|Many thanks Rivaldo - as Ochs says, straight from the horse's mouth, and seems like some sincerity regarding DBC. I was not aware that RPG were a substantial holder in DBC, but I should not be surprised. I guess PEBI's direct holding is a lot less than their indirect holding.
|Interesting update rivaldo and right from the horses mouth! So he was still positive about DBC?|
|News this morning of DBC - there is life! Life Science will de-list from AIM, but intend to carry out the DBS takeover and re-list on AIM, with a new financing etc. Let's hope DBC survives and continues:
I was fortunate enough to see Jim Mellon present last night to a small gathering. Amongst other topics he ran through some of his portfolio of companies. He didn't include PEBI specifically. However...
- I asked him afterwards about the discount to NAV etc, having noted I knew it was difficult for him to say anything not in the public arena. He and his colleague however were decidedly upbeat....
- re Plethora/Fortacin, Recordati have plans to produce 50,000 cans a day, which would produce £1m royalties per day to Regent Pacific
- re DBC, there had been disappointing management execution, but there's new management now, and the product works
- JM did specifically talk about SalvaRx in his presentation and was VERY bullish.|
|Hi,Thanks for the Northland info;,I also need to keep an eye on SalvaRx!This is a real game of patience; I suppose that is OK as long as I believe in the NAV increasing and the Discount decreasing before I reach the door of the old people's home.....Cheers, tightfist|
|Yep, it seems like the wait continues for concrete action, whether by PEBI to reduce the discount or one of the portfolio investees to surge.
Or for a press mention of the 40% discount to NAV :o))
FYI Northland have updated as follows today:
"Northland Capital partners view:
PEBI reported a strong gain in its Net Asset Value, up 20% YoY. Nevertheless, there is significant upside to the Company’s shares, as the Group’s market valuation still remains at a c. 50% discount to the underlying asset base. The Company's investments continue to show significant potential. Of note, Northland’s price target on one of PEBI’s portfolio holdings, namely SalvaRx, is 149p, while SalvaRx’s current share price is 30p. We also see significant upside to several other PEBI holdings."|
|Hi Rivaldo,Yes, it's good to see recognition of the discount issue, though action is more elusive.....Also interesting to see a little more info on the unquoted side with Luminor and SavaRx, those two plus DBC/Pulse-flow is where the cash from SUMM and Magna sales has been reinvested.By now I was expecting to see more on DBC reversing into LIFE; the clock is ticking!Cheers, tightfist|
|Final results out today - NAV of 11.13p per share. The share price discount is described as "significant and disappointing", with "a number of options" being considered.
It's decision time for DBC with PEBI's loan being due for repayment by 31st March.|
|It seems to me that PEBI has entered a complete backwater within the Mellon camp, it is getting minimal attention? I was hoping that Mellon would want to close it with a respectable result, to keep his record clean? The talk of closing the discount has come to nothing, after Tranche 1 in Autumn 2015.|
|Nobody on the PEBI stand at Master Investor yesterday. Shabby.|
|Hi Rivaldo,I reckon the NAV stands at about 11.3p. IIRC the DBC loan has to be settled by end March? I wonder how the IPO us shaping-up.Cheers, tightfist|
|Both Magna and Regent Pacific continue to do well, and SUMM is also climbing.
The next NAV announcement should be interesting.|
|The NAV looks to be up at around 11.4p and the discount back up to around 47%. Some things never change! tightfist|
|This explains the interest !
NAV of 11.13 pence
Pacific group doing well.
RNS Number : 9529T
Port Erin Biopharma Investments Ltd
12 January 2017
Port Erin Biopharma Investments Limited
Net Asset Value calculation to 31 December 2016
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2016 was 11.13 pence per share, including un-invested cash of GBP66,642. The portfolio is valued under IFRS at bid price.
Net Assets stand at GBP2.62 million including investments of GBP2.55 million. This quarter's NAV represents an increase of 11.7% from the previous valuation of 9.96 pence per share, which included un-invested cash of GBP12,921. No management fee is due to Shellbay Investments Limited.
The increase in reported NAV to 31 December 2016 is mainly due to an upturn in the value of the holding in Regent Pacific Group. The Company's three principal investments continue to show significant growth potential during 2017 and beyond".
Unaudited to 31 December 2016 GBP
Sundry Debtors 8,592
Uninvested cash 66,642
Creditors: amounts due (41,962)
Capital and Reserves
Share Capital 23
Share Premium 1,890,142
Shares in Issue 23,195,558
Net Asset Value per share 11.13 pence
Investments as at 31 Value % of Total Portfolio
------------------------- ------------- --------------------
Magna Biopharma Income
Fund GBP953,318 37.41%
Regent Pacific Group GBP740,148 29.05%
Summit Corporation GBP170,706 6.70%
Investment loans GBP200,000 7.85%
Other quoted holdings GBP136,845 5.37%
Other unquoted holdings GBP347,220 13.62%
Total GBP2,548,237 100.00%
------------------------- ------------- --------------------
For further information, please contact:
Port Erin Biopharma Northland Capital Partners Peterhouse Capital
Investments Limited Limited Limited
The Company Nomad and Broker Broker
Denham Eke Matthew Johnson / David Lucy Williams
(+44) (0) 1624 639396 Hignell (+44) (0) 207
(+44) (0) 203 861 6625 469 0936
This information is provided by RNS|
|I am guessing the 489,343 shares was a buy at 8p?
Mega volume, PI or Insti?|
|Why are the sellers not using the auction book process|
|Re pebi results out other day,
bad is no mention of discount control this time and the 200k professional fees a big issue, costs jm 30%, 65k of that
good is luminor and diabetic shoe company if hype true|
|not a good sign that JM may be using this vehicle to make loans to other companies he has an interest in ie recent loan from pebi to DBC
i'm invested in DBC which is reversing in to a listed company currently in suspension|
|Would anyone like to do a spreadsheet swap, ie see if they tally and if not why not ?|
|and getting better !|
|Nice start :o))|
|Regent Pacific up almost another 20% to 0.72 overnight in HK....|
|Moving nicely again. Still trading at a huge discount to NAV though.
Thx again tightfist.|
|Tightfist, I've sent you a PM as requested.
I've also updated the thread header. ADVFN's m/cap seems wrong as there's only 23.2m shares in issue - it s/be only £1.45m at 6.25p.
The other side of your post is that there's 100% upside from here to the current NAV - and more with Diabetic Boot about to hopefully IPO.|
|Hi Rivaldo,Apologies that I missed your postings over the last few weeks. Looking just at RP(PLE), Magna and SUMM (ignoring any value shifts in the Other categories) I estimate the NAV this morning at £2,827m or 12.2p and the current discount 51% where it seems to be stubbornly stuck!I see no further RNS news on Diabetic Boot reversing into Life Science Dev. - that could provide a useful uplift.Cheers, tightfistPS: Please send me a private message if you would like to see and check! my spreadsheet.|