Redemption of Interest in Magna Biopharma Fund

RNS Number : 1834D

Port Erin Biopharma Investments Ltd

25 April 2017

 

25 April 2017

Port Erin Biopharma Investments Limited

("Port Erin" or "the Company")

Redemption of holding in the Magna Biopharma Income Fund

The Company announces that it will redeem for cash its entire holding of 87,125.729 units in the Magna Biopharma Income Fund ("MBIF").  Port Erin's holding in the MBIF was valued at £1,038,704 at 31 March 2017.  This follows the decision by the Magna Umbrella Fund plc to close the MBIF.  As a consequence, Port Erin will receive approximately £960,000 in cash which the Company intends to deploy in accordance with its stated policy to invest in the biopharma sector. 

Enquiries

Port Erin Biopharma Investments Limited	Northland Capital Partners Limited	Peterhouse Capital Limited
The Company	Nomad and Broker	Broker
Denham Eke (+44) (0) 1624 639396	Matthew Johnson / David Hignell (+44) (0) 203 861 6625	Lucy Williams (+44) (0) 207 469 0936

 

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