Last checked at 21 Oct 2014 07:00
For immediate release
21 October 2014
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 30 September 2014
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2014 was 14.42 pence per share, including un-invested cash of £490,797. The accrual of £379,053 for the management fee has now been settled. The portfolio is valued under IFRS at bid price.
Total Assets stand at £4.9 million and Investments stand at £4.4 million. This quarter's NAV represents a decrease of 1.97% from the previous valuation of 14.71 pence per share, which included un-invested cash of £526,503. On this basis, no additional management fee is due to Shellbay Investments Limited.
Our holding in the Magna Biopharma Income Fund continues to perform well, the value having risen by 12% to £2.6 million in the nine months since inception.
The Directors' intend to make a further announcement about the distribution of Magna Biopharma Income Fund shares at the end of the month which marks the conclusion of the lock-in period."
| Unaudited to 30 September 2014 £ | |
Fixed Assets |
|
|
| Investments
| 4,408,633
|
Current Assets |
|
|
| Debtors: amounts owing | 24,477 |
| Un-invested cash
| 490,797
|
Current Liabilities |
|
|
| Creditors: amounts due
| (39,027)
|
|
| 4,884,880
|
Capital and Reserves |
|
|
| Share Capital | 34 |
| Share Premium | 2,759,551 |
| Current year's earnings | (96,546) |
| Retained earnings
| 2,221,841 |
| 4,884,880
| |
| ||
Shares in Issue
| 33,864,836 | |
Asset Value per share | 14.42 pence | |
| ||
| ||
| ||
|
--- ENDS ---
Portfolio Details
Investments as at 30 September 2014 | Value | % of Total Portfolio | |
Magna Biopharma Income Fund | £2,613,899 | 59.29% | |
Plethora Solutions Holdings | £600,625 | 13.62% | |
Summit Corporation | £586,499 | 13.30% | |
Other quoted holdings | £209,110 | 4.74% | |
Other unquoted holdings | £398,500 | 9.04% | |
Total | £4,408,633 | 100.00% | |
For further information, please contact:
Port Erin Biopharma Investments Limited | Beaumont Cornish Limited | Peterhouse Capital Limited |
The Company | Nomad | Broker |
Denham Eke +44 162 463 9396 | Roland Cornish +44 207 628 3396 | Guy Miller +44 207 469 0930 |