Agronomics Regulatory News (ANIC)

24 October 2018

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 30 September 2018

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2018 was 7.80 pence per share, including un-invested cash of £307,807. The portfolio is valued under IFRS at bid price.

Net Assets stand at £1.8 million including investments of £1.2 million. This quarter's NAV represents a decrease of 7.14% from the previous valuation of 8.40 pence per share, which included un-invested cash of £555,293. No management fee is due to Shellbay Investments Limited.

SalvaRX Group Plc gained 126% during the last quarter, reflecting announcements regarding proposed disposal and demerger with Portage Biotech Inc. Upon the announcement, shares jumped 76% reaching a peak of 78.5 per share.

During the quarter, the Company invested US$250,000 into BlueNalu Inc. A pioneer in the field of cellular aquaculture™, announced the closing of a $4.5 million seed round, just two months after announcing the launch of the company. BlueNalu's cellular aquaculture™ process will provide an alternative to current industry practices in which fish are farmed or wild-caught. BlueNalu will ultimately produce real seafood products directly from fish cells, in a way that is healthy for people, humane for animals, and sustainable for our planet.

Of our unquoted companies, Spiritus Pharmaceuticals Inc has been written down to zero value."

Portfolio Details

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