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Last checked at 
19 Oct 2017 07:00
19 October 2017
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 30 September 2017
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2017 was 9.20 pence per share, including un-invested cash of £634,765. The portfolio is valued under IFRS at bid price.
Net Assets stand at £2.1 million including investments of £1.3 million. This quarter's NAV represents a decrease of 1.6% from the previous valuation of 9.35 pence per share, which included un-invested cash of £875,885. No additional management fee is due to Shellbay Investments Limited.
Of our principal investments: Regent Pacific Group Limited announced in August 2017 that the commercial launch of their flagship product, Fortacin™, will begin in early 2018; Summit Therapeutics PLC announced further positive data for the Phase 2 clinical trial with their selective antibiotic ridinilazole; and SalvaRx Group PLC announced in September 2017 that its wholly owned subsidiary had formed a joint venture with Immunova LLC to develop selective nanomedicine delivery, potentially minimising negative side-effects that patients experience under traditional therapies. We continue to be very positive in our assessment of our portfolio's prospects."
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| Unaudited to 30 September 2017 £ |
Fixed Assets |
|
|
| Investments | 1,304,740 |
Current Assets |
|
|
| Loan receivable | 200,000 |
| Sundry Debtors | 23,287 |
| Uninvested cash | 634,756 |
Current Liabilities |
|
|
| Creditors: amounts due | (27,880) |
|
| 2,134,903 |
Capital and Reserves |
|
|
| Share Capital | 23 |
| Share Premium | 1,890,142 |
| Reserves | 244,747 |
|
| 2,134,912 |
|
|
|
Shares in Issue |
| 23,195,558 |
|
|
|
Net Asset Value per share |
| 9.20 pence |
Portfolio Details
Investments as at 30 September 2017 | Value | % of Total Portfolio |
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|
|
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Regent Pacific Group Limited | £378,056 | 28.98% |
|
Summit Therapeutics PLC | £225,576 | 17.29%
|
|
SalvaRx Holdings PLC | £59,259 | 4.54% |
|
Other quoted holdings | £36,726 | 2.81% |
|
Other unquoted holdings | £605,123 | 46.38% |
|
Total | £1,304,740 | 100.00% |
|
|
For further information, please contact:
Port Erin Biopharma Investments Limited | Northland Capital Partners Limited | Peterhouse Capital Limited |
The Company | Nomad and Broker | Broker |
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|
|
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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