Net Asset Value(s)

RNS Number : 7927M

Port Erin Biopharma Investments Ltd

25 January 2016

 

25 January 2016

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 31 December 2015

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2015 was 10.79 pence per share, including un-invested cash of £24,011. The portfolio is valued under IFRS at bid price.

Net Assets stand at £2.5 million including Investments of £2.49 million. This quarter's NAV represents an increase of 7.47% from the previous valuation of 10.04 pence per share, which included un-invested cash of £67,542. No additional management fee is due to Shellbay Investments Limited.

The reported NAV to 31 December 2015 gained due to strong performance across the portfolio during the quarter.  The company's three principal investments continue to show significant growth prospects for 2016 and beyond".    

		Unaudited to 31 December 2015    £
Fixed Assets
	Investments	2,494,733
Current Assets
	Sundry Debtors	6,342
	Uninvested cash	24,011
Current Liabilities
	Creditors: amounts due	(23,192)
		2,501,894
Capital and Reserves
	Share Capital	23
	Share Premium	1,890,142
	Reserves	611,729
		2,501,894
Shares in Issue		23,195,558
Net Asset Value per share		10.79 pence

Portfolio Details

Investments as at 31 December 2015	Value	% of Total Portfolio
Magna Biopharma Income Fund	£1,241,145	49.8%
Plethora Solutions Holdings	£348,746	14.0%
Summit Corporation	£438,378	17.6%
Other quoted holdings	£229,826	9.2%
Other unquoted holdings	£236,638	9.4%
Total	£2,494,733	100.0%

For further information, please contact:

Port Erin Biopharma Investments Limited	Beaumont Cornish Limited	Peterhouse Capital Limited
The Company	Nomad	Broker
Denham Eke (+44) (0) 1624 639396	Roland Cornish/ James Biddle (+44) (0) 207 628 3396	Lucy Williams (+44) (0) 207 469 0936

 

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