Starvest PLC Net asset value update at 31 March 2017 (6666B)

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RNS Number : 6666B

Starvest PLC

05 April 2017

5 April 2017

Starvest Plc ("Starvest" or "the Company")

Net asset value update at 31 March 2017

In accordance with the Company's normal policy, it announces the net asset value as at the close of business on 31 March 2017 as follows:

 
                            31 March   30 September     31 March 
                                2017           2016         2016 
 Trading portfolio          GBP1.29m       GBP1.37m     GBP1.04m 
  value 
 Company net asset          GBP1.24m       GBP1.27m     GBP1.07m 
  value 
 Net asset value          2.84 pence     3.21 pence   2.83 pence 
  per share 
 Share price - mid        2.25 pence     2.25 pence   1.25 pence 
 Share price discount 
  to net asset value             21%            30%          56% 
 Market capitalisation      GBP0.98m       GBP0.89m     GBP0.47m 
 

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 31 March 2017 totalled GBP125,893.

Compared Q4 2016 our portfolio value remained relatively constant as at 31 March 2017. Rebalancing of global supply and demand for basic materials (gold, copper, iron ore, crude oil, etc) continued in early 2017 which bodes well for commodity prices throughout the remainder of the year. Overall, market sentiment for the sector (mining) remains upbeat and this should have a positive impact on share prices in the near term. Our share price performed well during Q1 2017 but disappointingly declined in recent days. Share price valuations in the sector remain attractive and we are actively reviewing opportunities. We aim to add to our portfolio in the weeks ahead.

We encourage investors to view our new RNS feed on the Starvest web site www.starvest.co.uk/announcements/

 
 Callum N Baxter 
  Chairman & Chief Executive 
  5 April 2017 
 

Enquiries to:

Callum Baxter, Chairman [e-mail] or John Watkins, Finance Director 07768 512 404; [e-mail]

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP - 020 7383 5100.

Nick Emerson or Andy Thacker - SI Capital Limited - 01483 413500

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April 05, 2017 05:57 ET (09:57 GMT)