CIP Merchant Capital Ltd - closed-ended investment company incorporated in Guernsey in 2017 - Appoints Piero Sansalone to its board as a non-executive director. Sansalone is currently an independent financial adviser and business consultant, and used to be responsible for Private Equity and Real Estate activities when he was investment manager at Continental Investment Partners SA.
Net asset value per share falls 10.4% to 75.35 pence as at June 30 from 84.09p on December 31. Says fall "broadly in line with the wider market" which has suffered amid the Covid-19 pandemic. Realises first exist from Circassia Group PLC, delivering IRR over 72%. Investment manager: "All of the company's investee companies are pursuing strategies in line with the company's investment targets, which has already led to encouraging developments at the portfolio company level. It is hoped that the market will value the progress in these companies, leading to improvements in the share prices of investee companies which will consequently lead to an improvement in the NAV of the company."
Current stock price: 48.00p
Year-to-date change: down 5.0%
By Anna Farley; firstname.lastname@example.org
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