Net Asset Value(s)

21 May 2020 07:00

Following yesterday’s release of the audited results of the Company for the year ended 29 February 2020, the Board wishes to draw the attention of shareholders to the following section of the ‘First Quarter Results Announcement’ section of the Chairman’s Statement, reproduced verbatim from the Annual Accounts document and yesterday’s RNS:

“First Quarter Results Announcement

As mentioned in the overview section above, the Directors estimate that the NAV per share is 25.0p (unaudited) as of mid-May. At this time, and unless there are reasons to suggest conditions are not similar at the end of May 2020, we do not currently intend to issue a NAV as at 31 May 2020, and will update the market further with our half year results to the end of August 2020. We do not currently consider that publishing this quarterly result will add any value to shareholders, and not doing so will save some costs”.

The Board considers that the NAV per share of 25.0p remains a materially accurate unaudited valuation as of 20 May 2020, a drop of 10% from the audited valuation of 27.8p per share as at 29 February 2020. The unaudited valuation of 25.0p per share was calculated using the closing bid price of Scancell Holding plc on 14 May 2020 of 6.8p per Scancell share.

Further information: Lucius Cary or Andrea Mica 01865 784466