6 Jan 2016 10:08
Wednesday 6 January 2016
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 31 December 2015
The Company announces the net asset value as at the close of business on 31 December 2015 as follows:
31 December 2015 | 30 September 2015 | 30 December 2014 | 31 December 2013 | |
Trading portfolio value | £1.11m | £1.04m | £1.60m | £1.95m |
Company net asset value | £1.12m | £1.14m | £1.80m | £2.36m |
Net asset value per share | 3.02 pence | 3.09 pence | 4.85 pence | 6.35 pence |
Share price - mid | 2.38 pence | 2.75 pence | 4.38 pence | 3.88 pence |
Share price discount to net asset value | 21% | 11% | 10% | 39% |
Market capitalisation | £0.88m | £1.02m | £1.62m | £1.44m |
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 31 December 2015 totalled £248,248 (30 September 2015: £241,750).
Challenging market conditions for mining stocks prevailed throughout Q4 2015 following declining commodity prices due to market oversupply. However, our trading portfolio value is weathering the storm with a modest increase from Q3 2015 displaying resilience in the current climate. The Company is actively seeking investment opportunities to add to its current portfolio.
The Company's website, www.starvest.co.uk, has further details of the portfolio.
Callum N Baxter Chairman & Chief Executive 6 January 2016 |
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Enquiries to:
Callum Baxter, Chairman callum@starvest.co.uk or John Watkins, Finance Director 07768 512404; john@starvest.co.uk
Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.
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