Tuesday 6 December 2011
Net asset value update - 5 December 2011
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 5 December 2011.
5 December 2011 30 September 2011
Trading portfolio value £4.99m £5.47m
Company asset value net of debt £5.85m £6.62m
Net asset value - fully diluted per share 15.65 pence 17.57 pence
Share price - mid 12.25 pence 13.0 pence
Share price discount to fully diluted net 21.7% 26.0%
asset value
Market capitalisation £4.49m £4.77m
All valuations
are based on the closing market bid prices or lower Directors'
valuation as described in the 2011 annual report.
Values have fallen by 11.6% since 30 September 2011, reflecting the challenging
environment in which we live today. It remains our belief that the troubled
state of the world economy will continue to dominate markets for some time to
come. Given the Company's current cash resources, we can afford to wait
patiently for a recovery.
Disclosures for Annual General Meeting 6 December 2011
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 10,250,500 26.27%
Resolution 2 10,243,500 26.25%
Resolution 3 10,243,500 26.25%
Resolution 4 10,243,500 26.25%
Resolution 5 10,353,500 26.54%
Resolution 6 10,363,500 26.56%
Resolution 7 10,263,500 26.30%
At the conclusion of the meeting, the Chairman's personal interest will revert
to 26.07%.
R Bruce Rowan
Chairman & Chief Executive
6 December 2011
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 UK LLP Corporate
Finance 020 7383 5100
END
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Source: Starvest plc via Thomson Reuters ONE
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