RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC
The Net Asset Value of the ordinary 25p shares of the Company at 19
December 2012 was as follows:
Including current period revenue 277.90
pence (US452.13c) (includes revenue reserve losses up to and
including 19 December 2012)
Excluding current period revenue 282.53
pence (US459.66c) (includes revenue reserve losses up to and
including the year ended 31 March
2012)
The exchange rate at which this was calculated was £=US$1.62695
The Net Asset Value calculation 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 19 December
$778,455 2012
Sterling equivalent at exchange rate £478,475
above:
Time value of unlisted warrants as at 28 September 2012:
(adjusted for warrants subsequently acquired, exercised,
expired or disposed) $27,500
Sterling equivalent at exchange rate £16,903
above:
Share price as at 19 December 2012 221.00p
Discount: (20.47%)
21 December 2012