Net Asset Value at 30 September 2018

RNS Number : 8488C

Starvest PLC

03 October 2018

 

3 October 2018

Starvest Plc ("Starvest" or "the Company")

Net Asset Value at 30 September 2018

Starvest PLC (LON:SVE), the London Stock Exchange AIM listed specialist mining and resources investment business, announces a Net Asset Value update as at 30 September 2018.

Callum Baxter, Chairman and CEO commented: 'A decline in market sentiment for basic resources has been experienced since January 2018 and as a result the Company Net Asset Value has decreased year on year by approximately 12% to £1.65m. Against this background, it is pleasing to note the robustness of the Company's investment portfolio with a current value of £1.5m, effectively same as at 30 September 2017. We have restricted purchases during the year to 30 September to preserve cash resources. With the oil price currently rising this may spur a renaissance in basic resources and our exposure to oil and gas stocks will likely benefit the overall portfolio value in the near term.'

The net asset value as at 30 September 2018 was as follows:

	30 Sept 2018	31 March 2018	30 Sept 2017
Trading portfolio value	£1.50m	£1.18m	£1.52m
Company net asset value	£1.65m	£1.38m	£1.88m
Net asset value per share	3.07 pence	2.61 pence	3.56 pence
Share price - mid	2.15 pence	2.13 pence	4.62 pence
Share price discount to net asset value	30%	18%	-30%
Market capitalisation	£1.16m	£1.13m	£2.44m

All valuations are based on the closing market prices or lower directors' valuation as described in the 2017 annual report.  The discounts applied to close prices at 30 September 2018 totalled £141,644.

Starvest is a specialist mining and resource investment company and has the industry knowledge and market exposure to select compelling opportunities early in the investment cycle.

Investors are encouraged to view our RNS feed on the Starvest web site www.starvest.co.uk/announcements

Callum N Baxter

Chairman & Chief Executive

3 October 2018

Enquiries to:

Starvest PLC

Callum Baxter  Chairman/CEO  [phone]  [e-mail]

Grant Thornton UK LLP (Nomad)

Colin Aaronson or Harrison Clarke  [phone]

SI Capital Ltd (Appointed Broker)

Nick Emerson or Alan Gunn [phone] 

 

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