Net Asset Value at 31 December 2013

RNS Number : 9535W

Starvest PLC

06 January 2014

 



Monday 6 January 2013

Starvest plc 

("the Company")

Net asset value update at 31 December 2013

The steady decline in valuations since early 2011 has continued during the quarter, with a further fall of 13.5% in the Company's net asset value since 30 September 2013.

The long awaited recovery for the junior companies seems as far away as ever and the fundraising challenge continues; invariably, they need new funds to enable them to continue their exploration and development plans.

Against this background, the Company announces its net asset values as at 31 December 2013 as follows:

	31 December 2013	30 September 2013
Trading portfolio value	£1.95m	£2.52m
Company net asset value	£2.36m	£2.73m
Net asset value per share	6.35 pence	7.44 pence
Share price - mid	3.88 pence	5.62 pence
Share price discount to net asset value	39%	24%
Market capitalisation	£1.44m	£2.09m

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2013 annual report.

The Company will next update the market as soon as practicable after 31 March 2014, or in the event of a significant change in valuation during the quarter.

R Bruce Rowan Chairman & Chief Executive 6 January 2014

Enquiries to:

Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director 07768 512404; [e-mail]

Colin Aaronson or Ed Thomas - Grant Thornton UK LLP 020 7383 5100

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