TIDMRGO

RNS Number : 8674E

RiverFort Global Opportunities PLC

09 July 2019

9 July 2019

RiverFort Global Opportunities plc

("RGO" or the "Company")

Quarterly update to 31 March 2019

RiverFort Global Opportunities plc is pleased to provide a quarterly update to 31 March 2019.

Highlights

   --      Over GBP4.6 million invested in RiverFort-arranged opportunities as at the period end 
   --      Total investment income generated of GBP483,000 in the quarter 
   --      Net asset value up by around 5% over the quarter 
   --      The Company is continuing to build on the progress made in 2018 
   --      Significant cash balance available for further investment

-- Additional investments made during the period in companies including Jubilee Metals Group plc

Chairman's review

The progress made for 2018 has continued apace into the first quarter of this year, with the majority of the GBP483,000 of total investment income for the quarter being generated from RiverFort-arranged opportunities. Overall, after administration and other costs, Q1 2019 represented a profitable quarter for the Company.

The analysis of income for the period is set out below:

 
                                           Q1 2019       Year to 31 
                                                      December 2018 
                                               GBP              GBP 
                                          --------  --------------- 
 Investment income                             283              513 
                                          --------  --------------- 
 Net income from financial instruments 
  at FVTPL                                     200            (929) 
                                          --------  --------------- 
 
 Total investment income                       483            (416) 
                                          --------  ---------------

The improved level of total investment income in Q1 2019 was principally driven by the returns made from the Company's Q1 investments. In particular, the Company announced an investment of GBP1.2 million in Jubilee Metals Group plc during this period, its largest investment to date.

The key unaudited performance indicators are set out below:

 
Performance indicator                     31 March 2019   31 December   Change 
                                                                 2018 
-------------------------------------  ----------------  ------------  --------- 
Investment income                            GBP283,000    GBP513,000 
-------------------------------------  ----------------  ------------  --------- 
Net asset value                            GBP7,575,442  GBP7,254,727      +4.4% 
Net asset value - fully diluted per 
 share                                           0.112p        0.107p      +4.4% 
Closing share price                              0.085p        0.090p      -5.5% 
Net asset value premium to the share 
 price                                              31%           19% 
Market capitalisation                      GBP5,770,935  GBP6,110,000      -5.5% 
-------------------------------------  ----------------  ------------  ---------

The Company's principal investment portfolio categories are summarised below:

 
 Category                        Cost or valuation at 31 
                                              March 2019 
 
 Debt and equity- linked debt 
  investments                                  4,643,751 
                                ------------------------ 
 Equity investments                              719,391 
                                ------------------------ 
 Other                                           200,000 
                                ------------------------ 
 Cash resources                                2,048,437 
                                ------------------------ 
 
 Total                                         7,611,579 
                                ------------------------

The Company's net asset value has increased by around 5% during the quarter and the Company has continued to build its investment portfolio of RiverFort-arranged investments. Also, during this quarter, the Company's equity portfolio has grown slightly due to the further investment made in Pires Investments plc as part of that company's recent fund raising.

Further details about the Company's investment portfolio are set out on the Company's website at www.riverfortglobalopportunities.com.

The Company is continuing to see a number of interesting investment opportunities where it can deploy its investment funds in order to make attractive returns.

Philip Haydn-Slater

Non-Executive Chairman

9 July 2019

For more information, please contact:

   RiverFort Global Opportunities plc:                                            +44 (0) 20 3984 9191

Philip Haydn-Slater, Non-Executive Chairman

Nicholas Lee, Investment Director

Nominated Adviser:

Beaumont Cornish +44 (0) 20 7628 3396

Roland Cornish/Felicity Geidt

Joint Broker: +44 (0) 20 7601 6100

Shard Partners LLP

Damon Heath/Erik Woolgar

Joint Broker: +44 (0) 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

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