During the six-month period ended 31 December 2015, the net asset value ("NAV") of the Company reduced to £26.3 million (10.5p per Share) from £26.6 million (10.6p per Share) at 30 June 2015 and £37.8 million (15.1p per Share) at 31 December 2014. The change in NAV during the first half of the financial year was caused mainly by a reduction in the fair value of the private equity portfolio of £3.5 million and an increase of £3.4 million (1.4p per Share) in the cash balances held. The value of other liabilities increased by £0.2 million. These aggregate changes mask a material change in the structure of the Company's income statement and balance sheet, which are explained in more detail below.
At 31 December 2015, the Company's cash balances increased to £13.2 million (5.3p per Share) from £9.8 million (3.9p per Share) at 30 June 2015 and £4.9 million (1.9p per Share) at 31 December 2014. The principal sources of cash during the period were from Elements Markets LLC ("Element Markets") and TEP (Solar Holdings) Limited ("TEP Solar"). Subsequent to period-end, cash held by TEP (Renewables Holding) Limited ("TEP Renewables") was paid to the Company. At the time of writing, TEP holds cash of approximately £17.6 million (7.1p per Share).
Great volume today, 9 X 4.9 k buys today.. Perhaps some news soon
Defo looks like a buy as the Bid has been stuck a 2.30 for 3days. Also my order which i placed would have been filled at that price, so a friend of a friend is pushing the price for someone to get a better SP. MMs stop taking the p!!
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