Port Erin Biopharma Investments Ltd Net Asset Value(s) (4818U)
July 30 2015 - 1:03AM
UK Regulatory
TIDMPEBI
RNS Number : 4818U
Port Erin Biopharma Investments Ltd
30 July 2015
7.00am 30 July 2015
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 30 June 2015
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at
closing on 30 June 2015 was 11.47 pence per share, including
un-invested cash of GBP255,564. The portfolio is valued under IFRS
at bid price.
Net Assets stand at GBP2.7 million including Investments of
GBP2.5 million. This quarter's NAV represents a decrease of 6.9%
from the previous valuation of 12.32 pence per share, which
included un-invested cash of GBP405,665. On this basis, no
additional management fee is due to Shellbay Investments
Limited.
The reported NAV to 30 June 2015 suffered due to some adverse
foreign exchange fluctuations in our holdings on translation to the
sterling reporting currency. The underlying value of our
investments in unaffected by these accounting movements and has no
cash impact. The portfolio continues to demonstrate strong
fundamentals, including Plethora Solutions Holdings plc which
enjoyed an uplift of 21% over the quarter."
Unaudited to 30 June 2015 GBP
Fixed Assets
Investments 2,454,953
Current Assets
Sundry Debtors 11,846
Uninvested cash 255,564
Current Liabilities
Creditors: amounts due (61,600)
-----------------------------
2,660,763
Capital and Reserves
Share Capital 23
Share Premium 1,890,142
Reserves 770,598
-----------------------------
2,660,763
Shares in Issue 23,195,558
Net Asset Value per share 11.47 pence
Portfolio Details
Investments as at 30 Value % of Total Portfolio
June 2015
----------------------------- ------------- --------------------
Magna Biopharma Income
Fund GBP1,238,846 50.5%
Plethora Solutions Holdings GBP310,000 12.6%
Summit Corporation GBP408,150 16.6%
Other quoted holdings GBP188,665 7.7%
Other unquoted holdings GBP309,292 12.6%
Total GBP2,454,953 100.0%
----------------------------- ------------- --------------------
For further information, please contact:
Port Erin Biopharma Beaumont Cornish Limited Peterhouse Capital
Investments Limited Limited
The Company Nomad Broker
Denham Eke Roland Cornish Lucy Williams
(+44) (0) 1624 639396 (+44) (0) 207 628 3396 (+44) (0) 207
469 0936
This information is provided by RNS
The company news service from the London Stock Exchange
END
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