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24 Sep 2019 11:01
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Pires Investments PLC
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("Pires" or the "Company")
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Market Update
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The Company reports that, as at 20 September 2019, its unaudited net asset value was approximately Ā£2.78 million or 4.2 pence per share. This compares to Ā£2.36 million as at 30 April 2018 and represents an uplift of approximately 18%. This is principally as a result of the share price increase of the principal investment in its portfolio, Eco (Atlantic) Oil & Gas Limited.
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The Company currently has a cash balance of circa Ā£1.48 million and listed investments of circa Ā£1.40 million.
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Chairman, Peter Redmond said;
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"I am very pleased that our net asset value has continued to grow, although our shares still trade at a significant discount to this figure. Going forward, we now have sufficient funds for our current and expected requirements, including our proposed investment into Sure Valley Ventures."
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This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
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Enquiries:
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Pires Investments plc Peter Redmond, Non-Executive Chairman Nicholas Lee, Director Ā | Ā Tel: +44 (0) 20 3368 8961 |
Nominated Adviser Cairn Financial Advisers LLP Liam Murray/Tony Rawlinson Ā | Ā Tel: +44 (0) 20 7213 0880 |
Broker Peterhouse Capital Limited Duncan Vasey/Lucy Williams | Ā Tel: +44 (0) 20 7469 0935 Tel: +44 (0) 20 7469 0936 Ā |
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