3 Oct 2006 07:01
Starvest PLC03 October 2006 Net asset value update at 30 September 2006 The Directors are pleased to report the net asset value of the Company'sportfolio at 30 September 2006. Based on mid-market closing prices, the positionwas: • Company net asset value pre tax: £11.5m • Net asset value per share pre tax: 28.29 pence per share, fully diluted • Share price: 17 pence • Share price discount to NAV: 39.9% In common with the small-cap natural resources market in which Starvest islargely invested, the portfolio value has declined during the past months from£13.4m at 31 July and from £17.7m at 28 April 2006. Notwithstanding the decline in the net asset value, the Board remains contentwith the Company's spread of investments of which nineteen are in the naturalresource sector. As these companies execute their exploration plans, the Boardis confident of a recovery. The remaining five investee companies comprising 22%of the portfolio are in other business sectors. The Board expects to declare a profit for the fourteen month trading periodended on 30 September; an announcement is expected before the end of October.The annual report expected to be published by mid November will contain acommentary on each of the investments held. Appointment of nominated broker The Directors are pleased to announce the appointment with immediate effect ofSimple CFDs Limited as the Company's nominated broker to replace Keith BayleyRogers & Co Limited who have served in this capacity since the Company wasadmitted to AIM in 2000. Enquiries to: •Bruce Rowan, telephone 07956 941503 •John Watkins, telephone 01483 771992, or to john@starvest.co.uk This information is provided by RNS The company news service from the London Stock Exchange