SVE Starvest Plc

TIDMSVE

RNS Number : 9930K

Starvest PLC

06 January 2016

Wednesday 6 January 2016

Starvest Plc ("Starvest" or "the Company")

Net asset value update at 31 December 2015

The Company announces the net asset value as at the close of business on 31 December 2015 as follows:

 
                          31 December   30 September   30 December   31 December 
                                 2015           2015          2014          2013 
 Trading portfolio           GBP1.11m       GBP1.04m      GBP1.60m      GBP1.95m 
  value 
 Company net asset           GBP1.12m       GBP1.14m      GBP1.80m      GBP2.36m 
  value 
 Net asset value                 3.02           3.09          4.85          6.35 
  per share                     pence          pence         pence         pence 
 Share price -                   2.38           2.75          4.38          3.88 
  mid                           pence          pence         pence         pence 
 Share price discount 
  to net asset 
  value                           21%            11%           10%           39% 
 Market capitalisation       GBP0.88m       GBP1.02m      GBP1.62m      GBP1.44m 
 

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2015 annual report. The discounts applied to bid prices at 31 December 2015 totalled GBP248,248 (30 September 2015: GBP241,750).

Challenging market conditions for mining stocks prevailed throughout Q4 2015 following declining commodity prices due to market oversupply. However, our trading portfolio value is weathering the storm with a modest increase from Q3 2015 displaying resilience in the current climate. The Company is actively seeking investment opportunities to add to its current portfolio.

The Company's website, www.starvest.co.uk, has further details of the portfolio.

 
 Callum N Baxter 
  Chairman & Chief Executive 
  6 January 2016 
 

Enquiries to:

Callum Baxter, Chairman callum@starvest.co.uk or John Watkins, Finance Director 07768 512404; john@starvest.co.uk

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 020 7383 5100.

END

This information is provided by RNS

The company news service from the London Stock Exchange

END

NAVLLFIILDIRIIR

(END) Dow Jones Newswires

January 06, 2016 05:08 ET (10:08 GMT)

Starvest (LSE:SVE)
Historical Stock Chart
From Jun 2024 to Jul 2024

Starvest (LSE:SVE)
Historical Stock Chart
From Jul 2023 to Jul 2024