12 Jan 2017 07:00
Port Erin Biopharma Investments Limited
(the "Company")
Net Asset Value calculation to 31 December 2016
Jim Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2016 was 11.13 pence per share, including un-invested cash of £66,642. The portfolio is valued under IFRS at bid price.
Net Assets stand at £2.62 million including investments of £2.55 million. This quarter's NAV represents an increase of 11.7% from the previous valuation of 9.96 pence per share, which included un-invested cash of £12,921. No management fee is due to Shellbay Investments Limited.
The increase in reported NAV to 31 December 2016 is mainly due to an upturn in the value of the holding in Regent Pacific Group. The Company's three principal investments continue to show significant growth potential during 2017 and beyond".
Unaudited to 31 December 2016 £ | ||
Fixed Assets | ||
Investments | 2,548,237 | |
Current Assets | ||
Sundry Debtors | 8,592 | |
Uninvested cash | 66,642 | |
Current Liabilities | ||
Creditors: amounts due | (41,962) | |
2,581,509 | ||
Capital and Reserves | ||
Share Capital | 23 | |
Share Premium | 1,890,142 | |
Reserves | 691,344 | |
2,581,509 | ||
Shares in Issue | 23,195,558 | |
Net Asset Value per share | 11.13 pence |
Portfolio Details
Investments as at 31 December 2016 | Value | % of Total Portfolio | |
Magna Biopharma Income Fund | £953,318 | 37.41% | |
Regent Pacific Group | £740,148 | 29.05% | |
Summit Corporation | £170,706 | 6.70% | |
Investment loans | £200,000 | 7.85% | |
Other quoted holdings | £136,845 | 5.37% | |
Other unquoted holdings | £347,220 | 13.62% | |
Total | £2,548,237 | 100.00% | |
For further information, please contact:
Port Erin Biopharma Investments Limited | Northland Capital Partners Limited | Peterhouse Capital Limited |
The Company | Nomad and Broker | Broker |
Denham Eke (+44) (0) 1624 639396 | Matthew Johnson / David Hignell (+44) (0) 203 861 6625 | Lucy Williams (+44) (0) 207 469 0936 |
Agronomics (ANIC)