12 Dec 2016 13:00
12 December 2016
Terra Capital Plc ('Terra' or 'the Fund')
30 November 2016- NAV Update
Ghi456
Terra Capital Plc, an AIM quoted investment company focussed on investing in value opportunities globally, primarily in frontier markets, announces that the estimated net asset value ('NAV') per share on 30 November 2016 was US$0.995. This represents a decrease in NAV of 2.60% over the prior month.
The return of the bond money lodged in respect of the tax demand by the Macau local authorities relating to the sale of the AIA tower in January 2012 has been now been received. As noted in the RNS announcement on 11 November 2016 the effect of this receipt was reflected in the 31 October 2016 NAV.
The Fund undertakes its activities in line with its strategy to generate high absolute returns by investing in what the Investment Manager believes are under-valued companies presenting significant value opportunities. Due to market inefficiencies, the Fund and its Investment Manager, Terra Partners Asset Management Limited believe that frontier markets provide many such prospects.
The NAV per share figure as at 30 November 2016 is unaudited. The last quoted price per share on the London Stock Exchange as of December 8, 2016 is US$0.8650.
**ENDS**
For more information, please visit www.terracapitalplc.com or contact:
Galileo Fund Services Limited (Administrator)
Frazer Pickering
+44 1624 692600
Panmure Gordon (UK) Limited (Nominated adviser and corporate broker)
Paul Fincham or Jonathan Becher
+44 20 7886 2500
Terra Capital plc.
Ian Dungate, Director
+44 1624 692600
St Brides Partners Ltd
Elisabeth Cowell / Frank Buhagiar
+44 (0) 20 7236 1177
NOTES:
Terra Capital plc is an AIM quoted investment trust focussed on generating high absolute returns while attempting to keep volatility to a minimum. The Fund predominantly invests in under-researched and under-valued companies listed on Frontier Market stock exchanges. The Fund Manager targets for investment companies that it believes are trading for less than their intrinsic worth and so, aside from any potential growth prospects, provide scope for capital appreciation as a result of a reversion towards their underlying value. Investments are also made in companies which are viewed as trading at fair value but which offer opportunities for growth at a reasonable price. The Investment Manager believes many such 'value' opportunities can be found in Frontier Markets due to inherent market inefficiencies in such markets. The Manager utilises in-house teams of its own analysts, resident on the ground in areas of interest to investigate suitable opportunities rather than rely on third party research.