Last checked at 12 Jan 2015 09:32
12 January 2015
Port Erin Biopharma Investments Limited
 (the "Company")
Net Asset Value calculation to 31 December 2014
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2014 was 14.29 pence per share, including un-invested cash of £431,744. The portfolio is valued under IFRS at bid price.
Net Assets stand at £4.8 million including Investments of £4.5 million. This quarter's NAV represents a decrease of 1.0% from the previous valuation of 14.42 pence per share, which included un-invested cash of £490,797. On this basis, no additional management fee is due to Shellbay Investments Limited.
Our holding in the Magna Biopharma Income Fund now represents 62% of the portfolio.
We are in the process of finalising a Tender Offer circular, the full details of which will be published later this month."
 | Unaudited to 31 December 2014 £ | |
Fixed Assets | ||
Investments | 4,468,412 | |
Current Assets | ||
Sundry Debtors | 13,739 | |
Uninvested cash | 431,744 | |
Current Liabilities | ||
Creditors: amounts due | -75,857 | |
4,838,038 | ||
Capital and Reserves | ||
Share Capital | 34 | |
Share Premium | 2,759,551 | |
Current year earnings | -143,388 | |
Retained earnings | 2,221,841 | |
4,838,038 | ||
Shares in Issue | 33,864,836 | |
Net Asset Value per share | 14.29 pence | |
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Portfolio Details
Investments as at 31 December 2014 | Value | % of Total Portfolio | |
Magna Biopharma Income Fund | £2,761,998 | 61.81% | |
Plethora Solutions Holdings | £561,875 | 12.57% | |
Summit Corporation | £509,833 | 11.41% | |
Other quoted holdings | £227,281 | 5.09% | |
Other unquoted holdings | £407,425 | 9.12% | |
Total | £4,468,412 | 100.0% | |
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For further information, please contact:
Port Erin Biopharma Investments Limited | Beaumont Cornish Limited | Peterhouse Capital Limited |
The Company | Nomad | Broker |
Denham Eke +44 1624 639396 | Roland Cornish +44 207 628 3396 | Lucy Williams +44 207 469 0930 |
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