4th Oct 2006 07:00
Avarae Global Coins PLC04 October 2006 News Release 4 October 2006 HALF YEAR TRADING UPDATE Avarae Global Coins plc ("Avarae" or "the Company") - the UK's only funddedicated to investing in rare and high quality coins - today provides an updateon trading and details of its latest investments. The Company, which floated onAIM in late May this year, has quickly built up a significant portfolio of rareand antique coins and coin collections, commencing with its first investmentmade only a week after floating. Growing International Portfolio The portfolio now boasts some of the most important and rare coins from aroundthe world, including those previously announced purchases such as the 1344 "Double Leopard", one of only three known specimens and the only one in privateownership and the 1933 Pattern Penny, thought to be one of only four in theworld. The portfolio was recently strengthened through the purchase of a completecollection of some 236 German gold, silver and bronze coins which, because oftheir exceptional quality, are very rare. Minted under all the German rulersover a period of some 2,000 years, the collection dates from antiquity and therule of Alexander the Great right up to the 19th century. Hand picked forquality and assembled by an individual collector over a period of 28 years, thecoins were obtained in Germany by private treaty and will complement Avarae'simportant collection of German Multiple Talers. Avarae has also been active in acquiring important coins from the Far East. Asa consequence of the strength of the Chinese economy, Avarae is pleased toannounce that it has recently acquired a number of high-grade Chinese silverpattern Dollars. Commenting on trading and the investments made in the period up to 30 September2006, Brian Hatton, Executive Director at Avarae said: "We are very pleased with the rapid growth in the Company's portfolio of coinsin such a short time and in particular the fact that it is of such exceptionalquality. Whilst it is early days in terms of making any significantrealisations from the resale of some of our coins, with what we see as an everincreasing interest in the sector, we have good reason to be optimistic that wewill be making some significant gains over the course of the next few years. "Following our latest acquisitions, Avarae is now more than 40 per centinvested, which is very good news as we enter what is usually one of the busiestperiods in the numismatic calendar, with a number of high profile auctions andevents commencing. "The market in the Far East, particularly for high quality coins, is strong andwe intend to continue building this part of the portfolio. To that end, I mustmention the excellent work of the team at Noble Investments and our own AdvisoryPanel in sourcing many of our coin collections and in keeping us at theforefront of the numismatic world. It is their collective reputations that seeus being offered some of the most important individual collections around." Avarae expects to publish its maiden interim results for the period ended 30September 2006 in mid November 2006. - ENDS - HALF YEAR TRADING UPDATE../2 For further information on Avarae Global Coins plc, please contact: Gordon Puckey or Sarah ScottPhoenix Financial PR+44 (0)20 7947 2856 / 7 NOTES TO EDITORS 1. Avarae Global Coins plc ("Avarae" or "the Company") Avarae is a recently formed strategic investment company. Its strategy is toachieve long-term capital growth for its shareholders through the purchase,holding and collection of coins from around the World. 2. The Coin dealing sector The market for trading coins is international in nature and significant in size.The rare coins market has performed strongly of late, as a result of thegrowing interest in and popularity of alternative investments. Provided sufficient due diligence is undertaken prior to the purchasing ofindividual coins or portfolios of coins, such investments can offer theopportunity for attractive returns. The market is, by nature, supplyconstrained and should demand for coins continue to grow, this imbalance shouldsupport rising prices over the medium to long term. The coin-collecting sector is fragmented and includes a number of private andprofessional collectors as well as investors, dealers and auction houses. TheDirectors of Avarae consider that the fragmented market provides opportunitiesfor the Company to establish a valuable collection of coins, with the addedpossibility of expanding the operations of the Company by way of acquisitions inthe sector. 3. Noble Investments (UK) Plc ("Noble") Formed in 2003, Noble Investments is the only rare-coin trading company listedon AIM and the largest dedicated company of its type in this sector in the UK.Noble has acted as an adviser to Avarae since the Company's inception and isresponsible for sourcing rare coins of the very highest quality. Noble worksclosely with the Avarae Advisory Panel, which is headed by Sir John Wheeler. Noble generates its revenue through numismatics - the science of studying money.Noble itself invests in coins, but also provides assessment and sale servicesto clients, including auctions. Noble purchased AH Baldwin & Sons and Baldwin's Auctions in November 2005.Today, Noble has a wide range of global connections and is able to offer aprofessional opinion on coins minted in almost any country over the past 2,500years. This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
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