Starvest PLC
10 August 2005
RNS announcement for release Wednesday 10 August 2005
Net asset value at 31 July 2005
The net asset value based on mid-market closing prices on Friday 29 July
2005 was £6.5 million of which £193,000 was uninvested cash. This valuation
equates to 16.9 pence per share calculated on a fully diluted pre tax basis.
With the Starvest share price closing at 8.5 pence, the discount to net
asset value at 29 July 2005 was 49%.
During the past three months Starvest has made four new investments as
follows:
India Star Energy plc, a company recently admitted to AIM with uranium
exploration interests;
Red Rock Resources plc, a spin off from Regency Mines plc and recently
admitted to AIM with Australian mineral exploration interests;
Franchise Investment Strategies plc, a company associated with Myhome
International plc and expecting to be admitted to Ofex; and
a pre IPO company expecting to be admitted to Ofex later in the year
with interests in Russia.
Many of the Starvest investments are in the natural resources sector, so it is
inevitable that prices and therefore the net asset value will fluctuate from
time to time. However, this is minimised by the increasing investment spread.
Whilst Starvest has no exclusive commitment to the natural resource sector, we
remain of the view that this sector has considerable growth potential for the
foreseeable future. With our increased spread, the Board believes Starvest to
be an attractive long term investment for private investors.
The Board expects to publish the Company's audited results for the full year to
31 July 2005 on or about 24 August 2005.
Those who wish to receive electronic copies of announcements are invited to
register their email address on the home page of the Company website:
www.starvest.co.uk.
R Bruce Rowan
Chairman & Chief Executive
10 August 2005
Enquiries to Bruce Rowan, telephone 020 7486 3997 or to chairman@starvest.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange