Net Asset Value

RNS Number : 8610S

Starvest PLC

05 October 2017

 

5 October 2017

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

Net Asset Value Update at 30 September 2017

The Company announces the net asset value as at the close of business on 30 September 2017 as follows:

	30 Sept 2017	30 June 2017	30 Sept 2016
Trading portfolio value	£1.52m	£1.54m	£1.37m
Company net asset value	£1.88m	£1.87m	£1.27m
Net asset value per share	3.56 pence	3.54 pence	3.21 pence
Share price - mid	4.62 pence	3.50 pence	2.25 pence
Share price premium to net asset value	30%	-1%	-30%
Market capitalisation	£2.44m	£1.85m	£0.89m

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2016 annual report.  The discounts applied to bid prices at 30 September 2017 totalled £143,016.

The mining sector recovery continued during the quarter to 30 Sept 2017 and our portfolio value and cash generation through trading profits reflect this. Improvements in the sector and a more favourable global economic outlook have provided confidence to global markets. Following the improved conditions, we have seen a year-on-year positive move in net asset value of approximately 48%. Currently we are experiencing an increased interest in our portfolio positions and upside potential from the improving market. As such our year-on-year rise in market capitalisation is at around 270%. We look forward to adding further significant opportunities in the coming weeks.

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

Callum N Baxter Chairman & Chief Executive 5 October 2017

Enquiries to:

Starvest PLC

Callum Baxter  Chairman/CEO  07922 255 933  [e-mail]

Grant Thornton UK LLP (Nomad)

Colin Aaronson or Harrison Clarke  02073 835 100

SI Capital Ltd (Appointed Broker)

Nick Emerson  01483 413 500

 

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