Net Asset Value(s)

RNS Number : 4442E

Port Erin Biopharma Investments Ltd

04 November 2015

 

4 November 2015

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 30 September 2015

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2015 was 10.04 pence per share, including un-invested cash of £67,542. The portfolio is valued under IFRS at bid price.

Net Assets stand at £2.3 million including Investments of £2.26 million. This quarter's NAV represents a decrease of 12.5% from the previous valuation of 11.47 pence per share, which included un-invested cash of £255,564. On this basis, no additional management fee is due to Shellbay Investments Limited.

The reported NAV to 30 September 2015 suffered due to some short-term share price fluctuations across the portfolio during the quarter.  The company's three principal investments continue to show significant growth potential for the remainder of 2015 and beyond".    

		Unaudited to 30 September 2015    £
Fixed Assets
	Investments	2,268,245
Current Assets
	Sundry Debtors	17,230
	Uninvested cash	67,542
Current Liabilities
	Creditors: amounts due	(24,185)
		2,328,832
Capital and Reserves
	Share Capital	23
	Share Premium	1,890,142
	Reserves	438,667
		2,328,832
Shares in Issue		23,195,558
Net Asset Value per share		10.04 pence

Portfolio Details

Investments as at 30 September 2015	Value	% of Total Portfolio
Magna Biopharma Income Fund	£1,139,581	50.2%
Plethora Solutions Holdings	£213,148	9.4%
Summit Corporation	£417,264	18.4%
Other quoted holdings	£254,920	11.2%
Other unquoted holdings	£243,332	10.8%
Total	£2,268,245	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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