REG - RiverFort Global Opp - Warrant Update

Riverfort Global OpportunitiesAnnouncement

06/08/2020 07:01

RNS Number : 2912V
  
RiverFort Global Opportunities PLC
  
06 August 2020
  
 

 
6 August 2020
RiverFort Global Opportunities plc
("RGO" or the "Company")
Warrant update
As part of its overall strategy when making investments, RGO will seek warrants or their equivalent which can increase significantly the return that it is able to achieve from its investments.  During Q2 2020, the Company exercised warrants in Eqtec plc with the shares then being sold at a price some 92% higher than the exercise price, resulting in an additional return to the Company of over £90,000.  
As at 31 July 2020, the Company's warrant portfolio included warrants in 23 different companies, including warrants granted as part of the recent transaction with Tanzanian Gold Corporation to help fund this company's significant increase in production capacity. The warrant portfolio includes warrants that have been issued by the following companies whose share prices have increased by the percentages shown since the beginning of the year: Whitehawk Limited (49%), Artemis Resources Limited (231%), Tanzania Gold Corporation (50%) and Canadian Overseas Petroleum Limited (442%). Currently, 39% of the warrant positions held are in the money, however, due to the inherent volatility associated with this form of instrument, the potential value of this warrant portfolio is not fully  reflected in the Company's net asset value and a return is only crystallised when the respective warrants are exercised and resulting shares sold. 
Phillip Haydn-Slater, Non-executive Chairman commented: 
"Given the current volatility of markets, we believe that our warrant portfolio offers significant scope to enhance the returns from our investment portfolio." 
This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014. 
For more information please contact: 



RiverFort Global Opportunities plc






+44 20 3368 8978




Phillip Haydn-Slater, Non-executive Chairman


























Nominated Adviser






+44 20 7628 3396 




Beaumont Cornish 












Roland Cornish/Felicity Geidt 


























Joint Broker






+44 20 7186 9950 




Shard Capital Partners LLP












Damon Heath/ Erik Woolgar


























Joint Broker






+44 20 7562 3351 




Peterhouse Capital Limited












Lucy Williams











 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.
 
  END
 
 
UPDKELFBBVLZBBL