28 Apr 2016 12:14
28 April 2016
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 27 April 2016
The Company announces that, as at the close of business on 27 April 2016, the net asset value had increased since the close of business on 31 March 2016 as follows:
27 April 2016 | 31 March 2016 | ||
Trading portfolio value | £1.32m | £1.04m | |
Company net asset value | £1.28m | £1.07m | |
Net asset value per share | 3.39 pence | 2.83 pence | |
Share price - mid | 2.88 pence | 1.25 pence | |
Share price discount to net asset value | 15% | 56% | |
Market capitalisation | £1.09m | £0.47m |
All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2015 annual report. The discounts applied to bid prices at 27 April 2016 totalled £122,575 (31 March 2016: £95,608).
A markedly improved trading environment since 31 March 2016 has resulted in significant gains in several portfolio stocks such as Ariana and Greatland Gold. Recent additions to the portfolio BMR Group and Salt Lake Potash have also been performing well. We continue to watch Oracle Coalfields with its very interesting power generation plans and are pleased with progress by Kefi. As ever, we are looking for sound investment opportunities to build the portfolio.
The Company plans to relaunch its website shortly, www.starvest.co.uk, where further details of the portfolio may be found.
Callum N Baxter Chairman & Chief Executive 28 April 2016 |
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Enquiries to:
Callum Baxter, Chairman callum@starvest.co.uk or John Watkins, Finance Director 07768 512 404; john@starvest.co.uk
Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.
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