Last checked at 17 Jan 2014 07:00
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 31 December 2013
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2013 was 15.91 pence per share, including un-invested cash of £840,366 and an accrual of £353,041 for the management fee. The portfolio is valued under IFRS at bid price. This quarter's asset value represents a decrease of 7.1% from the previous valuation of 17.13 pence per share, which included un-invested cash of £742,497. The performance, however, continues to represent an increase of nearly 100% over the initial cash available for investment at inception after listing and operating costs."
| Unaudited to 31 December 2013 £ | |
Fixed Assets |
|
|
| Investments
| 4,991,105 |
Current Assets |
|
|
| Debtors: amounts owing | 5,106 |
| Un-invested cash
| 802,741 |
Current Liabilities |
|
|
| Creditors: amounts due Note 1
| (410,810) |
|
| 5,388,142 |
Capital and Reserves |
|
|
| Share Capital | 34 |
| Share Premium | 2,759,551 |
| Current year's earnings | 1,788,181 |
| Retained earnings
| 840,366 |
| 5,388,142 | |
| ||
Shares in Issue
| 33,864,836 | |
Asset Value per share | 15.91 pence | |
| ||
Note 1: Including management fee accrual of £353,041 |
| |
| ||
|
--- ENDS ---
Portfolio Details
Investments as at 31 December 2013 | Value | % of Total Portfolio |
Magna Biopharma Income Fund |
£2,746,728 |
55.0% |
Plethora Solutions Holdings | £968,752 | 19.4% |
Summit Corporation | £637,500 | 12.8% |
Other quoted holdings | £318,155 | 6.4% |
Other unquoted holdings | £319,970 | 6.4% |
TOTAL INVESTMENTS | £4,991,105 | 100.0% |
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 |