TIDMPSD
RNS Number : 9799F
PSource Structured Debt Limited
22 June 2012
22/6/2012
PSource Structured Debt Limited
Performance for May 2012
The NAV per share for PSource Structured Debt Limited (PSD) as
at 31 May 2012 is $1.2435 (80.72p), representing a total return of
-0.38% for May 2012. At month end there were 59,564,681 shares in
issue and the total NAV was $74,069,336.
As at 31 May 2012, the Company had a cash balance of
$482,855.
The holding value of the Company's largest position, Parabel
(formerly PetroAlgae) is based on a share price of $8.70. For
further information please refer to the Company's recently issued
Interim Report.
As at 31 May 2012, the portfolio, which comprised of investments
in 19 companies, represented 101.72% of Total Net Asset Value. The
maximum position in any company was 80.09% of the portfolio (being
the holding in Parabel, held through a holding company PetroTech
Holdings, Inc). The top ten positions represent 99.7% of the
portfolio.
An analysis of the portfolio by geography and industry as at 31
May 2012 is set out below:
US State Debt/ Warrant/ No.
of
or Country Total Loan Equity companies
$ note $
$
------------ ------------------- ------------------ ------------------- -----------------
AZ 92,568 91,294 1,274 1
CA 145,522 88,357 57,165 2
Canada 3,649,593 3,646,631 2,962 2
CO 252,176 251,250 926 1
FL 66,219,552 11,286,177 54,933,376 3
IL 3,071,348 3,069,867 1,481 2
Israel 1,193 - 1,193 1
MO 38,063 38,063 - 1
NC 856,380 - 856,380 1
NH 13,672 - 13,672 1
NJ 56,878 - 56,878 1
NY 18,640 18,631 9 1
Other 314 - 314 -
TX 929,881 901,603 28,278 2
75,345,780 19,391,872 55,953,908 19
=================== ================== =================== =================
Debt/ Warrant/ No.
of
Industry Total $ Loan note Equity companies
$ $
------------------- ------------------------ ----------------------- ------------------------ -----------------
Biotech 6,734,849 4,087,667 2,647,182 4
Business Services 57,627 - 57,627 1
Computers 309,058 251,250 57,808 2
Consulting 3,069,867 3,069,867 - 1
Energy 14,195 - 14,195 1
Industrial 917,167 901,603 15,565 2
IT 1,193 - 1,193 1
Renewable
Energy 60,343,583 7,198,510 53,145,073 1
Other 316 - 316 -
Security 3,646,631 3,646,631 - 1
Technology 232,653 217,714 14,940 4
Telecom 18,640 18,631 9 1
75,345,780 19,391,872 55,953,908 19
======================== ======================= ======================== =================
Note: single company investments with a current valuation below
$500 are not considered in the company investment count.
A further analysis of the Company's portfolio and balance sheet
as at 31 May 2012 is set out below:
Balance sheet Analysis
----------------------------------- ------------ ------------ -----------
Loans % of Gross
Gross Debt $12,872,077 17.08%
Less Impairment -$678,715 -0.90%
------------
Net Debt (4) $12,193,363 16.18%
PetroTech Preferred (3) $7,198,510 9.55%
Total Loans $19,391,872 25.74%
------------
Equity
Penny warrants (1) $14,393 0.02%
Standard - In the money
(2) $56,880 0.08%
Standard - Out the money
(2) $932,883 1.24%
------------
Total Warrants $1,004,157 1.33%
PetroTech Common (3) $53,145,073 70.53%
Other Equities $1,804,678 2.40%
Total Equity $55,953,908 74.26%
------------
Gross Portfolio $75,345,780 100.00%
Cash $482,855 0.64%
Other Debtors/Liabilities/Accrued
Expenses -$1,759,299 -2.33%
NAV $74,069,336 98.31%
=================================== ============ ============ ===========
Monthly total return performance since inception is set out
below(5) :
Jan Feb Mar Apr May Jun Jul Aug Sep Oct Nov Dec YTD
------ ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- ------- -------- --------
2012 2.27% -0.53% -1.06% -0.39% -0.38% -0.12%
2011 -0.97% -0.95% -0.94% -1.73% -0.29% -3.08% -0.83% -0.96% -0.55% -0.39% -1.22% -21.79% -30.64%
2010 5.85% -0.11% 1.77% -2.02% -2.57% -2.17% -1.16% -4.29% 1.08% 0.72% -0.22% -1.30% -4.68%
2009 4.99% -5.25% 2.95% 1.16% 3.76% 1.66% 1.37% -0.13% -0.50% 1.47% 4.20% 4.70% 21.86%
2008 0.55% 1.87% 2.05% 1.49% 1.73% 0.72% 1.41% 2.43% 0.03% -2.14% -4.78% 0.37% 5.63%
2007 -0.38% 1.19% 2.49% 1.95% 1.64% 7.06%
Notes:
1. Penny warrants are warrants with a strike price of
approximately 1 cent per share. These are held at a 7% discount to
realisable value.
2. Standard warrants are held at a 30% discount to a
Black-Scholes valuation. Where the 260-day volatility provided by
Bloomberg exceeds 100%, 100% is used as the input to the
Black-Scholes model.
3. The Company's holding in Parabel is based on an effective share price of $8.70.
4. Debt is valued monthly with advice from the Company's
independent valuation agent, Clayton IPS, and is held at par less
appropriate impairment provisions.
5. Monthly returns based on Sterling returns until December 2008 and Dollar returns thereafter.
Further information is available on the Company's website:
www.psourcestructureddebt.com.
Contact:
Soondra Appavoo
PSource Capital Limited
020 3327 5251
This information is provided by RNS
The company news service from the London Stock Exchange
END
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Psource (LSE:PSD)
過去 株価チャート
から 5 2024 まで 6 2024
Psource (LSE:PSD)
過去 株価チャート
から 6 2023 まで 6 2024
