Net Asset Backing Update
New Zealand Exchange Limited
P.O. Box 2959
Wellington
30 December 2011
Dear Sir,
Widespread Portfolios Net Asset Backing
We wish to advise that the unaudited net asset backing per Widespread Portfolios share, as at 8 a.m. today is 55.7 cents.
|
NET ASSET BACKING PER SHARE |
Per WID share |
Per WID share |
|
Investment |
AMR at market |
AMR at valuation |
|
Oil and gas assets |
0.022 |
0.022 |
|
Asian Mineral Resources (AMR) |
0.032 |
0.103 |
|
Chatham Rock Phosphate (based on independent valuation) |
0.399 |
0.399 |
|
King Solomon Mines |
0.019 |
0.019 |
|
Other investments & cash |
0.013 |
0.013 |
|
Total ($NZ per WID share) |
0.486 |
0.557 |
|
Current WID share price |
0.160 |
0.160 |
|
Discount to Net Asset Backing |
67.1% |
71.3% |
Diluted Net Assets per share
The fully diluted NTA per WID share is $0.98 assuming the listed warrants are exercised @ $2.982 and the unlisted director-held warrants are exercised @ $3.282. All warrants expire on 30 June 2012.
Net asset data is also available on our website (www.widespread.co.nz) and is updated regularly. For more information on Chatham Rock Phosphate Limited see www.rockphosphate.co.nz.
For and on behalf of the Board,
Chris D Castle
Onekaka, 30 December 2011
