Starvest PLC Net Asset Value at 30 September 2018 (8488C)

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RNS Number : 8488C

Starvest PLC

03 October 2018

3 October 2018

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

Net Asset Value at 30 September 2018

Starvest PLC (LON:SVE), the London Stock Exchange AIM listed specialist mining and resources investment business, announces a Net Asset Value update as at 30 September 2018.

Callum Baxter, Chairman and CEO commented: 'A decline in market sentiment for basic resources has been experienced since January 2018 and as a result the Company Net Asset Value has decreased year on year by approximately 12% to GBP1.65m. Against this background, it is pleasing to note the robustness of the Company's investment portfolio with a current value of GBP1.5m, effectively same as at 30 September 2017. We have restricted purchases during the year to 30 September to preserve cash resources. With the oil price currently rising this may spur a renaissance in basic resources and our exposure to oil and gas stocks will likely benefit the overall portfolio value in the near term.'

The net asset value as at 30 September 2018 was as follows:

 
                              30 Sept 2018  31 March 2018   30 Sept 
                                                              2017 
 Trading portfolio value          GBP1.50m    GBP1.18m      GBP1.52m 
 Company net asset value          GBP1.65m    GBP1.38m      GBP1.88m 
 Net asset value per share      3.07 pence   2.61 pence    3.56 pence 
 Share price - mid              2.15 pence   2.13 pence    4.62 pence 
 Share price discount to 
  net asset value                      30%       18%          -30% 
 Market capitalisation            GBP1.16m    GBP1.13m      GBP2.44m 
 

All valuations are based on the closing market prices or lower directors' valuation as described in the 2017 annual report. The discounts applied to close prices at 30 September 2018 totalled GBP141,644.

Starvest is a specialist mining and resource investment company and has the industry knowledge and market exposure to select compelling opportunities early in the investment cycle.

Investors are encouraged to view our RNS feed on the Starvest web site www.starvest.co.uk/announcements

Callum N Baxter

Chairman & Chief Executive

3 October 2018

Enquiries to:

Starvest PLC

Callum Baxter Chairman/CEO [phone] [e-mail]

Grant Thornton UK LLP (Nomad)

Colin Aaronson or Harrison Clarke [phone]

SI Capital Ltd (Appointed Broker)

Nick Emerson or Alan Gunn [phone]

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October 03, 2018 06:03 ET (10:03 GMT)