FastForward Innovations Net Asset Value Increases In First Half

LONDON (Alliance News) - FastForward Innovations Ltd on Wednesday said its net asset value per share grew in the first half of its current financial year.

The stock was trading 9.5% higher on Wednesday at 10.40 pence a share.

The closed-ended investment company said its NAV per share in the six months to September 30 rose to 11.40p from 10.18p reported at the end of March.

FastForward said in the past period it disposed of its holding in Canadian cannabis company Aphria Inc for a gain of CAD11.4 million, about GBP6.8 million, over a 14 month hold period.

Using the proceeds of sale of Aphria, the company said it made investments into drug development firm Juvenescence Ltd and crypto-currencies company Vogogo Inc.

In addition to that, FastFoirward said it increased its interest in technology firm Factom Inc, gaming application developer Fralis LLC and live sciences firm Intensity Therapeutics Inc.

"I am excited by the prospects for all the companies in our portfolio," said Chairman Jim Mellon.