RUG Renn Universal

 
TIDMRUG 
 
RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC 
 
The Net Asset Value of the ordinary 25p shares of the Company at 27 July 2011 
was: 
 
Including current period revenue 281.56 pence (US 460.05c) (includes revenue 
reserve losses up to and including 27 July 2011) 
 
Excluding current period revenue 286.73 pence (US 468.50c) (includes revenue 
reserve losses up to and including the year ended 31 March 2011) 
 
The exchange rate at which this was calculated was GBP=US$1.63395 
 
The Net Asset Value calculation includes the effect of a write-off of GBP636,000 
of accrued interest, which the Board now believes is unlikely to be collected. 
 
The calculation also includes the time value of unlisted warrants in respect of 
the portfolio valuation. The Company has adopted the Black Scholes methodology 
and will calculate the time value (in US Dollars) of unlisted warrants every 
quarter. The warrants included in the portfolio for the twice weekly NAV 
calculations will be calculated by valuing the intrinsic value of the warrants 
and adding the time value as at the most recently calculated quarterly 
valuation. 
 
Intrinsic value of unlisted warrants as at 27 July 2011:               $270,001 
 
Sterling equivalent at exchange rate above:                            GBP165,244 
 
Time value of unlisted warrants as at 30 June 2011: (adjusted            $5,000 
for warrants subsequently acquired, exercised, expired or 
disposed) 
 
Sterling equivalent at exchange rate above:                              GBP3,060 
 
Share price as at 27 July 2011:                                         226.50p 
 
Discount:                                                              (19.56%) 
 
29 July 2011 
 
 
 
END 
 

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