Thursday 7 January 2010
Starvest Plc
Chairman¢s update for shareholders ¢" 7 January 2010
Investment performance
The Starvest investment performance since 30 September 2009 has been mixed. Net
of debt, the Company net asset value has declined by 4.5% during the three
months to 31 December 2009. However:
* the closing share price at 7.0 pence, indicates a discount to net asset
value of 34%;
* investment sales have realised £416,525 with a gross profit of £210,326;
* the bank overdraft has been reduced below £300,000;
Starvest uses closing bid prices or the Directors¢ lower valuation, if deemed
appropriate.
Company statistics
31 December 30 September 30 June 2009 31 December
2009 2009 2008
Trading portfolio £4.17m £4.72m £4.3m £3.92m
value
Company asset value £3.84m £4.02m £3.62m £3.23m
net of debt
Net asset value ¢"
fully diluted per 10.59 pence 11.08 pence 10.01 pence 8.98 pence
share
Share price - mid 7.0 pence 11.75 pence 9.5 pence 6 pence
Share price discount
to fully diluted net 34% 6% premium 5% 33%
asset value
Market £2.44m £4.1m £3.31m £2.09m
capitalisation
The next valuation will be as at 31 March 2010, the end of the half year. An
interim statement is expected to be released during April 2010.
R Bruce Rowan
Chairman & Chief Executive
7 January 2010
Enquiries to:
Bruce Rowan, Chairman 020 7486 3997 or John Watkins, Finance Director
07768 512404; john@starvest.co.uk
Gerry Beaney or Colin Aaronson Grant Thornton Corporate Finance 020 7383 5100
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