PLC News 2008
18 March 2008
Preliminary Results for the year ended 31 December 2007
SovGEM Limited, the emerging market equity finance house, today reports its Preliminary Results for the year ended 31 December 2007. The Company was established principally for the purpose of making investments in Chinese and emerging market, small and mid-cap companies.
Highlights:
- Net Asset Value (NAV) increased 23.4% to 34.4p (2006: 27.9p)
- Three-year track record of consistent NAV growth established, compound annual growth rate (CAGR) of 39.9% since inception
- Total net assets of £7,844,707 (2006: £6,354,367), an almost tripling of our initial net asset value of £2,675,000
- Net unrealised gains of £1,937,043 (2006: £1,586,027)
- Total number of investments at year-end: 17 (2006: 15)
- Active year of investment
- Number of new investments: 3 (2006: 9)
- Follow-on investments: 5 (2006: 2)
- Partial disposals: 7 (2006: 4)
- Total disposals: 3 (2006: 1) - Positive outlook for 2008, despite recent market falls, with all of our unquoted investments stating that they intend to float this year (subject to market conditions) and all our OTC Bulletin Board quoted stocks expecting to graduate to senior exchanges (NYSE, NASDAQ & AMEX) this year
Hugh de Lusignan, Chief Executive Officer and co-founder of SovGEM, said: "We are delighted to have shown three years of successive NAV growth. Our China-focused investment strategy has seen a near three-fold increase of our assets over the last three years.
We are excited about 2008 both in terms of the unlisted investee companies which may float during the year (subject to market conditions) and those currently listed on junior markets, such as US Bulletin Board, which are expected to move up to more senior markets, which should see a positive re-rating of their valuations."
The full results are available to view and download in PDF format.
For further information:
| SovGEM Limited | |
| Hugh de Lusignan, Chief Executive Officer | Tel: +44 (0) 20 7389 0655 |
| hdelusignan@sovereigngroup.com |
NOMAD & Broker
| Landsbanki Securities (UK) Limited | |
| Tom Hulme / Sebastian Jones | Tel: +44 (0) 20 7426 9000 |
| tom.hulme@landsbanki.com |
Media enquiries:
Abchurch Communications Limited |
|
| Quincy Allan | Tel: +44 (0) 20 7398 7710 |
| quincy.allan@abchurch-group.com | www.abchurch-group.com |