Correction : Correction : Net Asset Value(s)
May 01 2008 - 1:12PM
UK Regulatory
The Net Asset Value calculation previously announced on the 29 April 2008 at
17:23 was incorrectly stated. The correct Net Asset Value calculations are set
out below:
US SPECIAL OPPORTUNITIES TRUST PLC
ESTIMATED NET ASSET VALUE CALCULATION AS AT
25 April 2008
UK GAAP
� million %
US Growth Investments 32.62 45.56
Portfolio
Cash 5.50 7.68
38.12 53.24
Income Investment companies 0.60 0.84
Portfolio
Reverse convertible bonds 4.94 6.91
and other fixed income
Cash 27.73 38.73
33.27 46.48
Other net current assets/(liabilities) 0.47 0.65
Derivatives Interest rate swap 0.00 0.00
Values
Cap & Collar Cylinder -0.26 -0.37
facility
Net Assets (including revenue 71.60 100.00
reserves
at 31 May 2007 of �1.12m)
Number of shares
in issue
Net Asset Value per Capital - 50,000,000
share:
Income 93.85p 49,670,000
ZDP 181.10p 13,799,000
US$
USD exchange rate used to revalue all US assets and 1.98860
liabilities
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 dollars) of unlisted warrants
every quarter. The twice weekly NAV calculations will be calculated by valuing
the intrinsic value of the warrants and adding the time value as at the most
recent quarterly valuation.
Intrinsic value of unlisted warrants as at 25 April 2008: $425,416
Sterling equivalent at exchange rate above: �0.21m
Time value of unlisted warrants as at 29 February 2008: $1,824,973
(adjusted for warrants subsequently acquired, exercised or
disposed)
Sterling equivalent at exchange rate above: �0.92m
END
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