Last checked at 22 Jul 2014 07:00
For immediate release 22 July 2014
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 30 June 2014
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 June 2014 was 14.71 pence per share, including un-invested cash of £526,503 and an accrual carried forward of £379,057 for the management fee. The portfolio is valued under IFRS at bid price.
Thus in the full year, Total Assets have grown in value by 37.1% to just under £5.0 million, and Investments have grown in value by 65.6% to £4.8 million. This quarter's NAV represents a decrease of 4.5% from the previous valuation of 15.40 pence per share, which included un-invested cash of £736,392. On this basis, no additional management fee is due to Shellbay Investments Limited.
Our holding in the Magna Biopharma Income Fund continues to perform well, the value having risen by 7.0% to £2.9 million in the six months since inception."
| Unaudited to 30 June 2014 £ | |
Fixed Assets |
|
|
| Investments
| 4,830,908
|
Current Assets |
|
|
| Debtors: amounts owing | 24,997 |
| Un-invested cash
| 526,503
|
Current Liabilities |
|
|
| Creditors: amounts due
| (400,982)
|
|
| 4,981,426
|
Capital and Reserves |
|
|
| Share Capital | 34 |
| Share Premium | 2,759,551 |
| Current year's earnings | 1,381,475 |
| Retained earnings
| 840,366 |
| 4,981,426
| |
| ||
Shares in Issue
| 33,864,836 | |
Asset Value per share | 14.71 pence | |
|
--- ENDS ---
Portfolio Details
Investments as at 30 June 2014 | Value | % of Total Portfolio |
Magna Biopharma Income Fund | £2,901,683 | 60.06% |
Plethora Solutions Holdings | £852,500 | 17.65% |
Summit Corporation | £536,667 | 11.11% |
Other quoted holdings | £163,938 | 3.39% |
Other unquoted holdings | £376,120 | 7.79% |
Total
| £4,830,908 | 100.00% |
For further information, please contact:
Port Erin Biopharma Investments Limited | Beaumont Cornish Limited | Peterhouse Capital Limited |
The Company | Nomad | Broker |
Denham Eke +44 162 463 9396 | Roland Cornish +44 207 628 3396 | Jon Levinson +44 207 469 0935 |