Port Erin Biopharma Investments Ltd Net Asset Value(s) (2843P)
07 February 2019 - 6:00PM
UK Regulatory
TIDMPEBI
RNS Number : 2843P
Port Erin Biopharma Investments Ltd
07 February 2019
7 February 2019
Port Erin Biopharma Investments Limited
(the "Company")
Results of AGM and Net Asset Value calculation to 31 December
2018
The Company is pleased to announce that at the AGM held today
all the resolutions tabled were duly passed.
In respect of the Net Asset Valuation for December 2018, Jim
Mellon, Chairman, commented: -
"The Net Asset Value ("NAV") calculation for the Company as at
closing on 31 December 2018 was 8.14 pence per share, including
un-invested cash of GBP523,584. The portfolio is valued under IFRS
at bid price.
Net Assets now stand at GBP1.9 million, including investments of
GBP1.4 million. This quarter's NAV represents an increase of 4.36%
from the previous valuation of 7.80 pence per share, which included
un-invested cash of GBP307,807. No management fee is due to
Shellbay Investments Limited.
Following the increase of Juvenescence Limited's
("Juvenescence") holding in investee company AgeX Therapeutics Inc
("AgeX") from 5.6% to 45.8% in August 2018, on 29 November 2018,
AgeX announced that its shares commenced trading on the New York
Stock Exchange. Following these events, our investment is now
valued GBP0.3 million, an increase of GBP103,405 or 54% which is
excellent news. Juvenescence has considerable expertise in
developing companies with therapies to increase healthy human
longevity and I believe their involvement with AgeX will continue
to boost that company's success.
On 21 December 2018, The Diabetic Boot Company Limited repaid
its loan note of GBP200,000 plus interest of GBP38,606.
The Company is in the process of concluding its strategic review
and I look forward to announcing the result in due course".
Unaudited to
31 December 2018 GBP
---------------------
Fixed Assets
Investments 1,382,176
Current Assets
Loan receivable -
Sundry Debtors 13,761
Uninvested cash 523,584
Current Liabilities
Creditors: amounts due (32,117)
---------------------
1,887,405
Capital and Reserves
Share Capital 23
Share Premium 1,890,142
Reserves (2,760)
---------------------
1,887,405
Shares in Issue 23,195,558
Net Asset Value per share 8.14 pence
Portfolio Details
Investments as at 30 June 2018 Value % of Total Portfolio
Regent Pacific Group Limited GBP384,516 27.82%
AgeX Therapeutics Inc GBP293,498 21.23%
SalvaRX Group plc GBP140,741 10.18%
Other quoted holdings GBP21,500 1.56%
Other unquoted holdings GBP541,921 39.21%
Total GBP1,382,176 100.00%
For further information, please contact:
Port Erin Biopharma Beaumont Cornish Limited Optiva Securities
Investments Limited Limited
The Company Nomad Broker
Denham Eke Roland Cornish/James Biddle Jeremy King
+44 (0) 1624 639396 +44 (0) 207 628 3396 +44 (0) 203 137 1904
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END
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