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It's come alive, long may it continue. Still trading well below the NAV and some good news could see this climb towards that figure.
A couple of buys today represents a tsunami of activity (by PEBI's standards).
Something happening (apart from someone recognising the discount to 8.14p per share NAV)?
Strategy and Outlook
The Board is in the process of finalising a strategic review and the optimum way to develop the opportunities that are available to the Company. I anticipate that we will be in a position to announce our future direction during the course of Quarter 1, 2019.
Given size most prob better to close it down and distribute proceeds given NAV at 8p and share price at circa 3p
I don't know about others, but I would say that after the 10th July is mid-July.
If things stay as they are, the Regent Pacific Group shares are up about £100,000, the Salva RX are down by about £20,000, and surprisingly and luckily, they have made money on the Summit shares, providing the remaining shares don't fall too much more. The NAV may therefore be more than last time, although I suppose the unquoted holdings are not included in my calcs.
Does anyone know if we can request valuation of their investment holdings please? I know the share will be at a discount to its NAV but I wanted see bow how much.
Not sure why we have a 10% drop today, but JM seems to be doing little or nothing to stop this share just disapearing
Disappointing drop today
Involved with SUMM ?
Very positive financials. Lets hope the loan repayment makes a difference on Friday.
Good results today, just a shame the share price doesn't reflect the NAV price
Flustered by the shock revelations about Diabetic Boot Company HERE, Jim Mellon's Port Erin (PEBI) published a December 31 NAV. Given that it published full year numbers when no-one was watching on 22 December this whiffs of panic. Unfortunately the statement begs more questions than it answers. The NAV at 31 December was 11.13p which is up 11.7% on the quarter or - put another way - more or less where it was eighteen months ago. But now to the questions. Cash is shown at £66,642. That suggests that Diabetic Boot has yet to repay the £200,000 emergency loan it took out on October 13 but which Port Erin neglected to mention until 22nd December even though it was a related party deal and material. Will Diabetic now repay that loan as Jim Mellon has provided it with a much larger £2 million facility? If not, given that net current assets are just £32,000 and that operating costs are just under £20,000 pcm what investments will Port Erin be forced to sell to stay solvent after mid February. If the loan is repaid, how much cash will Diabetic be left with and given all the funding it has received & guzzled over the past few years how long will that last? Why will Port Erin not inform us off the "missed milestones" at Diabetic? Given that Diabetic has failed to raise the cash it promised and has failed to hit milestones why is the carrying value of this investment not being reviewed? Shares in Port Erin are now 7p ( down from a 10p IPO price in 2011). You may think the discount to NAV is steep but the cash position suggests that either family silver will have to be sold or that a placing is needed. Given the stench of related party deals and non disclosures here, while Mr Mellon might follow his money ( he owns 29%) who else will be keen to follow his lead.
Lets hope this can continue, does this mean a positive RNS to come
12p.Not now.
Adfn says bail out.I did.Ayear ago a tip by them.
Think this is just more Mellon skulduggery, he certainly knows how to twist and turn those accounts, and allow certain directors to vastly overpay themselves i.e. Jamie Gibson. Wish he would concentrate on his various business's and not keep parading himself around various Investor conferences like he's the font of all knowledge. Think Summit has huge potential which in turn will benefit us here at PEBI, unfortunately though we very rarely get a positive RNS and all this share has done over the last few years is drift down. Come on Jim get this share working again.
Well that's strange. Life was suspended on the 6th due to a RTO announcement of DBC. Regent were meant to have paid DBC 1mill on the 15th oct which the RPG CEO said had not been paid due to the RTO. Yet how is it that PEBI could still loan 200k on the 13th Oct. How is this possible and where is the 1mill coming from if RPG is no longer going to pay it. All seems a bit fishy to me.
Regent Pacific up almost another 20% to 0.72 overnight in HK....
Still trading at a huge discount to NAV though, which I calculate at around 12p per share.
Long may it continue :)
Regent Pacific has zoomed upwards, and was up another 20% overnight to 0.61, so PEBI's holding must be worth around £0.6m now - double the £0.3m at 30th June. For the record, here's the portfolio at 30th June (the m/cap is around £1.7m): Investments as at 30 June 2016 Value % of Total Portfolio Magna Biopharma Income Fund £1,312,807 56.4% Regent Pacific Group £302,568 12.9% Summit Corporation £197,513 8.5% Other quoted holdings £114,716 4.9% Other unquoted holdings £401,964 17.3% Total £2,329,568 100.0%
Good to see :)
NAV at 30/9 reported this morning at 9.96p per share, up from 9.28p: Http://uk.advfn.com/stock-market/london/port-erin-PEBI/share-news/Port-Erin-Biopharma-Investments-Ltd-Net-Asset-Valu/72645271 And that excludes the uplift this month from SUMM, plus any uplift from DBC's upcoming reverse into LIFE: "The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2016 was 9.96 pence per share, including un-invested cash of GBP12,921. The portfolio is valued under IFRS at bid price. Net Assets stand at GBP2.35 million including Investments of GBP2.33 million. This quarter's NAV represents an increase of 7.33% from the previous valuation of 9.28 pence per share, which included un-invested cash of GBP11,985. No additional management fee is due to Shellbay Investments Limited. The reported NAV to 30 September 2016 gained mainly due to an increase in the value of the Magna Biopharma Fund investment. The Company's three principal investments continue to show significant growth prospects for 2016 and beyond. In particular we note the positive news from Summit Therapeutics plc ("Summit") on 4 October 2016 that it had entered into an exclusive licence and collaboration agreement with Sarepta Therapeutics for Summit's utrophin modulator pipeline."
by my records 377,654 shares x 2.53 = £955,465. This needs to be checked...... NAV must be north of 11.5p versus 6.5p to buy
I can't see how many shares PEBI own in SUMM anywhere. I think PEBI potentially had around 5.3m shares in March'13, which would have become around 265,000 shares post 1 for 20 consolidation. So the current SUMM stake would be worth almost £530k at the now 200p. Can anyone confirm?