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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Starvest Plc | LSE:SVE | London | Ordinary Share | GB0009619817 | ORD 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.70 | 9.00 | 20.00 | 0.00 | 00:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSVE
RNS Number : 4409I
Starvest PLC
30 August 2016
30 August 2016
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 26 August 2016
The Company announces that, as at the close of business on 26 August 2106, the net asset value had increased since the close of business on 30 June 2016 as follows:
26 August 30 June 2016 2016 Trading portfolio GBP1.39m GBP1.29m value Company net asset GBP1.34m GBP1.19m value Net asset value per 3.38 pence 3.09 pence share Share price - mid 1.88 pence 2.12 pence Share price discount to net asset value 44% 31% Market capitalisation GBP0.74m GBP0.82m
All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2015 annual report. The discounts applied to bid prices at 26 August 2016 totalled GBP133,624 (30 June 2016: GBP113,322).
A sustained recovery in the sector is apparent with continued improvements in portfolio companies such as Oracle Coalfields, BMR Group, Greatland Gold, Ariana Resources, Kefi Minerals, Sunrise Resources and Alba Minerals. Other investments such as Salt Lake Potash and Diamondcorp are also performing well.
Callum Baxter, Chairman and Chief Executive commented, "I am delighted to see continued improvement in the performance of our portfolio stocks and Starvest remains committed to investing at this stage of the commodities cycle where many cost effective opportunities exist. It is apparent that in this acquisitive phase many good companies will require funding to explore new projects and develop their exciting resources. We remain focussed on evaluating new opportunities in the sector but we also look to our existing portfolio companies, many in which we retain a significant stake, who will benefit greatly in this improved trading environment."
Callum N Baxter Chairman & Chief Executive 30 August 2016
Enquiries to:
Callum Baxter, Chairman cbaxter@starvest.co.uk or John Watkins, Finance Director 07768 512 404; jwatkins@starvest.co.uk
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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(END) Dow Jones Newswires
August 30, 2016 07:59 ET (11:59 GMT)
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