Net Asset Value at 30 June 2017

RNS Number : 7369K

Starvest PLC

11 July 2017

 

11 July 2017

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

Net Asset Value at 30 June 2017

In accordance with the Company's normal policy, it announces the net asset value as at the close of business on 30 June 2017 as follows:

	30 June 2017	31 March 2017	30 September 2016
Trading portfolio value	£1.54m	£1.29m	£1.37m
Company net asset value	£1.87m	£1.24m	£1.27m
Net asset value per share	3.54 pence	2.84 pence	3.21 pence
Share price - mid	3.50 pence	2.25 pence	2.25 pence
Share price discount to net asset value	1%	21%	30%
Market capitalisation	£1.85m	£0.98m	£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 June 2017 totalled £156,404.

Compared to the previous quarter the portfolio value increased by over 15% and the company net asset value increased by 50% (as at 30 June 2017) as a results of profit from share transactions.

Throughout the quarter to 30 June 2017 more favourable market conditions prevailed with global demand for commodities increasing. As we flagged in the previous quarter this trend continues which bodes well for commodity prices for the foreseeable future. Overall, market sentiment for the sector (mining) remained positive and this is reflected in our current portfolio value.

During May a modest £170,000 was successfully raised from a select group of sophisticated investors at the prevailing market price and, pleasingly, the share price has since performed well. Several sales of stock during the quarter added to the Company's cash balance without affecting its holding in major investee positions; one investment netted £335,000 before costs (approximately seven times the initial investment).

Callum N Baxter

Chairman & Chief Executive

11 July 2017

Enquiries to:

Callum Baxter, Chairman   [e-mail]  -  07922 255 933

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP  -  02073 835 100

Nick Emerson or Andy Thacker - SI Capital Limited  -  01483 413 500

 

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