Portfolio Update

RNS Number : 1614N

Intl. Biotechnology Trust PLC

11 February 2009

 

11 February 2009

PORTFOLIO COMPANY REVALUATION

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

The Directors' valuation of the Company's holding in Cadent has been changed today, 11 February 2009. A new round of funding has been agreed by Cadent at an increase to the Company's current holding value of this stock and this has resulted in the Directors increasing their assessment of the fair value of the Company's holding in this stock from £1,647,000 to £2,140,000. This represents an increase of £608,000, or 0.9p per ordinary share. This valuation change will be incorporated into the net asset value of the Company from today and reflected in the Company's net asset value announcements with effect from tomorrow, 12 February 2009.

Enquiries:

Kate Bingham

SV Life Sciences Managers LLP          

Investment Manager                                             Tel: [phone]

Louise Richard

Schroder Investment Management Limited            Tel: [phone]

 

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