St Peter Port Capital – Final Results March 2014
Final Results for the Year Ended 31 March 2014
St Peter Port Capital Limited (the “Company” or “St Peter Port”), the AIM quoted investment company whose aim is to generate value by investing predominantly in growth companies shortly before an initial public offering (“IPO”) or other exit event, announces its final results for the year ended 31 March 2014.
Highlights
· Investments in 32 companies* at year end
· NAV of 94.13p per share at 31 March 2014, down 15.8% on the year and 6.0% since 30 September 2013
· £5.0 million in cash realised since 1 April 2013, of which £3.4 million was achieved during the year and a further £1.6 million since the year end
· £63.9 million realised since inception, gain of 55% on cost from these investments
· £1.3 million invested during the year, with a further £0.4 million in an investment since the year end which has already been realised
· Significant positive developments in a number of our investments
· £5.2 million currently available in cash as at 10 July 2014.
* excluding companies entirely written down
Bob Morton, Chairman of St Peter Port, said:
“Most of the largest and most interesting holdings in the portfolio have yet to offer us an opportunity to realise our investment. We can see some major liquidity events becoming closer. The more buoyant market for smaller companies, especially tech-related, should facilitate this, as will positive developments in the larger holdings in the oil sector.
”There are good prospects that any sizeable transactions in the near future will be at a significant premium to our current carrying value. It is our intention to increase our efforts to accelerate their timing.”
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