Starvest PLC Net Asset Value (8610S)

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RNS Number : 8610S

Starvest PLC

05 October 2017

5 October 2017

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

Net Asset Value Update at 30 September 2017

The Company announces the net asset value as at the close of business on 30 September 2017 as follows:

 
                             30 Sept  30 June 2017    30 Sept 
                                2017                    2016 
 Trading portfolio          GBP1.52m    GBP1.54m      GBP1.37m 
  value 
 Company net asset          GBP1.88m    GBP1.87m      GBP1.27m 
  value 
 Net asset value          3.56 pence   3.54 pence    3.21 pence 
  per share 
 Share price - mid        4.62 pence   3.50 pence    2.25 pence 
 Share price premium 
  to net asset value             30%      -1%           -30% 
 Market capitalisation      GBP2.44m    GBP1.85m      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 September 2017 totalled GBP143,016.

The mining sector recovery continued during the quarter to 30 Sept 2017 and our portfolio value and cash generation through trading profits reflect this. Improvements in the sector and a more favourable global economic outlook have provided confidence to global markets. Following the improved conditions, we have seen a year-on-year positive move in net asset value of approximately 48%. Currently we are experiencing an increased interest in our portfolio positions and upside potential from the improving market. As such our year-on-year rise in market capitalisation is at around 270%. We look forward to adding further significant opportunities in the coming weeks.

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

 
 Callum N Baxter 
  Chairman & Chief Executive 
  5 October 2017 
 

Enquiries to:

Starvest PLC

Callum Baxter Chairman/CEO 07922 255 933 [e-mail]

Grant Thornton UK LLP (Nomad)

Colin Aaronson or Harrison Clarke 02073 835 100

SI Capital Ltd (Appointed Broker)

Nick Emerson 01483 413 500

This information is provided by RNS

The company news service from the London Stock Exchange

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October 05, 2017 10:44 ET (14:44 GMT)