News Releases
News releases 2008
27 November 2008
Net Asset Value Update
SovGEM (AIM:SOV.L), the emerging market finance house, announces that the Directors' best estimate of the Company's NAV as of close of business on 26 November 2008 is 15.5p per ordinary share.
The recalculation of NAV includes a revaluation of our unquoted portfolio by the Directors to reflect recent market developments.
The Directors' note that recent market turmoil has meant that asset values may vary dramatically on a daily basis.
For further information:
| SovGEM Limited | |
| Hugh de Lusignan, Chief Executive Officer | Tel: +44 (0) 20 7389 0655 |
| hdelusignan@sovereigngroup.com |
NOMAD & Broker
| Hanson Westhouse Limited | |
| Tim Metcalfe/ Martin Davison | Tel: +44 (0)20 7601 6100 |
| tim.metcalfe@westhousesecurities.com www.westhousesecurities.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).
The Company invests in high-growth companies, the majority of which are 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 pre-IPO, listing or evolving to a more senior financial market. These investments may comprise straight equity or debt instruments with an equity conversion scheme.
Further information can be found at www.sovgem.com