El Oro Ltd Net Asset Value(s) (0280R)

TIDMELX

RNS Number : 0280R

El Oro Ltd

25 February 2019

El Oro Ltd

25 February 2019

El Oro Ltd. ("the Company") Registration No: 49778

Immediate Announcement: Net Asset Values for 31 December 2018 and 31 January 2019

   Valuation date            31 December 2018 
   Currency                     GBP 
   NAV                             72.5 pence 
   Share Price (mid)       62.0 pence 
   Discount                      14.5 % 
   Cash held                    GBP10.4million (equivalent to 16.5 pence per share) 
   Valuation date            31 January 2019 
   Currency                    GBP 
   NAV                             75.3 pence 
   Share Price (mid)        62.0 pence 
   Discount                       17.7 % 
   Cash held                     GBP17.2million (equivalent to 27.2 pence per share)

The above NAVs reflect:

(i) an adjustment decreasing the value of the portfolio by circa GBP2.3million being the difference between the fair values of the portfolio and its net realisable value in light of the pending reorganisation proposals; and

(ii) recognising a provision of circa GBP0.4million in respect of estimated reorganisation costs

The combined impact of these two items was to decrease the NAV as at 31 December 2018 by 4.2p per share.

The Company's Share Price can be found at www.tisegroup.com and also on SETSqx [ticker - ELX].

For further information, please contact:

Aztec Financial Services (Guernsey) Limited 01481 748831

Chris Copperwaite

   El Oro Ltd        www.eloro.com                        020 7581 2782

Robin Woodbine Parish, Chairman

Una Ni Dhonaill

Registered address: East Wing, Trafalgar Court, Les Banques, St Peter Port, GY1 3PP

End of announcement

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February 25, 2019 10:00 ET (15:00 GMT)

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