Net Asset Value(s)

RNS Number : 4818U

Port Erin Biopharma Investments Ltd

30 July 2015

 

7.00am 30 July 2015

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 30 June 2015

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 June 2015 was 11.47 pence per share, including un-invested cash of £255,564. The portfolio is valued under IFRS at bid price.

Net Assets stand at £2.7 million including Investments of £2.5 million. This quarter's NAV represents a decrease of 6.9% from the previous valuation of 12.32 pence per share, which included un-invested cash of £405,665. On this basis, no additional management fee is due to Shellbay Investments Limited.

The reported NAV to 30 June 2015 suffered due to some adverse foreign exchange fluctuations in our holdings on translation to the sterling reporting currency.  The underlying value of our investments in unaffected by these accounting movements and has no cash impact. The portfolio continues to demonstrate strong fundamentals, including Plethora Solutions Holdings plc which enjoyed an uplift of 21% over the quarter."

		Unaudited to 30 June 2015    £
Fixed Assets
	Investments	2,454,953
Current Assets
	Sundry Debtors	11,846
	Uninvested cash	255,564
Current Liabilities
	Creditors: amounts due	(61,600)
		2,660,763
Capital and Reserves
	Share Capital	23
	Share Premium	1,890,142
	Reserves	770,598
		2,660,763
Shares in Issue		23,195,558
Net Asset Value per share		11.47 pence

 

Portfolio Details

Investments as at 30 June 2015	Value	% of Total Portfolio
Magna Biopharma Income Fund	£1,238,846	50.5%
Plethora Solutions Holdings	£310,000	12.6%
Summit Corporation	£408,150	16.6%
Other quoted holdings	£188,665	7.7%
Other unquoted holdings	£309,292	12.6%
Total	£2,454,953	100.0%

For further information, please contact:

Port Erin Biopharma Investments Limited	Beaumont Cornish Limited	Peterhouse Capital Limited
The Company	Nomad	Broker
Denham Eke (+44) (0) 1624 639396	Roland Cornish (+44) (0) 207 628 3396	Lucy Williams (+44) (0) 207 469 0936

 

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