Net asset value update at 31 March 2016

RNS Number : 5508U

Starvest PLC

07 April 2016

 

7 April 2016

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

Net asset value update at 31 March 2016

The Company announces the net asset value as at the close of business on 31 March 2016 as follows:

	31 March 2016	31 December 2015	30 September 2015
Trading portfolio value	£1.04m	£1.11m	£1.04m
Company net asset value	£1.07m	£1.12m	£1.14m
Net asset value per share	2.83 pence	3.02 pence	3.09 pence
Share price - mid	1.25 pence	2.38 pence	2.75 pence
Share price discount to net asset value	56%	21%	11%
Market capitalisation	£0.47m	£0.88m	£1.02m

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2015 annual report.  The discounts applied to bid prices at 31 March 2016 totalled £95,608 (31 December 2015: £248,248).

Unfavourable market conditions for mining stocks continued throughout Q1 2016 with subdued commodity prices due to market oversupply.  The trading portfolio value declined by approximately 4% to £1.04m from Q4 2015.  Contributing to the decline was the de-listing of Minera IRL and suspension of Nordic Energy.  Despite the difficult conditions we see an improving market and several opportunities are apparent.  We are actively adding to the portfolio.

The Company plans to relaunch its website shortly, www.starvest.co.uk, where further details of the portfolio may be found.

Callum N Baxter Chairman & Chief Executive 7 April 2016

Enquiries to:

Callum Baxter, Chairman [e-mail] or John Watkins, Finance Director 07768 512 404; [e-mail]

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.

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