Net Asset Value calculations to 31 March 2014

RNS Number : 2687E

Port Erin Biopharma Investments Ltd

08 April 2014

 

Port Erin Biopharma Investments Limited

 (the "Company")

Net Asset Value calculation to 31 March 2014

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 March 2014 was 15.40 pence per share, including un-invested cash of £736,392 and an accrual carried forward of £379,057 for the management fee. The portfolio is valued under IFRS at bid price. This quarter's NAV represents a decrease of 3.2% from the previous valuation of 15.91 pence per share, which included un-invested cash of £802,741. Our holding in the Magna Biopharma Income Fund continues to perform well, the value having risen by 6.2% in the quarter."

		Unaudited to 31 March 2014 £
Fixed Assets
	Investments	4,897,990
Current Assets
	Debtors: amounts owing	14,765
	Un-invested cash	736,392
Current Liabilities
	Creditors: amounts due	(433,455)
		5,215,692
Capital and Reserves
	Share Capital	34
	Share Premium	2,759,551
	Current year's earnings	1,615,741
	Retained earnings	840,366
		5,215,692
Shares in Issue		33,864,836
Asset Value per share		15.40 pence

--- ENDS ---

Portfolio Details

Investments as at 31 March 2014	Value	% of Total Portfolio
Magna Biopharma Income Fund	£2,917,568	59.6%
Plethora Solutions Holdings	£852,500	17.4%
Summit Corporation	£728,333	14.9%
Other quoted holdings	£80,271	1.6%
Other unquoted holdings	£319,318	6.5%
TOTAL INVESTMENTS	£4,897,990	100.0%

For further information, please contact:

Port Erin Biopharma Investments Limited	Beaumont Cornish Limited	Peterhouse Capital Limited
The Company	Nomad	Broker
Denham Eke [phone]	Roland Cornish Felicity Geidt [phone]	Jon Levinson [phone]

 

END

 

 

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