MFAI Mindflair Plc

TIDMPIRI

RNS Number : 4697N

Pires Investments PLC

24 September 2019

Pires Investments PLC

("Pires" or the "Company")

Market Update

The Company reports that, as at 20 September 2019, its unaudited net asset value was approximately GBP2.78 million or 4.2 pence per share. This compares to GBP2.36 million as at 30 April 2018 and represents an uplift of approximately 18%. This is principally as a result of the share price increase of the principal investment in its portfolio, Eco (Atlantic) Oil & Gas Limited.

The Company currently has a cash balance of circa GBP1.48 million and listed investments of circa GBP1.40 million.

Chairman, Peter Redmond said;

"I am very pleased that our net asset value has continued to grow, although our shares still trade at a significant discount to this figure. Going forward, we now have sufficient funds for our current and expected requirements, including our proposed investment into Sure Valley Ventures."

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

Enquiries:

 
 Pires Investments plc            Tel: +44 (0) 20 3368 8961 
  Peter Redmond, Non-Executive 
  Chairman 
  Nicholas Lee, Director 
 Nominated Adviser                Tel: +44 (0) 20 7213 0880 
  Cairn Financial Advisers LLP 
  Liam Murray/Tony Rawlinson 
 Broker                           Tel: +44 (0) 20 7469 0935 
  Peterhouse Capital Limited       Tel: +44 (0) 20 7469 0936 
  Duncan Vasey/Lucy Williams 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

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September 24, 2019 06:01 ET (10:01 GMT)

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