TAU.L Regulatory News (TAU)

9 Jul 2007 07:00

Tau Capital PLC09 July 2007 TAU CAPITAL PLC TRADING UPDATE The board of Tau Capital plc (the "Company") is pleased to confirm that over the period following Admission, the Company has taken a measured approach to building up its public equity portfolio and is now over 70% invested. Since launch the Company has been actively pursuing a number of private equity opportunities across a range of sectors including consumer-related and commodities. Some of these opportunities look promising and are in active due diligence phase. NET ASSET VALUE The Board is also pleased to advise that, following consultation with the Investment Manager, the estimated Net Asset Value ("NAV") as at close of business on 30 June 2007 is $0.97 per share. Expenses relating to Admission of approximately $9.7 million, corresponding to 3% placement fees on the total funds raised as well as other professional fees have been deducted in calculating the NAV. The funds invested have generated a positive performance contribution over the period from Admission to the 30 June 2007 of approximately 0.5%. --ENDS-- Further information, please contact: Cynthia Edwards Tel: +44 (0) 1624 681381IOMA Fund & Investment Management Ltd Nick Westlake / Alex Ham Tel: +44 (0) 20 7260 1000Numis Securities Ltd This information is provided by RNS The company news service from the London Stock Exchange