Starvest PLC Net Asset Value at 30 June 2017 (7369K)
July 11 2017 - 7:11AM
UK Regulatory
TIDMSVE
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 31 March 30 September
2017 2017 2016
Trading portfolio GBP1.54m GBP1.29m GBP1.37m
value
Company net asset GBP1.87m GBP1.24m GBP1.27m
value
Net asset value 3.54 pence 2.84 pence 3.21 pence
per share
Share price - mid 3.50 pence 2.25 pence 2.25 pence
Share price discount
to net asset value 1% 21% 30%
Market capitalisation GBP1.85m GBP0.98m GBP0.89m
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
GBP156,404.
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 GBP170,000 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 GBP335,000 before costs
(approximately seven times the initial investment).
Callum N Baxter
Chairman & Chief Executive
11 July 2017
Enquiries to:
Callum Baxter, Chairman cbaxter@starvest.co.uk - 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
This information is provided by RNS
The company news service from the London Stock Exchange
END
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