6 Oct 2015 14:21
Tuesday 6 October 2015
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 30 September 2015
The Company announces the net asset value as at the close of business on 30 September 2015 as follows:
30 September 2015 | 30 June 2015 | 31 March 2015 | 31 December 2014 | 30 September 2014 | |
Trading portfolio value | £1.04m | £1.84m | £2.14m | £1.60m | £4.15m |
Company net asset value | £1.14m | £1.95m | £2.26m | £1.80m | £4.40m |
Net asset value per share | 3.09 pence | 5.27 pence | 6.09 pence | 4.85 pence | 11.87 pence |
Share price - mid | 2.75 pence | 3.12 pence | 3.63 pence | 4.38 pence | 5.25 pence |
Share price discount to net asset value | 11% | 41% | 40% | 10% | 55% |
Market capitalisation | £1.02m | £1.16m | £1.35m | £1.62m | £1.95m |
As in the previous announcements, with one exception, all valuations are based on the closing market bid prices or lower directors' valuation as described in the 2014 annual report.
The modest improvement in net asset value from 31 December 2014 to 31 March 2015 has been completely reversed so that values are now reduced by 50% to an all-time low, consistent with the mineral exploration sector. We expect to comment in greater detail when we release our annual results towards the end of the month.
The Company's website, www.starvest.co.uk, has further details of the portfolio.
Callum Baxter Chairman & Chief Executive 6 October 2015 |
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Enquiries to:
Callum Baxter, callum@starvest.co.uk or John Watkins, Finance Director 07768 512404, john@starvest.co.uk
Colin Aaronson/Harrison Clarke - Grant Thornton UK LLP 020 7383 5100
Nick Emerson - SI Capital Limited 01483 413500
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SVE.L (SVE)