Last checked at 
28 Oct 2016 07:00
To: RNS
From: Global Resources Investment Trust plc
Date: 28 October 2016
Net Asset Value and Portfolio Update
The unaudited net asset value (NAV) of the Company is noted below in pence per share. NAVs are calculated in accordance with stated policies. Applicable accounting standards and AIC recommendations are followed.
The NAV per ordinary share as at the close of business on 26 October 2016:
| Pence per Share Cum Ex Income Income
|
With financial liabilities at fair value | 23.16 23.16 |
With financial liabilities at par value | 23.16 23.16 |
The NAV above includes an adjustment to the carrying value of the Company's investment in Anglo African Minerals plc ("AAM"), following a recently completed third party capital raising by AAM. Having successfully completed the fund raising, AAM has also recently announced that it has entered into the first stage of a joint venture agreement with a consortium consisting of two substantial Chinese corporations - China New Era Group Corporation and China Geo-Engineering Corporation on the co-development of the FAR project in Guinea. AAM believe that this is a significant milestone in creating shareholder value and securing the development of the FAR project.
The Board of Global Resources Investment Trust plc will look to reassess the carrying value of the Company's investment in AAM at the year end on 31 December 2016.
The Board also confirms that in the week commencing 31 October 2016 the Company will be repaying £1.0 million nominal of 9% Convertible Unsecured Loan Stock 2017 to LIM Asia Multi-Strategy Fund Inc ("LIM"). It expects to repay the balance of £1.5 million nominal of 9% Convertible Unsecured Loan Stock 2017 to LIM from the proceeds of continuing portfolio realisations.
For further information please contact:
David Hutchins
RDP Fund Management LLP
0207 290 8541
Martin A Cassels
R&H Fund Services Limited
0131 550 3760/3766
Important information
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014). Upon the publication of this announcement via Regulatory Information Service this inside information is now considered to be in the public domain.