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Last checked at 
12 Oct 2016 07:00
12 October 2016
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 30 September 2016
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2016 was 9.96 pence per share, including un-invested cash of £12,921. The portfolio is valued under IFRS at bid price.
Net Assets stand at £2.35 million including Investments of £2.33 million. This quarter's NAV represents an increase of 7.33% from the previous valuation of 9.28 pence per share, which included un-invested cash of £11,985. No additional management fee is due to Shellbay Investments Limited.
The reported NAV to 30 September 2016 gained mainly due to an increase in the value of the Magna Biopharma Fund investment. The Company's three principal investments continue to show significant growth prospects for 2016 and beyond. In particular we note the positive news from Summit Therapeutics plc ("Summit") on 4 October 2016 that it had entered into an exclusive licence and collaboration agreement with Sarepta Therapeutics for Summit's utrophin modulator pipeline."
Unaudited to 30 September 2016
| ||
£ | ||
Fixed Assets | ||
Investments | 2,329,568 | |
Current Assets | ||
Sundry Debtors | 9,190 | |
Uninvested cash | 12,921 | |
Current Liabilities | ||
Creditors: amounts due | (42,280) | |
2,309,399 | ||
Capital and Reserves | ||
Share Capital | 23 | |
Share Premium | 1,890,142 | |
Reserves | 419,234 | |
2,309,399 | ||
Shares in Issue | 23,195,558 | |
Net Asset Value per share | 9.96 pence |
Portfolio Details
Investments as at 30 June 2016 | Value | % of Total Portfolio | |
Magna Biopharma Income Fund | £1,312,807 | 56.4% | |
Regent Pacific Group | £302,568 | 12.9% | |
Summit Corporation | £197,513 | 8.5% | |
Other quoted holdings | £114,716 | 4.9% | |
Other unquoted holdings | £401,964 | 17.3% | |
Total | £2,329,568 | 100.0% | |
For further information, please contact:
Port Erin Biopharma Investments Limited | Northland Capital Partners Limited | Peterhouse Capital Limited |
The Company | Nomad and Joint Broker | Broker |
Denham Eke (+44) (0) 1624 639396 | Matthew Johnson / David Hignell (+44) (0) 203 861 6625 | Lucy Williams (+44) (0) 207 469 0936 |
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