ARCH Arc Capital

 

TIDMARCH 
 
RNS Number : 6414N 
ARC Capital Holdings Limited 
15 June 2010 
 

 
 
 
 
                          ARC Capital Holdings Limited 
 
ARC Capital Holdings Limited (AIM: ARCH) announces that as at close of 
business on 31 May 2010, its unaudited net asset value ("NAV") per share was 
US$1.2849. The decrease in NAV was mainly due to the mark to market of our 
holding in listed, but under lock, investments. 
 
Valuation Methodology 
 
The Fund's investments are measured and reported at estimated fair value under 
US GAAP, in accordance with the Statement of Financial Accounting Standards 
No.157, Fair Value Measurement. 
 
Investments in listed securities are valued at the closing price on a national 
securities exchange on the valuation date, where the security is under lock up a 
discount is applied. Investments in unlisted securities are valued using fair 
values estimated with reference to the valuation methodologies recommended by 
the International Private Equity, Venture Capital and the US Private Equity 
Valuation Guidelines.   Valuation methodologies utilized include but are not 
limited to comparative transactions or performance multiples, latest round of 
financing and discounted cash flow.  The selection of appropriate valuation 
techniques may be affected by the availability of reliable inputs.  In some 
cases, one valuation technique may provide an appropriate estimation of fair 
value while in other circumstances, multiple valuation techniques may be 
appropriate. Once an appropriate valuation methodology is determined for an 
asset or liability, it will continue to be used until a more appropriate method 
is determined. 
 
The valuation of the investments are reviewed and approved by the valuation 
committee by making reference to the most recent quarterly independent valuation 
report produced by one of the Big Four accounting firms.  The latest valuation 
report is based on the 31 March 2010 financials of the portfolio's investee 
companies. 
 
 
 
15 June 2010. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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