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5 Oct 2023 16:07
The Biotech Growth Trust Plc - Net Asset Value(s)The Biotech Growth Trust Plc - Net Asset Value(s)
PR Newswire
LONDON, United Kingdom, October 05
THE BIOTECH GROWTH TRUST PLC
NET ASSET VALUE
The estimated un-audited net asset value per share, calculated in accordance with the guidelines of the Association of Investment Companies, for The Biotech Growth Trust PLC at the close of business on 4 October 2023 was 797.70p (cum income).
Note: The valuation of StemiRNA (a private Chinese biotech company which comprised 1.75% of the Company's portfolio at 3 October 2023 has been reduced by 74% pursuant to the most recent valuation which was received by the Company after market close yesterday. The valuation was produced by Kroll, an independent third-party valuer, and has been reviewed and agreed by the AIFM and the Company's Valuation Committee.
The effect of the revaluation is a 1.3% decline in the Company's NAV, which has been incorporated into the NAV with immediate effect including, for the avoidance of doubt, in the above NAV figure. The valuation declined on the expectation that the company's next financing round will be at a substantially lower valuation to the previous round. Further details will be provided in the Company's September fact sheet and forthcoming half yearly report for the six months ended 30 September 2023.
For and on behalf of the Board
Frostrow Capital LLP
Secretary
05 October 2023
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