Baker Steel Resources Trust March 2022 Monthly Report

Net Asset Value

Baker Steel Resources Trust Limited (the “Company”) announces its unaudited net asset value per share at 31 March 2022:

Net asset value per Ordinary Share: 97.5 pence


The NAV per share has increased by 7.1% against the unaudited NAV at 28 February 2022, largely due to increases in the listed portion of the portfolio (in particular that of Tungsten West Plc) as well as partly due to the fall in the exchange rates of Sterling during the month.

The Company had a total of 106,462,502 Ordinary Shares in issue with a further 700,000 shares held in treasury as at 28 February 2022.

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