RiverFort Global Opp – Quarterly update to 30 September 2019

RiverFort Global Opp – Quarterly update to 30 September 2019

Further to the announcement of 31 October 2019, RiverFort Global Opportunities plc is pleased to provide a detailed quarterly update for Q3 to 30 September 2019.

 

Highlights

·      Total income generated in Q3 of £252,000, making a total of £919,000 for the first nine months of 2019

·      Increase in net asset value since 30 June 2019 of around 3%, or almost 9% over the first 9 months of 2019

·      NAV per share is at a 55% premium to the period end share price

·      £2.2 million of cash available for further investment

·      Very busy Q3 and start to Q4 with additional investments made in companies including Savannah Petroleum plc, Anglo African Oil & Gas plc, UK Oil and Gas plc, Infrastrata plc, Angus Energy plc and Ascent Resources plc

·      Continued strong demand for the Company’s investment capital

 

Chairman’s review

The Company has had a very busy Q3 and start to Q4 and has continued to build on its excellent 2019 interim results.  Further good progress has been made in Q3 2019, with the Company providing capital to a number of companies for a variety of uses including for working capital purposes and acquisitions.  These companies include some larger listed companies such as Savannah Petroleum plc and UK Oil & Gas plc.  The majority of our total investment income is now being generated from this type of investment.

 

The analysis of income for the period is set out below: 

                                                                                   

Q3 to 30 September 2019

Half year to 30 June 2019

£

£

Investment income

234

549

Net income from financial instruments at FVTPL

18

127

Total investment income

252

676

 

Total investment income of £252,000 was generated in the three months to 30 September 2019, making a total of £919,000 for the first nine months of 2019.

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