TIDMOXH
Following yesterday's release of the audited results of the Company for
the year ended 29 February 2020, the Board wishes to draw the attention
of shareholders to the following section of the 'First Quarter Results
Announcement' section of the Chairman's Statement, reproduced verbatim
from the Annual Accounts document and yesterday's RNS:
"First Quarter Results Announcement
As mentioned in the overview section above, the Directors estimate that
the NAV per share is 25.0p (unaudited) as of mid-May. At this time, and
unless there are reasons to suggest conditions are not similar at the
end of May 2020, we do not currently intend to issue a NAV as at 31 May
2020, and will update the market further with our half year results to
the end of August 2020. We do not currently consider that publishing
this quarterly result will add any value to shareholders, and not doing
so will save some costs".
The Board considers that the NAV per share of 25.0p remains a materially
accurate unaudited valuation as of 20 May 2020, a drop of 10% from the
audited valuation of 27.8p per share as at 29 February 2020. The
unaudited valuation of 25.0p per share was calculated using the closing
bid price of Scancell Holding plc on 14 May 2020 of 6.8p per Scancell
share.
Further information:
Lucius Cary or Andrea Mica 01865 784466
(END) Dow Jones Newswires
May 21, 2020 02:00 ET (06:00 GMT)
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