Biotechnology Invest - Net Asset Value
01 July 1997 - 8:36PM
UK Regulatory
RNS No 7626a
BIOTECHNOLOGY INVESTMENTS LIMITED
1st July 1997
THE COMPANY ANNOUNCES THAT AS AT 31 MAY 1997, ITS NET ASSET VALUE
(UNAUDITED) WAS US DOLLARS 395.1 AND NET ASSET VALUE PER SHARE WAS
US DOLLARS 7.12.
NOTE: FOR THE PURPOSES OF THIS CALCULATION INVESTMENTS WERE VALUED
AS FOLLOWS:
1) QUOTED INVESTMENTS AT MARKET PRICES ON 31ST MAY 1997 ON A
RECOGNISED STOCK EXCHANGE.
2) UNQUOTED INVESTMENTS AT DIRECTORS' VALUATION AS AT 31ST MAY
1997 ON THE BASIS OF THE RECOMMENDATIONS OF THE INDEPENDENT
VALUATION ADVISORY BOARD.
3) RESTRICTED INVESTMENTS AT A DISCOUNT OF THE MARKET PRICE OF
FULLY MARKETABLE SHARES OF THE COMPANIES IN QUESTION.
THE VALUE OF INVESTMENTS NOT DENOMINATED IN US DOLLARS ARE CONVERTED
AT THE RATES OF EXCHANGE RULING ON 31ST MAY 1997.
COMPARABLE RECENT FIGURES HAVE BEEN:
NAV PER SHARE
US DOLLARS MILLION US DOLLARS
30 APRIL 1997 374.4 6.75
31 MAY 1996 362.6 6.53
FOR THE SECRETARY
ROTHSCHILD ASSET MANAGEMENT (CI) LIMITED
END