14 Mar 2006 10:00
Starvest PLC14 March 2006 Starvest plc Net asset value update at 13 March 2006 The Directors are pleased to report the continuing increase the net asset valueof the Company's portfolio since 31 January 2006. Based on mid-market closingprices on Monday 13 March, the position was: •Company net asset value pre tax: £18.8m •Net asset value per share pre tax: 45.3 per share, fully diluted •Share price: 26.25 pence •Share price discount to NAV: 42.05% •NAV increase since 31 January 2006: £2.3m Investments Other than where required by the relevant regulations, it is not the policy ofthe Company to disclose the number of shares held in investee companies. Howeverthe Directors have decided to make an exception and advise that following recentsales of 5.75m ordinary shares in African Platinum plc at prices up to 30.25pence per share, the Company has recently raised £1.7m and made a gross profitof £1.64m. The Company continues to have a substantial holding of 10.25mordinary shares in African Platinum plc approximating to 2.4% of the shares inissue. Since the Interim report issued as at 31 January 2006, Starvest has made a newinvestment in Sunrise Diamonds plc, added to its investment in St Helen'sCapital plc and committed to support Greatlands Gold plc, a company withadvanced gold resources in Western Australia and Tasmania, which expects to beadmitted to AIM later this year. Extraordinary general meeting The result of the extraordinary general meeting of Members to be held at 3.00 pmtoday will be announced later. R Bruce RowanChairman & Chief Executive14 March 2006 Enquiries to: Bruce Rowan, telephone 020 7486 3997, John Watkins, telephone01483 771992 or to john@starvest.co.uk Company website: www.starvest.co.uk This information is provided by RNS The company news service from the London Stock Exchange