29th Jul 2008 07:00
29 July 2008
The Ottoman Fund Limited
Valuation as at 31 May 2008
The Board of The Ottoman Fund Limited (the "Fund") presents its quarterly valuation for the period ended 31 May 2008. The Fund invests in the development of local housing and holiday homes in the major cities and coastal resorts of Turkey.
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At 31 May 2008 |
At 29 February 2008 |
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Net assets |
£121,903,384 |
£122,404,820 |
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Net asset Value Per Share |
90.5p |
90.8p |
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Net assets (fair value basis) |
£131,613,376 |
£132,114,812 |
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Net asset value per share (fair value basis) |
97.7p |
98.0p |
The net asset value (fair value basis) for 29 February and 31May 2008 are based upon the independent valuation of the property portfolio at 29 February 2008.
Below is set out the revaluation of the Fund's assets that is not reflected on the balance sheet under IFRS.
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Net assets as at 31 May 2008 |
£121,903,384 |
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Increase in valuation of inventory properties |
£9,709,992 |
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Net assets (fair value basis) |
£131,613,376 |
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Number of ordinary shares in issue |
134,764,709 |
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Net asset value per share as at 31 May 2008 (fair value basis) |
97.7p |
The Fund is managed by Development Capital Management (Jersey) Limited
List of Contacts
Development Capital Management 020 7355 7600
Tom Pridmore
Andrew Mitchell
Roger Hornett
Numis Securities Limited 020 7260 1000
Nominated Adviser
Nick Westlake
Corporate Broker
Charles Farquhar
Related Shares:
Ottoman Fund