Starvest PLC Net asset value update at 31 March 2017 (6666B)
April 05 2017 - 5:57AM
UK Regulatory
TIDMSVE
RNS Number : 6666B
Starvest PLC
05 April 2017
5 April 2017
Starvest Plc ("Starvest" or "the Company")
Net asset value update at 31 March 2017
In accordance with the Company's normal policy, it announces the
net asset value as at the close of business on 31 March 2017 as
follows:
31 March 30 September 31 March
2017 2016 2016
Trading portfolio GBP1.29m GBP1.37m GBP1.04m
value
Company net asset GBP1.24m GBP1.27m GBP1.07m
value
Net asset value 2.84 pence 3.21 pence 2.83 pence
per share
Share price - mid 2.25 pence 2.25 pence 1.25 pence
Share price discount
to net asset value 21% 30% 56%
Market capitalisation GBP0.98m GBP0.89m GBP0.47m
All valuations are based on the closing market bid prices or
lower directors' valuation as described in the 2016 annual report.
The discounts applied to bid prices at 31 March 2017 totalled
GBP125,893.
Compared Q4 2016 our portfolio value remained relatively
constant as at 31 March 2017. Rebalancing of global supply and
demand for basic materials (gold, copper, iron ore, crude oil, etc)
continued in early 2017 which bodes well for commodity prices
throughout the remainder of the year. Overall, market sentiment for
the sector (mining) remains upbeat and this should have a positive
impact on share prices in the near term. Our share price performed
well during Q1 2017 but disappointingly declined in recent days.
Share price valuations in the sector remain attractive and we are
actively reviewing opportunities. We aim to add to our portfolio in
the weeks ahead.
We encourage investors to view our new RNS feed on the Starvest
web site www.starvest.co.uk/announcements/
Callum N Baxter
Chairman & Chief Executive
5 April 2017
Enquiries to:
Callum Baxter, Chairman cbaxter@starvest.co.uk or John Watkins,
Finance Director 07768 512 404; jwatkins@starvest.co.uk
Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP - 020
7383 5100.
Nick Emerson or Andy Thacker - SI Capital Limited - 01483
413500
END
This information is provided by RNS
The company news service from the London Stock Exchange
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