REG - Starvest PLC - Net Asset Value <Origin Href="QuoteRef">SVE.L</Origin>

StarvestAnnouncement

05/10/2017 15:46

RNS Number : 8610S
Starvest PLC
05 October 2017
5 October 2017
Starvest Plc ("Starvest" or "the Company")
Net Asset Value Update at 30 September 2017
The Company announces the net asset value as at the close of business on 30 September 2017 as follows:

30 Sept 2017
30 June 2017
30 Sept 2016
Trading portfolio value
1.52m
1.54m
1.37m
Company net asset value
1.88m
1.87m
1.27m
Net asset value per share
3.56 pence
3.54 pence
3.21 pence
Share price - mid
4.62 pence
3.50 pence
2.25 pence
Share price premium to net asset value
30%
-1%
-30%
Market capitalisation
2.44m
1.85m
0.89m
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 30 September 2017 totalled 143,016.
The mining sector recovery continued during the quarter to 30 Sept 2017 and our portfolio value and cash generation through trading profits reflect this. Improvements in the sector and a more favourable global economic outlook have provided confidence to global markets. Following the improved conditions, we have seen a year-on-year positive move in net asset value of approximately 48%. Currently we are experiencing an increased interest in our portfolio positions and upside potential from the improving market. As such our year-on-year rise in market capitalisation is at around 270%. We look forward to adding further significant opportunities in the coming weeks.
Investors are encouraged to view our RNS feed on the Starvest web site www.starvest.co.uk/announcements/
Callum N Baxter
Chairman & Chief Executive
5 October 2017
Enquiries to: 
Starvest PLC
Callum Baxter Chairman/CEO 07922 255 933 cbaxter@starvest.co.uk
Grant Thornton UK LLP (Nomad)
Colin Aaronson or Harrison Clarke 02073 835 100
SI Capital Ltd (Appointed Broker)
Nick Emerson 01483 413 500

This information is provided by RNS
The company news service from the London Stock Exchange
  END
NAVDMMGGDKDGNZM