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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 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSVE
RNS Number : 7369K
Starvest PLC
11 July 2017
11 July 2017
Starvest Plc ("Starvest" or "the Company")
Net Asset Value at 30 June 2017
In accordance with the Company's normal policy, it announces the net asset value as at the close of business on 30 June 2017 as follows:
30 June 31 March 30 September 2017 2017 2016 Trading portfolio GBP1.54m GBP1.29m GBP1.37m value Company net asset GBP1.87m GBP1.24m GBP1.27m value Net asset value 3.54 pence 2.84 pence 3.21 pence per share Share price - mid 3.50 pence 2.25 pence 2.25 pence Share price discount to net asset value 1% 21% 30% Market capitalisation GBP1.85m GBP0.98m GBP0.89m
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 30 June 2017 totalled GBP156,404.
Compared to the previous quarter the portfolio value increased by over 15% and the company net asset value increased by 50% (as at 30 June 2017) as a results of profit from share transactions.
Throughout the quarter to 30 June 2017 more favourable market conditions prevailed with global demand for commodities increasing. As we flagged in the previous quarter this trend continues which bodes well for commodity prices for the foreseeable future. Overall, market sentiment for the sector (mining) remained positive and this is reflected in our current portfolio value.
During May a modest GBP170,000 was successfully raised from a select group of sophisticated investors at the prevailing market price and, pleasingly, the share price has since performed well. Several sales of stock during the quarter added to the Company's cash balance without affecting its holding in major investee positions; one investment netted GBP335,000 before costs (approximately seven times the initial investment).
Callum N Baxter
Chairman & Chief Executive
11 July 2017
Enquiries to:
Callum Baxter, Chairman cbaxter@starvest.co.uk - 07922 255 933
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
NAVSFUFEFFWSESW
(END) Dow Jones Newswires
July 11, 2017 08:11 ET (12:11 GMT)
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