Biotech Growth Trust NAV 182.6P At March 31

16th Jun 2010 15:08

LONDON (Dow Jones)--The Biotech Growth Trust PLC (BIOG.LN) said Wednesday its net asset value per share at March 31 was 182.6 pence (March 31, 2009: 136.9 pence) -NASDAQ Biotechnology Index 618.1 (2009: 477.5) -Shareholders' funds GBP120.4 million (2009: GBP70.2 million) -During the full year ended March 31, the Company's net asset value per share rose by 33.4% compared to a rise of 29.4% in the Company's benchmark during the same period. -The Company's share price also outperformed the benchmark, rising by 34.7%, as the discount of share price to net asset value per share narrowed slightly from 4.7% at March 31, 2009 to 3.7% at the year-end. -No dividend is recommended in respect of the year ended March 31 (2009: Nil). -Continued merger and acquisition activity, a benign environment for initial public offerings and a number of expected high profile product approvals will all be key drivers for the sector. -Board believes that the Company is well positioned to take advantage of this bright outlook. -Focus continues to be on the selection of stocks with strong prospects for capital enhancement and continues to believe that the long term investor in its sector will be well rewarded. -Shares at 1407 GMT unchanged at 161.75 pence. -By Iain Packham, Dow Jones Newswires; 44-20-7842-9269; [email protected] Order free Annual Report for The Biotech Growth Trust PLC Visit http://djnweurope.ar.wilink.com/?ticker=GB0000385517 or call +44 (0)208 391 6028 (END) Dow Jones Newswires June 16, 2010 10:08 ET (14:08 GMT)