12th Jul 2007 07:00
Ottoman Fund Limited (The)12 July 2007 For immediate release 12 July 2007 The Ottoman Fund Limited Valuation as at 31 May 2007 The Board of The Ottoman Fund Limited (the "Fund") presents its quarterlyvaluation for the period ended 31 May 2007. The Fund invests in the developmentof local housing and holiday homes in the major cities and coastal resorts ofTurkey. Basic net asset value £137,454,786; 91.6p per share. Adjusted net asset value £155,839,355; 103.9p per share. The adjusted net asset value is based upon regular independent valuations of theproperty portfolio. It is provided in order that shareholders may identify valuecreated by the Fund from investing in locations and markets with strong growthpotential. Below is set out the revaluation of the Fund's assets that is not be reflectedon the balance sheet under IFRS. Net assets as at 31 May 2007 £137,454,786 Increase in valuation of inventory properties £18,384,568 Adjusted net asset value £155,839,355 Number of ordinary shares in issue 150,000,000 Adjusted net asset value per share as at 31 May 2007 103.9p Net assets as at 28 February 2007: £137,958,806 (92.0p per share) Adjusted net assets as at 28 February 2007: £152,981,452 (101.99p per share) The Fund is managed by Development Capital Management (Jersey) Limited. List of Contacts Development Capital Management 020 7355 7600 Roger Hornett Ertan Sevinc Tom Pridmore Buchanan Communications 020 7466 5000 Charles Ryland Isabel Podda Numis Securities 020 7260 1000 Iain McDonald Bruce Garrow This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ottoman Fund