Storyboard Assets Plc

July 13, 2012 08:00 ET

Results from Recent Auction of Portfolio


                                           Storyboard Assets Plc
                                      ("Storyboard" or the "Company")
                                 Results from Recent Auction of Portfolio
Storyboard  announces  the  results  of  the recent auction of its portfolio.  Disappointingly,  many  lots
remained unsold. Total consideration for artworks released to the auction was £163,700, leaving the Company
with  total  sale  proceeds of £155,864.80. The sale result will lead to a loss on disposal  of  £48,150.91
against book value, which is a loss against the acquired cost.

The  Company  and  its shareholders have committed to selling the entire portfolio as part  of  the  agreed
strategy  of  Storyboard becoming a cash shell as defined by the PLUS Rules. In that regard, Storyboard  is
now  actively  looking for buyers of the balance of the collection. The Company has received  an  offer  of
£50,000 for the unsold lots from Mr David Heron, a major shareholder in Storyboard. If the Company were  to
accept  this  offer,  it would lead to a loss against book value of £106,441.09. The  book  value  for  the
remaining artworks are detailed below (Total, £156,441.09)

Any  shareholder  wishing to make an offer for any or all of the balance of the collection  should  in  the
first  instance  contact  Storyboard's Chairman, Marcus Yeoman, before Friday  27th  July  2012.  The  lots
remaining are as follows:

The Twits Get the Shrinks, Quentin Blake (The Twits) - (£1,344.63)
Sixes & Sevens, Quentin Blake - (£4,916.25)
Bod, Joanne Cole - (£1,729)
The Man of the Island, Edmund Dulac (Treasure Island) - (£12,000)
Look Here I've left my Purse Behind, EH Shepard (Wind in the Willows) - (£15,000)
You're the very image of Her, EH Shepard (Wind in the Willows) - (£12,500)
Kiss Goodnight Sam, Anita Jeram (Kiss Goodnight Sam), Elmer, David McKee (Elmer)
Peace at Last, Jill Murphy (Peace at Last) - (£18,172.37)
Babe (Complete set of Illustrations), Maggie Kneen (Babe) - (£9,056.25)
"Yus, yus!" sighed Aunt Pettitoes, Beatrix Potter (Pigling Bland) - (£5,000)
Fierce Bad Rabbit, Beatrix Potter (Fierce Bad Rabbit) - (£11,277)
Captain Pugwash, John Ryan (Captain Pugwash) - (£1,415)
The Morning Walk, EH Shepard (Now We Are Six) - (£12,350)
When Anne & I go out for a walk, EH Shepard (Now We Are Six) - (£8,798.78)
Anne's balloon, EH Shepard (Now We Are Six) - (£10,000)
One of his hobbies, William Steig (Sylvester & The Magic Pebble) - (£13,677.74)
He did a Little Dance, Garth Williams (Stuart Little) - (£17,804.07)

In  addition,  the Company owns a complete boxed set of Lithograph Prints by Maurice Sendak, featuring  the
famed illustrations from the Wild Things. (£1,400)

The  Directors are in the process of agreeing a suitable investment strategy for the Company and will  seek
shareholder approval for this investment strategy at the appropriate time.

The Directors of Storyboard are responsible for the contents of this announcement.

Contact Information:
Storyboard Assets Plc
Marcus Yeoman, Chairman
Tel: 07970 028 442

Corporate Adviser:
St Helens Capital Partners LLP
Duncan Vasey or Mark Anwyl
Tel: 020 7368 6959

Contact Information

  • Storyboard Assets Plc