Last checked at 30 Jul 2015 07:01
7.00am 30 July 2015
Port Erin Biopharma Investments Limited
(the "Company")
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Net Asset Value calculation to 30 June 2015
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Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 June 2015 was 11.47 pence per share, including un-invested cash of £255,564. The portfolio is valued under IFRS at bid price.
Net Assets stand at £2.7 million including Investments of £2.5 million. This quarter's NAV represents a decrease of 6.9% from the previous valuation of 12.32 pence per share, which included un-invested cash of £405,665. On this basis, no additional management fee is due to Shellbay Investments Limited.
The reported NAV to 30 June 2015 suffered due to some adverse foreign exchange fluctuations in our holdings on translation to the sterling reporting currency. The underlying value of our investments in unaffected by these accounting movements and has no cash impact. The portfolio continues to demonstrate strong fundamentals, including Plethora Solutions Holdings plc which enjoyed an uplift of 21% over the quarter."
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 |  | Unaudited to 30 June 2015 £ |
Fixed Assets | Â | Â |
 | Investments | 2,454,953 |
Current Assets | Â | Â |
 | Sundry Debtors | 11,846 |
 | Uninvested cash | 255,564 |
Current Liabilities | Â | Â |
 | Creditors: amounts due | (61,600) |
 |  | 2,660,763 |
Capital and Reserves | Â | Â |
 | Share Capital | 23 |
 | Share Premium | 1,890,142 |
 | Reserves | 770,598 |
 |  | 2,660,763 |
 |  |  |
Shares in Issue | Â | 23,195,558 |
 |  |  |
Net Asset Value per share | Â | 11.47 pence |
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Portfolio Details
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Investments as at 30 June 2015 | Value | % of Total Portfolio | Â |
 |  |  |  |
Magna Biopharma Income Fund | £1,238,846 | 50.5% |  |
Plethora Solutions Holdings | £310,000 | 12.6% |  |
Summit Corporation | £408,150 | 16.6% |  |
Other quoted holdings | £188,665 | 7.7% |  |
Other unquoted holdings | £309,292 | 12.6% |  |
Total | £2,454,953 | 100.0% |  |
 |
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For further information, please contact:
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Port Erin Biopharma Investments Limited | Beaumont Cornish Limited | Peterhouse Capital Limited |
The Company | Nomad | Broker |
 |  |  |
Denham Eke (+44) (0) 1624 639396 | Roland Cornish (+44) (0) 207 628 3396 | Lucy Williams (+44) (0) 207 469 0936 |
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