LONDON (Alliance News) - The Investment Company Thursday said its net asset value has risen "modestly but steadily" to 356.24 pence as of September 27, from 341.98 pence at the time it converted preference shares into ordinary shares in a capital reorganisation at the end of June.
In an interim management statement, the firm said its new managers have been cautious about investing the GBP4.3 million cash raised by the placing on June 26 into equities and is still holding GBP1.235 million in cash.
The company said its GBP500,000 facility with Barclays Bank remains undrawn.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com;
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Investment Co. (INV)