TIDMRUG 
 
RENN UNIVERSAL GROWTH INVESTMENT TRUST PLC 
 
 
The Net Asset Value of the ordinary 25p shares of the Company at 28 February 2014 was as follows: 
 
 
Including current period revenue 302.54 pence (US507.01c) (includes revenue reserve losses up to 
and including 28 February 2014) 
 
Excluding current period revenue 307.92 pence (US516.03c) (includes revenue reserve losses up to 
and including the year ended 31 March 2013) 
 
The exchange rate at which this was calculated was =US$1.67585 
 
As at 28 February 2014, the Company holds net cash of GBP15.337m, including UK treasury gilts of 
GBP13.342m. The proportion of cash, including UK treasury gilts, is expected to rise following the 
adoption of the new investment policy and objective approved by shareholders on 17 April 2013. 
 
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 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 28 February 2014: $714,257 
 
Sterling equivalent at exchange rate above: GBP426,206 
 
 
Time value of unlisted warrants as at 31 December 2013: (adjusted for warrants subsequently 
 acquired, exercised, expired or disposed): $878 
 
Sterling equivalent at exchange rate above: GBP524 
 
 
Share price as at 28 February 2014: 270.75p 
 
Discount: (10.51%) 
 
 
04 March 2014 
 
 
END
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