Global Resources Investment Tst PLC Net Asset Value and Portfolio Update (6687N)
October 28 2016 - 2:00AM
UK Regulatory
TIDMGRIT
RNS Number : 6687N
Global Resources Investment Tst PLC
28 October 2016
To: RNS
From: Global Resources Investment Trust plc
Date: 28 October 2016
Net Asset Value and Portfolio Update
The unaudited net asset value (NAV) of the Company is noted
below in pence per share. NAVs are calculated in accordance with
stated policies. Applicable accounting standards and AIC
recommendations are followed.
The NAV per ordinary share as at the close of business on 26
October 2016:
Pence per Share
Cum Ex
Income Income
With financial liabilities at fair value 23.16 23.16
With financial liabilities at par value 23.16 23.16
The NAV above includes an adjustment to the carrying value of
the Company's investment in Anglo African Minerals plc ("AAM"),
following a recently completed third party capital raising by AAM.
Having successfully completed the fund raising, AAM has also
recently announced that it has entered into the first stage of a
joint venture agreement with a consortium consisting of two
substantial Chinese corporations - China New Era Group Corporation
and China Geo-Engineering Corporation on the co-development of the
FAR project in Guinea. AAM believe that this is a significant
milestone in creating shareholder value and securing the
development of the FAR project.
The Board of Global Resources Investment Trust plc will look to
reassess the carrying value of the Company's investment in AAM at
the year end on 31 December 2016.
The Board also confirms that in the week commencing 31 October
2016 the Company will be repaying GBP1.0 million nominal of 9%
Convertible Unsecured Loan Stock 2017 to LIM Asia Multi-Strategy
Fund Inc ("LIM"). It expects to repay the balance of GBP1.5 million
nominal of 9% Convertible Unsecured Loan Stock 2017 to LIM from the
proceeds of continuing portfolio realisations.
For further information please contact:
David Hutchins
RDP Fund Management LLP
0207 290 8541
Martin A Cassels
R&H Fund Services Limited
0131 550 3760/3766
Important information
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014). Upon the
publication of this announcement via Regulatory Information Service
this inside information is now considered to be in the public
domain.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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