Port Erin Biopharma Investments Ltd Net Asset Value(s) (4818U)

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

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