Global Resources Investment Tst PLC Net Asset Value and Portfolio Update (6687N)

TIDMGRIT

RNS Number : 6687N

Global Resources Investment Tst PLC

28 October 2016

   To:                          RNS 
   From:                    Global Resources Investment Trust plc 
   Date:                     28 October 2016 

Net Asset Value and Portfolio Update

The unaudited net asset value (NAV) of the Company is noted below in pence per share. NAVs are calculated in accordance with stated policies. Applicable accounting standards and AIC recommendations are followed.

The NAV per ordinary share as at the close of business on 26 October 2016:

 
                                                         Pence per Share 
                                                          Cum Ex 
                                                          Income Income 
              With financial liabilities at fair value   23.16 23.16 
 
 
              With financial liabilities at par value   23.16 23.16 
 

The NAV above includes an adjustment to the carrying value of the Company's investment in Anglo African Minerals plc ("AAM"), following a recently completed third party capital raising by AAM. Having successfully completed the fund raising, AAM has also recently announced that it has entered into the first stage of a joint venture agreement with a consortium consisting of two substantial Chinese corporations - China New Era Group Corporation and China Geo-Engineering Corporation on the co-development of the FAR project in Guinea. AAM believe that this is a significant milestone in creating shareholder value and securing the development of the FAR project.

The Board of Global Resources Investment Trust plc will look to reassess the carrying value of the Company's investment in AAM at the year end on 31 December 2016.

The Board also confirms that in the week commencing 31 October 2016 the Company will be repaying GBP1.0 million nominal of 9% Convertible Unsecured Loan Stock 2017 to LIM Asia Multi-Strategy Fund Inc ("LIM"). It expects to repay the balance of GBP1.5 million nominal of 9% Convertible Unsecured Loan Stock 2017 to LIM from the proceeds of continuing portfolio realisations.

For further information please contact:

David Hutchins

RDP Fund Management LLP

0207 290 8541

Martin A Cassels

R&H Fund Services Limited

0131 550 3760/3766

Important information

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.

This information is provided by RNS

The company news service from the London Stock Exchange

END

NAVBUBDGLUDBGLR

(END) Dow Jones Newswires

October 28, 2016 02:00 ET (06:00 GMT)