6th Jan 2014 08:24
Monday 6 January 2013
Starvest plc
("the Company")
Net asset value update at 31 December 2013
The steady decline in valuations since early 2011 has continued during the quarter, with a further fall of 13.5% in the Company's net asset value since 30 September 2013.
The long awaited recovery for the junior companies seems as far away as ever and the fundraising challenge continues; invariably, they need new funds to enable them to continue their exploration and development plans.
Against this background, the Company announces its net asset values as at 31 December 2013 as follows:
31 December 2013 | 30 September 2013 | |||
Trading portfolio value | £1.95m | £2.52m | ||
Company net asset value | £2.36m | £2.73m | ||
Net asset value per share | 6.35 pence | 7.44 pence | ||
Share price - mid | 3.88 pence | 5.62 pence | ||
Share price discount to net asset value | 39% | 24% | ||
Market capitalisation | £1.44m | £2.09m |
All valuations are based on the closing market bid prices or lower directors' valuation as described in the 2013 annual report.
The Company will next update the market as soon as practicable after 31 March 2014, or in the event of a significant change in valuation during the quarter.
R Bruce Rowan Chairman & Chief Executive 6 January 2014 |
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Enquiries to:
Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director 07768 512404; [email protected]
Colin Aaronson or Ed Thomas - Grant Thornton UK LLP 020 7383 5100
END
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