Artemis Alpha Trust PLC Unquoted Investments Update (7732W)
August 21 2015 - 7:38AM
UK Regulatory
TIDMATS
RNS Number : 7732W
Artemis Alpha Trust PLC
21 August 2015
Artemis Alpha Trust plc (the "Company")
Unquoted Investments Update
Following a review of the unquoted investment portfolio, a
series of changes in valuations to reflect fair value have been
made, which, in aggregate, have resulted in a reduction of
approximately GBP2.5 million in the aggregate value of the
Company's unquoted investments. These changes are reflected in the
net asset value released today. The total value of the Company's
unquoted investments is now GBP49.0 million, representing 33.8% of
net assets.
In particular, the Company's valuation of Starcount has been
reduced by 33% to GBP5.2 million, adversely impacting the NAV by
1.7%. The reduction in value is primarily to reflect the dilution
arising from the introduction of a management incentive scheme and
conversion of an outstanding loan into equity. Whilst it is
disappointing to report the impact of the dilution on the value of
our current holding, the Company is in a considerably stronger
position and has built strong foundations to deliver value over the
long term.
For further information, please contact:
Artemis Fund Managers Limited
Company Secretary
Telephone: 0131 225 7300
This information is provided by RNS
The company news service from the London Stock Exchange
END
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