Terra Capital PLC Net Asset Value(s) (9719O)
November 11 2016 - 4:19AM
UK Regulatory
TIDMTCA
RNS Number : 9719O
Terra Capital PLC
11 November 2016
11 November 2016
Terra Capital Plc ('Terra' or 'the Fund')
31 October 2016- NAV Update
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Terra Capital Plc, an AIM quoted investment company focussed on
investing in value opportunities globally, primarily in frontier
markets, announces that the estimated net asset value ('NAV') per
share on 31 October 2016 was US$1.022. This represents an increase
in NAV of 2.50% over the prior month.
The return of the bond lodged in respect of the tax demand by
the Macau local authorities relating to the sale of the AIA tower
in January 2012 has been now been confirmed and its inclusion in
this valuation has increased the NAV of the Fund by approximately
2.8 cents per share. It should be noted that this increase of 2.8
cents per share is gross of management, performance and other
applicable fees.
The Fund undertakes its activities in line with its strategy to
generate high absolute returns by investing in what the Investment
Manager believes are under-valued companies presenting significant
value opportunities. Due to market inefficiencies, the Fund and its
Investment Manager, Terra Partners Asset Management Limited believe
that frontier markets provide many such prospects.
The NAV per share figure as at 31 October 2016 is unaudited. The
last quoted price per share on the London Stock Exchange as of
November 9, 2016 is US$0.8750.
**ENDS**
For more information, please visit www.terracapitalplc.com or
contact:
Galileo Fund Services Limited (Administrator)
Frazer Pickering
+44 1624 692600
Panmure Gordon (UK) Limited (Nominated adviser and corporate
broker)
Paul Fincham or Jonathan Becher
+44 20 7886 2500
Terra Capital plc.
Ian Dungate, Director
+44 1624 692600
St Brides Partners Ltd
Elisabeth Cowell / Frank Buhagiar
+44 (0) 20 7236 1177
NOTES:
Terra Capital plc is an AIM quoted investment trust focussed on
generating high absolute returns while attempting to keep
volatility to a minimum. The Fund predominantly invests in
under-researched and under-valued companies listed on Frontier
Market stock exchanges. The Fund Manager targets for investment
companies that it believes are trading for less than their
intrinsic worth and so, aside from any potential growth prospects,
provide scope for capital appreciation as a result of a reversion
towards their underlying value. Investments are also made in
companies which are viewed as trading at fair value but which offer
opportunities for growth at a reasonable price. The Investment
Manager believes many such 'value' opportunities can be found in
Frontier Markets due to inherent market inefficiencies in such
markets. The Manager utilises in-house teams of its own analysts,
resident on the ground in areas of interest to investigate suitable
opportunities rather than rely on third party research.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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