee Metals Group plc during this period, its largest investment to date.

The key unaudited performance indicators are set out below: 

Performance indicator	31 March 2019	31 December 2018	Change
Investment income	£283,000	£513,000
Net asset value	£7,575,442	£7,254,727	+4.4%
Net asset value - fully diluted per share	0.112p	0.107p	+4.4%
Closing share price	0.085p	0.090p	-5.5%
Net asset value premium to the share price	31%	19%
Market capitalisation	£5,770,935	£6,110,000	-5.5%

The Company's principal investment portfolio categories are summarised below:

Category	Cost or valuation at 31 March 2019
Debt and equity- linked debt investments	4,643,751
Equity investments	719,391
Other	200,000
Cash resources	2,048,437
Total	7,611,579

The Company's net asset value has increased by around 5% during the quarter and the Company has continued to build its investment portfolio of RiverFort-arranged investments.  Also, during this quarter, the Company's equity portfolio has grown slightly due to the further investment made in Pires Investments plc as part of that company's recent fund raising.

Further details about the Company's investment portfolio are set out on the Company's website at www.riverfortglobalopportunities.com.

The Company is continuing to see a number of interesting investment opportunities where it can deploy its investment funds in order to make attractive returns.

Philip Haydn-Slater

Non-Executive Chairman

9 July 2019

For more information, please contact:

RiverFort Global Opportunities plc:                                            [phone]

Philip Haydn-Slater, Non-Executive Chairman

Nicholas Lee, Investment Director

Nominated Adviser:

Beaumont Cornish                                                                     [phone]

Roland Cornish/Felicity Geidt

Joint Broker:                                                                             [phone]

Shard Partners LLP

Damon Heath/Erik Woolgar

Joint Broker:                                                                             [phone]

Peterhouse Capital Limited

Lucy Williams

 

END

 

 

UPDRPMBTMBMMTRL