SVE Starvest Plc

 
TIDMSVE 
 
Monday 13 December 2010 
 
 
 
Net asset value update - 10 December 2010 
 
In  preparation for the Company's  Annual General Meeting to  be held at 3.00 pm 
today, as previously announced, the following is a brief update of the Company's 
performance and portfolio value as at the close of business on 10 December 2010. 
 
                                      10 December 2010 30  September 2010 Change 
                                                                               % 
 
Trading portfolio value                          GBP9.10m              GBP4.57m    99% 
 
Company asset value net of debt                  GBP8.96m              GBP4.19m   113% 
 
Net asset value - fully diluted per        24.01 pence        11.28 pence   113% 
share 
 
Share price - mid                          13.00 pence         7.75 pence    68% 
 
Share price discount to fully diluted            45.8%              31.3% 
net asset value 
 
Market capitalisation                            GBP4.77m              GBP2.84m    68% 
 
 
 
Inasmuch  as PLUS Markets are  now only displaying a  mid price on their website 
without  bid and offer prices, the mid prices less 20% are used.  All valuations 
are  based on  the closing  market bid  prices or  lower directors' valuation as 
described in the 2010 annual report. 
 
Other matters of note since 30 September 2010 are: 
 
 ·          Investment sales during the period have realised  GBP586,690 and a gross 
profit of  GBP416,690. 
 
 ·         Taxation has been fully provided for on the realised profits. 
 
 ·          GBP114,640 has been invested to add to an existing holding. 
 
 ·          The previous bank  overdraft has been  cleared, although the facility 
remains in place. 
 
Although  values have fallen slightly since the announcement on 23 November, the 
overall result for the period is excellent and demonstrates that our patience is 
being  rewarded.   We  believe  that  a  number  of our portfolio companies will 
continue  to prosper during the coming year so look forward to further net asset 
value improvements in the months ahead. 
 
Disclosures for Annual General Meeting 13 December 2010 
 
In  accordance with the  Disclosure and Transparency  Rules, the Company advises 
that  for the purpose of  the Annual General Meeting  today the Chairman, Ronald 
Bruce  Rowan, will hold discretionary proxies for each resolution in addition to 
10,170,000 Ordinary  shares in  a personal  capacity.  Therefore, the Chairman's 
total interest to be disclosed is as follows: 
 
Resolution 1      10,217,500         27.83% 
 
Resolution 2      10,277,500         27.99% 
 
Resolution 3      10,277,500         27.99% 
 
Resolution 4      10,237,500         27.88% 
 
Resolution 5      10,237,500         27.88% 
 
Resolution 6      10,275,500         27.98% 
 
At  the conclusion of the meeting,  the Chairman's personal interest will revert 
to 26.07%. 
 
 
 
 R Bruce Rowan 
 
 Chairman & Chief Executive 
 
 13 December 2010 
 
 
 
 
Enquiries to: 
 
Bruce   Rowan,   Chairman   020 7486 3997 or   John  Watkins,  Finance  Director 
07768 512404; john@starvest.co.uk 
 
Gerry Beaney or Colin Aaronson Grant Thornton Corporate Finance 020 7383 5100 
 
END 
 
 
 
 
 
 
 
 
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(i) the releases contained herein are protected by copyright and 
    other applicable laws; and 
(ii) they are solely responsible for the content, accuracy and 
     originality of the information contained therein. 
 
Source: Starvest plc via Thomson Reuters ONE 
 
[HUG#1471728] 
 

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