VANCOUVER, June 2, 2017 /CNW/ - (TSXV: PTF) Pender Growth Fund Inc. (the "Fund") announces an adjustment to the values of two of its significant private investments and the consequent increase in the net asset value (NAV) of the Fund.
As a result of recent business and financial success at the two private companies, overall market conditions and after receiving board approval, the Fund is increasing the value of its investment in these companies by an aggregate amount of $1.5 million (or $0.36 per share) to better reflect the companies' valuations in the calculation of the Fund's NAV.
As of the close of business today, the total NAV of the Fund was $19.4 million or $4.67 per Class C common share. The Fund's NAV is published on its website www.pendergrowthfund.com on a weekly basis. Other financial reports such as the Fund's investment portfolio and financial statements can also be found there.
About the Fund
The Fund is a closed-end investment fund with a goal of growing the NAV of the Fund on a per share basis over the long-term. The Fund will utilize its small capital base, closed-end structure and long-term horizon to invest in unique situations; primarily small cap, special situations, and illiquid public and private companies.
SOURCE Pender Growth Fund (VCC) Inc.
For further information: please visit www.pendergrowthfund.com or contact: Lucy Waters, (604) 688-1511, Toll Free: (866) 377-4743, firstname.lastname@example.org