Net Asset Value
Golden Prospect Precious Metals Limited (LSE: GPM) announces that as at the close of business on 30 September 2026 its unaudited net asset value ("NAV") per ordinary share ("Share") was as follows:
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Date of announcement |
01 October 2026 |
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Date of NAV |
30 September 2026 |
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NAV per share - undiluted, bid basis |
117.85 pence per share |
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NAV per share - diluted*, bid basis |
117.03 pence per share |
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No of shares in issue |
81,407,773 |
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Subscription Exercise Price 2026 |
103.12 pence per share |
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Next Subscription Date |
01 December 2026 |
*Notes relating to the NAV dilution
The dilution is in relation to the effect of the Company's embedded annual Subscription Right. Shareholders should note that the dilution refers to the NAV per share dilution, not to the dilution of Shareholders' holdings in the Company. All Shareholders have the right to take up their subscription rights on 1 December in each year (the "Record Date") and those who do take them up in full don't have their percentage holding in the Company diluted. For those investors who don't take up their subscription rights, the Company endeavours to place in the market the shares that they were entitled to subscribe for, and then return the net sale proceeds to those investors as a way to deliver to them as much as possible of the value of their subscription rights, therefore reducing the dilution effect of not subscribing.
The calculation for the fully diluted NAV per share assumes that, based on the adjusted subscription exercise price of 103.12p, the maximum number of shares the Company can issue is 4,778,744, being the GBP 5 million maximum amount that the Company can issue without the requirement to publish a UK prospectus. Please note that the maximum shares that can be issued and the NAV dilution are only current estimates. Any further amendments to the dilution calculation will be communicated in subsequent NAV announcements.
About the annual Subscription Right
Shareholders have the right to subscribe for one new Ordinary Share for every five Ordinary Shares held in the Company on the Record Date, as outlined in the circular published on 4 November 2022. The exercise price is equal to the undiluted NAV per share on 30 November one year prior (being 104.63 pence in 2025) minus any dividends marked xd subsequently. The aim of the programme is to enable to Company to grow through share issuance and it is subject to shareholder review at the annual general meeting ("AGM") in 2027 and at every fifth subsequent AGM thereafter.
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Enquiries |
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Manulife | CQS Investment Management Craig Cleland |
+44 (0) 20 7201 5368 |
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Cavendish Capital Markets Limited Robert Peel (Corporate Finance) |
+44 (0) 20 7908 6000 |
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Daniel Balabanoff / Pauline Tribe (Sales) |
+44 (0) 20 7720 0500 |
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NSM Funds Limited (Company Secretary) |
+44 (0) 1481 743030 |
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Tavistock Jos Simson / Gareth Tredway / Eliza Logan |
+44 (0) 20 7920 3150 |
About Golden Prospect Precious Metals
Golden Prospect Precious Metals Limited is a closed-ended investment company incorporated with limited liability in Guernsey on 16 October 2006. The Company's investment objective is to provide Shareholders with capital growth from a portfolio of companies involved in the precious metals sector.
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