Monday 10 December 2012
Starvest Plc
Net asset value update at 7 December 2012
In preparation for the Company's Annual General Meeting to be held at 3.00 pm
today as previously announced, the following is a brief update of the Company's
performance and portfolio value as at the close of business on 7 December 2012.
7 December 30 September 2012
2012
Trading portfolio value £3.02m £3.51m
Company asset net value £3.39m £3.66m
Net asset value per share 9.14 pence 9.86 pence
Share price - mid 5.88 pence 6.5 pence
Share price discount to net asset value 36% 34%
Market capitalisation £2.18m £2.41m
All valuations are based on the closing market bid prices or lower directors'
valuation as described in the 2012 annual report.
Investee company values have fallen by 14% since 30 September 2012, continuing
the steady decline since the end of 2010 and consistent with the natural
resources sector in which we are predominantly focussed. It remains our belief
that the troubled state of the world economy will continue to dominate markets
for some time to come. Having already received the tax refund indicated in the
annual report to 30 September 2012, the Company is well placed to await a
recovery.
Disclosures for the Annual General Meeting 10 December 2012
In accordance with the Disclosure and Transparency Rules, the Company advises
that for the purpose of the Annual General Meeting today, the Chairman, Ronald
Bruce Rowan, will hold discretionary proxies for each resolution in addition to
10,170,000 Ordinary shares in a personal capacity. Therefore, the Chairman's
total interest to be disclosed is as follows:
Resolution 1 10,230,338 27.56%
Resolution 2 10,230,338 27.56%
Resolution 3 10,230,338 27.56%
Resolution 4 10,230,338 27.56%
Resolution 5 10,230,338 27.56%
Resolution 6 10,230,338 27.56%
At the conclusion of the meeting, the Chairman's personal interest will revert
to 27.40%
R Bruce Rowan
Chairman & Chief Executive
10 December 2012
Enquiries to:
Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director
07768 512404; john@starvest.co.uk
Gerry Beaney, Colin Aaronson or David Hignell - Grant Thornton Corporate Finance
020 7383 5100
END
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Source: Starvest plc via Thomson Reuters ONE
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