News blog

Port Erin Biopharma Investments Ltd

• BY: Andrew Hore |
• POSTED: 19/12/2014 |

Port Erin Biopharma investments Ltd should tell investors of its plans to distribute cash in the next few days.

The one-year lock-in for the stake in the Magna Biopharma Income Fund ended on 10 December and plans to distribute the shares to Port Erin shareholders were deemed too complicated so there will be a cash distribution via a tender offer.

The shares are trading at 11.5p, while the NAV is 15.9p a share. it has been estimated that the Magna stake could be worth the equivalent of 9p a share.

This will leave Port Erin as a shell with around 6p a share of cash and investments.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2014_63.pdf