RECM and Calibre Limited: Big improvement in NAV expected

RECM and Calibre Limited expected a substantial improvement in its net asset value (NAV) per share for the year to March, it said yesterday. It expected its NAV per share to be between R17.75 and R19, increasing by between 44 percent and 54 percent from the NAV per share of R12.32 reported a year earlier. The JSE-listed company is a joint venture between Regarding Capital Management Proprietary Limited, a fund manager, and Calibre Capital Proprietary. RECM and Calibre makes long-term investments with the objective of generating high real returns. The joint venture acquires assets where size, liquidity, regulations or complexity act as a deterrent to most buyers. RECM and Calibre shares rose 18.11 percent to close at R15. – Staff Reporter