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RNS Number : 1834D

Port Erin Biopharma Investments Ltd

25 April 2017

25 April 2017

Port Erin Biopharma Investments Limited

("Port Erin" or "the Company")

Redemption of holding in the Magna Biopharma Income Fund

The Company announces that it will redeem for cash its entire holding of 87,125.729 units in the Magna Biopharma Income Fund ("MBIF"). Port Erin's holding in the MBIF was valued at GBP1,038,704 at 31 March 2017. This follows the decision by the Magna Umbrella Fund plc to close the MBIF. As a consequence, Port Erin will receive approximately GBP960,000 in cash which the Company intends to deploy in accordance with its stated policy to invest in the biopharma sector.

Enquiries

 
Port Erin Biopharma     Northland Capital Partners  Peterhouse Capital 
 Investments Limited     Limited                     Limited 
The Company             Nomad and Broker            Broker 
 
Denham Eke              Matthew Johnson / David     Lucy Williams 
 (+44) (0) 1624 639396   Hignell                     (+44) (0) 207 
                         (+44) (0) 203 861 6625      469 0936 
 

This information is provided by RNS

The company news service from the London Stock Exchange

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April 25, 2017 02:00 ET (06:00 GMT)