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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Port Erin | LSE:PEBI | London | Ordinary Share | IM00B6QH1J21 | ORD 0.0001P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 4.50 | 4.00 | 5.00 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMPEBI
RNS Number : 2843P
Port Erin Biopharma Investments Ltd
07 February 2019
7 February 2019
Port Erin Biopharma Investments Limited
(the "Company")
Results of AGM and Net Asset Value calculation to 31 December 2018
The Company is pleased to announce that at the AGM held today all the resolutions tabled were duly passed.
In respect of the Net Asset Valuation for December 2018, Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2018 was 8.14 pence per share, including un-invested cash of GBP523,584. The portfolio is valued under IFRS at bid price.
Net Assets now stand at GBP1.9 million, including investments of GBP1.4 million. This quarter's NAV represents an increase of 4.36% from the previous valuation of 7.80 pence per share, which included un-invested cash of GBP307,807. No management fee is due to Shellbay Investments Limited.
Following the increase of Juvenescence Limited's ("Juvenescence") holding in investee company AgeX Therapeutics Inc ("AgeX") from 5.6% to 45.8% in August 2018, on 29 November 2018, AgeX announced that its shares commenced trading on the New York Stock Exchange. Following these events, our investment is now valued GBP0.3 million, an increase of GBP103,405 or 54% which is excellent news. Juvenescence has considerable expertise in developing companies with therapies to increase healthy human longevity and I believe their involvement with AgeX will continue to boost that company's success.
On 21 December 2018, The Diabetic Boot Company Limited repaid its loan note of GBP200,000 plus interest of GBP38,606.
The Company is in the process of concluding its strategic review and I look forward to announcing the result in due course".
Unaudited to 31 December 2018 GBP --------------------- Fixed Assets Investments 1,382,176 Current Assets Loan receivable - Sundry Debtors 13,761 Uninvested cash 523,584 Current Liabilities Creditors: amounts due (32,117) --------------------- 1,887,405 Capital and Reserves Share Capital 23 Share Premium 1,890,142 Reserves (2,760) --------------------- 1,887,405 Shares in Issue 23,195,558 Net Asset Value per share 8.14 pence
Portfolio Details
Investments as at 30 June 2018 Value % of Total Portfolio Regent Pacific Group Limited GBP384,516 27.82% AgeX Therapeutics Inc GBP293,498 21.23% SalvaRX Group plc GBP140,741 10.18% Other quoted holdings GBP21,500 1.56% Other unquoted holdings GBP541,921 39.21% Total GBP1,382,176 100.00%
For further information, please contact:
Port Erin Biopharma Beaumont Cornish Limited Optiva Securities Investments Limited Limited The Company Nomad Broker Denham Eke Roland Cornish/James Biddle Jeremy King +44 (0) 1624 639396 +44 (0) 207 628 3396 +44 (0) 203 137 1904
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
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February 07, 2019 02:00 ET (07:00 GMT)
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