5 Nov 2008 07:00
St Peter Port Capital Limited ("the Company")
Net Asset Value
The net assets of the Company as at 30 September 2008 were £79.2m, giving a net asset value per share of 105.6 pence, an increase of 2.1 per cent from the net asset value as at 30 June 2008.
New Investment - Nusantara Energy PLC
In September 2008 the Company invested £2.25m in an unquoted company, Nusantara Energy PLC ("Nusantara"). Nusantara is developing a large deposit (at least 300m tonnes) of thermal coal in Sumatra, Indonesia and seeking to acquire further coal interests in Sumatra. Following an extensive drilling programme, Nusantara has identified the potential resource as high quality coal in thick seams very close to the surface. The location of this coal makes it ideal to supply the market for coal-fired power generation in South East Asia, where demand is strong. Nusantara is currently in discussions which may lead to a sale of the company itself or its interests.
Interim Results for the Six Months Ended 30 September 2008
The Company expects to release its interim results for the six months ended 30 September 2008 by the end of November.
For further information:
St Peter Port Capital Limited
Peter Griffin - 01481 751000
St Peter Port Investment Management Limited
Tim Childs - 020 7877 5064 / Graham Shore - 020 7408 4090
Deloitte & Touche LLP - Nominated Adviser
Jonathan Hinton / James Lewis - 020 7936 3000
Shore Capital Stockbrokers Limited - Broker
Dru Danford - 020 7408 4090
SPPC.L (SPPC)