TIDMPEBI

RNS Number : 2843P

Port Erin Biopharma Investments Ltd

07 February 2019

7 February 2019

Port Erin Biopharma Investments Limited

(the "Company")

Results of AGM and Net Asset Value calculation to 31 December 2018

The Company is pleased to announce that at the AGM held today all the resolutions tabled were duly passed.

In respect of the Net Asset Valuation for December 2018, Jim Mellon, Chairman, commented: -

"The Net Asset Value ("NAV") calculation for the Company as at closing on 31 December 2018 was 8.14 pence per share, including un-invested cash of GBP523,584. The portfolio is valued under IFRS at bid price.

Net Assets now stand at GBP1.9 million, including investments of GBP1.4 million. This quarter's NAV represents an increase of 4.36% from the previous valuation of 7.80 pence per share, which included un-invested cash of GBP307,807. No management fee is due to Shellbay Investments Limited.

Following the increase of Juvenescence Limited's ("Juvenescence") holding in investee company AgeX Therapeutics Inc ("AgeX") from 5.6% to 45.8% in August 2018, on 29 November 2018, AgeX announced that its shares commenced trading on the New York Stock Exchange. Following these events, our investment is now valued GBP0.3 million, an increase of GBP103,405 or 54% which is excellent news. Juvenescence has considerable expertise in developing companies with therapies to increase healthy human longevity and I believe their involvement with AgeX will continue to boost that company's success.

On 21 December 2018, The Diabetic Boot Company Limited repaid its loan note of GBP200,000 plus interest of GBP38,606.

The Company is in the process of concluding its strategic review and I look forward to announcing the result in due course".

 
                                                              Unaudited to 
                                                      31 December 2018 GBP 
                                                     --------------------- 
Fixed Assets 
 Investments                                                     1,382,176 
Current Assets 
                            Loan receivable                              - 
 Sundry Debtors                                                     13,761 
 Uninvested cash                                                   523,584 
Current Liabilities 
 Creditors: amounts due                                           (32,117) 
                                                     --------------------- 
                                                                 1,887,405 
Capital and Reserves 
 Share Capital                                                          23 
 Share Premium                                                   1,890,142 
 Reserves                                                          (2,760) 
                                                     --------------------- 
                                                                 1,887,405 
 
Shares in Issue                                                 23,195,558 
 
Net Asset Value per share                                       8.14 pence

Portfolio Details

 
 Investments as at 30 June 2018           Value  % of Total Portfolio 
 
 Regent Pacific Group Limited        GBP384,516                27.82% 
 AgeX Therapeutics Inc               GBP293,498                21.23% 
 SalvaRX Group plc                   GBP140,741                10.18% 
 Other quoted holdings                GBP21,500                 1.56% 
 Other unquoted holdings             GBP541,921                39.21% 
 
 Total                             GBP1,382,176               100.00%

For further information, please contact:

 
Port Erin Biopharma   Beaumont Cornish Limited     Optiva Securities 
 Investments Limited                                Limited 
The Company           Nomad                        Broker 
 
Denham Eke            Roland Cornish/James Biddle  Jeremy King 
 +44 (0) 1624 639396   +44 (0) 207 628 3396         +44 (0) 203 137 1904

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

NAVMMGGZDVMGLZM

(END) Dow Jones Newswires

February 07, 2019 02:00 ET (07:00 GMT)

Agronomics (LSE:ANIC)
Gráfica de Acción Histórica
De Mar 2024 a Abr 2024 Haga Click aquí para más Gráficas Agronomics.
Agronomics (LSE:ANIC)
Gráfica de Acción Histórica
De Abr 2023 a Abr 2024 Haga Click aquí para más Gráficas Agronomics.