El Oro Ltd - Net Asset Value

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].