ANIC Agronomics Limited

TIDMPEBI

RNS Number : 8179U

Port Erin Biopharma Investments Ltd

21 October 2014

For immediate release

21 October 2014

Port Erin Biopharma Investments Limited

(the "Company")

Net Asset Value calculation to 30 September 2014

Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 30 September 2014 was 14.42 pence per share, including un-invested cash of GBP490,797. The accrual of GBP379,053 for the management fee has now been settled. The portfolio is valued under IFRS at bid price.

Total Assets stand at GBP4.9 million and Investments stand at GBP4.4 million. This quarter's NAV represents a decrease of 1.97% from the previous valuation of 14.71 pence per share, which included un-invested cash of GBP526,503. On this basis, no additional management fee is due to Shellbay Investments Limited.

Our holding in the Magna Biopharma Income Fund continues to perform well, the value having risen by 12% to GBP2.6 million in the nine months since inception.

The Directors' intend to make a further announcement about the distribution of Magna Biopharma Income Fund shares at the end of the month which marks the conclusion of the lock-in period."

 
                                                                 Unaudited 
                                                      to 30 September 2014 
                                                                       GBP 
 Fixed Assets 
  Investments                                                    4,408,633 
 Current Assets 
  Debtors: amounts owing                                            24,477 
  Un-invested cash                                                 490,797 
 Current Liabilities 
  Creditors: amounts due                                          (39,027) 
                                                                 4,884,880 
 Capital and Reserves 
  Share Capital                                                         34 
  Share Premium                                                  2,759,551 
  Current year's earnings                                         (96,546) 
  Retained earnings                                              2,221,841 
                                                                 4,884,880 
 
 Shares in Issue                                                33,864,836 
 Asset Value per share                                         14.42 pence 
 
 
 
 
 

--- ENDS ---

Portfolio Details

 
 Investments as at 30 September            Value   % of Total Portfolio 
  2014 
 
 Magna Biopharma Income 
  Fund                              GBP2,613,899                 59.29% 
 Plethora Solutions Holdings          GBP600,625                 13.62% 
 Summit Corporation                   GBP586,499                 13.30% 
 Other quoted holdings                GBP209,110                  4.74% 
 Other unquoted holdings              GBP398,500                  9.04% 
 
 Total                              GBP4,408,633                100.00% 
--------------------------------  --------------  --------------------- 
 

For further information, please contact:

 
 Port Erin Biopharma    Beaumont Cornish Limited   Peterhouse Capital 
  Investments Limited                               Limited 
 The Company            Nomad                      Broker 
 
 Denham Eke             Roland Cornish             Guy Miller 
  +44 162 463 9396       +44 207 628 3396           +44 207 469 0930 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

NAVDBLFLZBFXFBX

Agronomics (LSE:ANIC)
Historical Stock Chart
From Jun 2024 to Jul 2024

Agronomics (LSE:ANIC)
Historical Stock Chart
From Jul 2023 to Jul 2024