Q1 Update - to 31 March 2019

RNS Number : 8674E
RiverFort Global Opportunities PLC
09 July 2019
 

9 July 2019

 

 

RiverFort Global Opportunities plc

 

("RGO" or the "Company")

 

 

Quarterly update to 31 March 2019

 

RiverFort Global Opportunities plc is pleased to provide a quarterly update to 31 March 2019.

 

Highlights

·      Over £4.6 million invested in RiverFort-arranged opportunities as at the period end

·      Total investment income generated of £483,000 in the quarter

·      Net asset value up by around 5% over the quarter

·      The Company is continuing to build on the progress made in 2018

·      Significant cash balance available for further investment

·      Additional investments made during the period in companies including Jubilee Metals Group plc

 

Chairman's review

The progress made for 2018 has continued apace into the first quarter of this year, with the majority of the  £483,000 of total investment income for the quarter being generated from RiverFort-arranged opportunities. Overall, after administration and other costs, Q1 2019 represented a profitable quarter for the Company.

 

The analysis of income for the period is set out below: 

                                                                                   

 

 

Q1 2019

Year to 31 December 2018

 

 

£

£

Investment income

 

283

513

Net income from financial instruments at FVTPL

 

200

(929)

 

 

 

 

Total investment income

 

483

(416)

 

 

The improved level of total investment income in Q1 2019 was principally driven by the returns made from the Company's Q1 investments.  In particular, the Company announced an investment of £1.2 million in Jubilee Metals Group plc during this period, its largest investment to date.

 

The key unaudited performance indicators are set out below: 

Performance indicator

31 March 2019

31 December 2018

Change

Investment income

£283,000

£513,000

 

Net asset value

£7,575,442

£7,254,727

+4.4%

Net asset value - fully diluted per share

0.112p

0.107p

+4.4%

Closing share price

0.085p

0.090p

-5.5%

Net asset value premium to the share price

31%

19%

 

Market capitalisation

£5,770,935

£6,110,000

-5.5%

 

 

The Company's principal investment portfolio categories are summarised below:

Category

Cost or valuation at 31 March 2019

 

 

Debt and equity- linked debt investments

4,643,751

Equity investments

719,391

Other

200,000

Cash resources

2,048,437

 

 

Total

7,611,579

 

 

The Company's net asset value has increased by around 5% during the quarter and the Company has continued to build its investment portfolio of RiverFort-arranged investments.  Also, during this quarter, the Company's equity portfolio has grown slightly due to the further investment made in Pires Investments plc as part of that company's recent fund raising.

 

Further details about the Company's investment portfolio are set out on the Company's website at www.riverfortglobalopportunities.com.

 

The Company is continuing to see a number of interesting investment opportunities where it can deploy its investment funds in order to make attractive returns.

 

 

Philip Haydn-Slater

Non-Executive Chairman

9 July 2019

 

For more information, please contact:

 

RiverFort Global Opportunities plc:                                            +44 (0) 20 3984 9191

Philip Haydn-Slater, Non-Executive Chairman

Nicholas Lee, Investment Director

                                                           

                                                                                               

Nominated Adviser:

Beaumont Cornish                                                                     +44 (0) 20 7628 3396

Roland Cornish/Felicity Geidt

 

Joint Broker:                                                                             +44 (0) 20 7601 6100

Shard Partners LLP

Damon Heath/Erik Woolgar

 

Joint Broker:                                                                             +44 (0) 20 7562 3351

Peterhouse Capital Limited

Lucy Williams

 

 

 


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