17 Jan 2014 17:07
TAU CAPITAL PLC
(the "Company" or "Tau")
Investment Update
The Board of Tau announces that the Net Asset Value as at 31 December 2013, the financial year end of the Company will be released once a review of the investments in Stopharm LLP and Lucent Petroleum LLC has been completed by the Investment Adviser. This is expected by the end of March 2014.
Based on the Board's preliminary discussions with the Investment Adviser it is likely that further impairments will be made, with Lucent being reduced to zero and a significant reduction in the value of Stopharm. However discussions are at an advanced stage to progress certain business initiatives within Stopharm coinciding with changes to interests of shareholders. Further updates will be announced as soon as possible.
Further information, please contact:
IOMA Fund & Investment Management Ltd Philip Scales | Tel: +44 (0) 1624 681250 |
Numis Securities Ltd Nominated Adviser: Nick Westlake / Hugh Jonathan Corporate Broking: Alex Ham | Tel: +44 (0) 20 7260 1000
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TAU.L (TAU)