Seraphim Space IT
SSIT - 28.63pps currently & £69.18M market cap - on 31Mar23 based on their May-23 newsletter it had cash reserves of £39m and NAV of 91.77% (net assets of £220). Andrew, in your opinion what is a more realistic NAV for this IT which the market is discounting by almost 70%? At these levels can it survive, can it carry on with its business? It would be useful to have a quick view update if possible. Thank you.
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SSIT has been remarkably weak over the last month, even after its previous sharp falls. There are a few lines about it in this month's newsletter, out in a few days, and I think we'll probably return to the trust, which clearly represents an interesting case.