News Releases
News releases 2008
17 September 2008
Interim Results for the Six Month Period Ended 30 June 2008
SovGEM Limited, the emerging market equity finance house, today reports its Interim Results for the Six Month Period Ended 30 June 2008. 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) per ordinary share 28.8p (30 June 2007: 33p), from peak reported NAV of 34.4p (31 December 2007)
- Profit for period £213,849 (Loss (£283,309) 30th June 2007)
- Resilient performance relative to major Chinese indices (China's CSI 300 Index off 65% from peak October 2007)
- Portfolio companies continue to report strong earnings and operating profits
Highlight since the period
- Robust performance since period end, current NAV of 26.9p (as of 12th September 2008).
For further information:
| SovGEM Limited | |
| Hugh de Lusignan, Chief Executive Officer | Tel: +44 (0) 20 7389 0655 |
| hdelusignan@sovereigngroup.com |
NOMAD & Broker
| Landsbanki | |
| 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 |
Notes to Editors
SovGEM Limited is an emerging market finance house incorporated in Jersey. Its geographic investment focus includes China and other emerging markets. SovGEM joined AIM in November 2004 (AIM: SOV). Since joining AIM (23 November 2004) its Net Asset Value has increased from 12.6p to 31.24 p (as of 19 May 2008).
The Company invests in high-growth companies, virtually all of which are also already profitable. SovGEM has an extensive network of professional advisors and associates giving the Company access to the small cap Chinese and other emerging markets. The Company aims to realise profits by investing in these companies as they undertake a major step change either through listing, evolving to a more senior financial market or undertaking an attractive rights issue. These investments may comprise straight equity or debt instruments with an equity conversion scheme.
Further information can be found at www.sovgem.com