St Peter Port Capital Limited – Half-year Report

St Peter Port Capital Limited – Half-year Report

St Peter Port Capital Limited (SPPC), the AIM quoted investment company announces its interim results for the six months ended 30 September 2018. 

Highlights

  • Investments in 6 companies* at period end valued at £12.9m  
  • NAV of 21.60p per share at 30 September 2018, up 4.5 per cent since 31 March 2018                                                                                                   
  • FX movements have contributed 1.5p, equivalent to approximately 6.9 per cent of the NAV per share at the period end
  • As at 30 September 2018, £66.3m realised since inception
  • £848k in cash and a liquid, listed floating rate note as at 6 November 2018
    * companies in which the Fund made pre-IPO investments, excluding those entirely written down                         

Lynn Bruce, Chairman of St Peter Port, said: 

“We continue to believe that the portfolio offers potential for capital gains from the current carrying values at which these interests are held on St Peter Port’s books. Nevertheless, these interests continue to remain substantially illiquid at present. We are therefore dependent on them achieving some form of investment validation (such as a significant third party fundraising or a significant commercial contract win) which in turn might stimulate some secondary market demand or, to the extent there is some demand in the secondary market, allow us to secure a better price.”

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