Agronomics Regulatory News (ANIC)

7.00am 10 April 2019

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 31 March 2019

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 March 2019 was 8.47 pence per share, including un-invested cash of £478,474. The portfolio is valued under IFRS at bid price.

Net Assets stand at £2.0 million including investments of £1.5 million. This quarter's NAV represents an increase of 4.05% from the previous valuation of 8.14 pence per share, which included un-invested cash of £523,584. No management fee is due to Shellbay Investments Limited.

On 28 March 2019, the Company sent out a Circular to shareholders regarding notice of a General Meeting to be held on 16 April 2019 at 11:00 a.m. at the Claremont Hotel, Loch Promenade, Douglas, Isle of Man, IM1 2LX. The Circular included a Form of Proxy to vote on the following:

(1) To approve and adopt the New Investing Policy of the Company; and

(2) To approve the change of name of the Company to Agronomics Limited.

The expected date to commence trading under the new name and TIDM is 23rd April 2019.

During the January 2019, SalvaRx Group plc ("SalvaRx"), a drug development company focused on acquiring and operating drug development programs in immuno-oncology, completed the sale of its 92.4% interest in its subsidiary, SalvaRx Limited to Portage Biotech Inc ("Portage"), a public company whose shares are traded on the Canadian Stock Exchange and the USOTC market, for a total consideration of US$67.5m, being satisfied by the issue of Portage Shares to the shareholders of SalvaRx. The Company received 3,333,330 shares in Portage as part of this transaction. In March 2019, Portage announced an additional investment in Stimunity S.A., a Paris-based cancer immunotherapy company, following a major milestone in its preclinical development plan which will enable it to start the manufacturing of its biological cGAMO-VLP lead compound.

Regent Pacific Group Limited announced in March 2019 that it is pursuing commercialization partners for Fortacin™ in the remaining key markets of North America, Latin America and the Middle East and that they had successfully registered Fortacin™ in both Hong Kong and Macau, allowing for sales and distribution later this year.

Thus, the Company's investment portfolio continues to show significant growth prospects for 2019 and beyond".

Portfolio Details

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