SVE Starvest Plc

TIDMSVE

RNS Number : 4409I

Starvest PLC

30 August 2016

30 August 2016

Starvest Plc ("Starvest" or "the Company")

Net asset value update at 26 August 2016

The Company announces that, as at the close of business on 26 August 2106, the net asset value had increased since the close of business on 30 June 2016 as follows:

 
                           26 August      30 June 
                                2016         2016 
 Trading portfolio          GBP1.39m     GBP1.29m 
  value 
 Company net asset          GBP1.34m     GBP1.19m 
  value 
 Net asset value per      3.38 pence   3.09 pence 
  share 
 Share price - mid        1.88 pence   2.12 pence 
 Share price discount 
  to net asset value             44%          31% 
 Market capitalisation      GBP0.74m     GBP0.82m 
 

All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2015 annual report. The discounts applied to bid prices at 26 August 2016 totalled GBP133,624 (30 June 2016: GBP113,322).

A sustained recovery in the sector is apparent with continued improvements in portfolio companies such as Oracle Coalfields, BMR Group, Greatland Gold, Ariana Resources, Kefi Minerals, Sunrise Resources and Alba Minerals. Other investments such as Salt Lake Potash and Diamondcorp are also performing well.

Callum Baxter, Chairman and Chief Executive commented, "I am delighted to see continued improvement in the performance of our portfolio stocks and Starvest remains committed to investing at this stage of the commodities cycle where many cost effective opportunities exist. It is apparent that in this acquisitive phase many good companies will require funding to explore new projects and develop their exciting resources. We remain focussed on evaluating new opportunities in the sector but we also look to our existing portfolio companies, many in which we retain a significant stake, who will benefit greatly in this improved trading environment."

 
 Callum N Baxter 
  Chairman & Chief Executive 
  30 August 2016 
 

Enquiries to:

Callum Baxter, Chairman cbaxter@starvest.co.uk or John Watkins, Finance Director 07768 512 404; jwatkins@starvest.co.uk

Colin Aaronson or Harrison Clarke - Grant Thornton UK LLP 02073 835 100

Nick Emerson or Andy Thacker - SI Capital Limited 01483 413 500

This information is provided by RNS

The company news service from the London Stock Exchange

END

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