Net asset value update at 31 December 2015

RNS Number : 9930K

Starvest PLC

06 January 2016

 

Wednesday 6 January 2016

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

Net asset value update at 31 December 2015

The Company announces the net asset value as at the close of business on 31 December 2015 as follows:

	31 December 2015	30 September 2015	30 December 2014	31 December 2013
Trading portfolio value	£1.11m	£1.04m	£1.60m	£1.95m
Company net asset value	£1.12m	£1.14m	£1.80m	£2.36m
Net asset value per share	3.02 pence	3.09 pence	4.85 pence	6.35 pence
Share price - mid	2.38 pence	2.75 pence	4.38 pence	3.88 pence
Share price discount to net asset value	21%	11%	10%	39%
Market capitalisation	£0.88m	£1.02m	£1.62m	£1.44m

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2015 annual report.  The discounts applied to bid prices at 31 December 2015 totalled £248,248 (30 September 2015: £241,750).

Challenging market conditions for mining stocks prevailed throughout Q4 2015 following declining commodity prices due to market oversupply.  However, our trading portfolio value is weathering the storm with a modest increase from Q3 2015 displaying resilience in the current climate.   The Company is actively seeking investment opportunities to add to its current portfolio.

The Company's website, www.starvest.co.uk, has further details of the portfolio.

Callum N Baxter Chairman & Chief Executive 6 January 2016

Enquiries to:

Callum Baxter, Chairman [e-mail] or John Watkins, Finance Director 07768 512404; [e-mail]

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.

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