Valuation date 31 December 2018
Currency GBP
NAV 72.5 pence
Share Price (mid) 62.0 pence
Discount 14.5 %
Cash held £10.4million (equivalent to 16.5 pence per share)
Valuation date 31 January 2019
Currency GBP
NAV 75.3 pence
Share Price (mid) 62.0 pence
Discount 17.7 %
Cash held £17.2million (equivalent to 27.2 pence per share)
The above NAVs reflect:
(i) an adjustment decreasing the value of the portfolio by circa £2.3million being the difference between the fair values of the portfolio and its net realisable value in light of the pending reorganisation proposals; and
(ii) recognising a provision of circa £0.4million in respect of estimated reorganisation costs
The combined impact of these two items was to decrease the NAV as at 31 December 2018 by 4.2p per share.
The Company's Share Price can be found at www.tisegroup.com and also on SETSqx [ticker – ELX].