Amended Quarterly update
November 09 2004 - 12:39PM
UK Regulatory
RNS Number:0495F
Starvest PLC
09 November 2004
The following amends the 'Quarterly update' announcement released on 8 November
2004 at 18.14 under RNS number 0025F.
The only change is that the Board intended the price per share in the first
paragraph to be described as on a 'fully diluted pre-tax basis' instead of a
'fully diluted basis' as previously stated. All other details remain unchanged;
the complete amended text is detailed below.
STARVEST plc: Quarterly update
The Company announces that the net asset value based on mid-market closing
prices on Friday 29 October 2004 was #7.568 million, that is 19.35 pence per
share calculated on a fully diluted pre-tax basis.
In his quarterly update to Shareholders, the Chairman states:
"With the Starvest share price closing at 11.25 pence, the discount to net asset
value was 42%."
Starvest has made one further acquisition during the past three months and now
holds trade investments in the following companies:
* Agricola Platinum exploration in the www.agricolaresources.com
Resources plc Shetlands
* Beowulf Gold Gold exploration in www.beowulf-gold.com
plc Sweden
* Black Rock Oil and gas in England and www.blackrockpetroleum.com.au
Oil & Gas plc Australia
* Brazilian Diamond exploration in www.braziliandiamonds.com
Diamonds Brazil
Limited
* Franconia North American minerals www.franconiaminerals.com
Minerals
Corporation
* Gippsland Tantulum exploration in www.gippslandltd.com.au
Limited Egypt
* Hidefield Gold exploration in www.hidefield.com
Gold plc Brazil
* Matisse Cash shell
Holdings plc
* Myhome Domestic cleaning www.myhomeplc.com
International services
plc
* Sheba Gold exploration in www.shebagold.com
Exploration Ethiopia
(UK) plc
* Southern High value minerals in
African South Africa and Botswana
Resources plc
* St Helens Corporate finance advisor www.sthelenscapital.co.uk
Capital plc
"During the past two years, Starvest has developed a spread of investments which
we will continue to expand. Whilst we have no exclusive commitment to the
natural resource sector, we see this as having considerable growth potential for
the foreseeable future. Given this spread the Board believes Starvest to be an
attractive long term investment for the private investor."
"In addition, I am pleased to report:
* Starvest is currently committed to four further investments; each
investee company expects to launch on to AIM or OFEX within the next three
months.
* Starvest continues to receive new investment proposals from businesses,
mainly in the resources sector, which are evaluated over a period of six to
twelve months before a commitment is made. So as to finance these
opportunities, it is likely that the Board will seek to raise further funds
during the coming months."
END
Enquiries: John Watkins 01483 771992
This information is provided by RNS
The company news service from the London Stock Exchange
END
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