Aberdeen Reports Shareholders' Equity of $0.76 per Share and Year Ended 2013 Financial Results
01 Mai 2013 - 1:00PM
Marketwired Canada
ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) is pleased
to announce that it has released its financial results for the year ended
January 31, 2013. For more information please see the Company's Annual Financial
Statements and Management's Discussion and Analysis ("MD&A") posted on SEDAR at
www.sedar.com.
As at January 31, 2013, Aberdeen's shareholders' equity, or net asset value (the
"NAV"), was $65.5 million, or $0.76 per share. Aberdeen's shareholders' equity
decreased by $8.4 million from $73.9 million at the end of Q3 2013. The decrease
in shareholders' equity was largely due to the performance of Aberdeen's equity
investment portfolio in the fourth quarter, which decreased $5.4 million or 7.1%
to $69.9 million. In the fourth quarter of 2013, the stock market performance
for small capitalization mining and resource stocks continued to be weak. On a
year-over-year basis, Aberdeen's shareholders' equity decreased by $30.6
million. Note that the reference to shareholders' equity is similar to the
Company's previous references to net asset value (or "NAV").
January 31, 2013 January 31, 2012 October 31, 2012
Shares
outstanding 85,994,602 86,100,139 86,272,302
$ $/Shares $ $/Shares $ $/Shares
--------------------------------------------------------------
Cash on
hand(1) 10,417,577 0.12 7,372,118 0.09 1,118,673 0.01
Investments
Publicly
traded 29,844,393 0.347 51,916,759 0.603 31,082,470 0.360
Private 21,039,834 0.245 16,325,377 0.190 13,831,781 0.160
Non-trading
warrants
Intrinsic
value 1,032,114 0.012 1,915,000 0.022 100,650 0.001
Option
value 1,415,665 0.016 2,170,214 0.025 841,105 0.010
--------------------------------------------------------------
2,447,779 0.028 4,085,214 0.047 941,755 0.011
--------------------------------------------------------------
Portfolio
Investments 53,332,006 0.620 72,327,350 0.840 45,856,006 0.532
Loans /
Preferred
Shares 6,116,040 0.071 3,459,778 0.040 28,310,109 0.328
--------------------------------------------------------------
Total 69,865,623 0.812 83,159,246 0.966 75,284,788 0.873
--------------------------------------------------------------
--------------------------------------------------------------
Note (1) Includes cash from trades made at the end of January 2013, but
setted in February 2013.
Aberdeen reported net earnings of $(30.6) million or $(0.35) per basic share for
the twelve months ended January 31, 2013 on total revenue of $(20.5) million.
Revenue was comprised of $22.4 million from net investment losses, $0.6 million
from royalties, $1.1 million interest and dividend income and $0.2M from
advisory services fees. For the twelve months ended January 31, 2012, Aberdeen
reported net earnings of $(37.8) million or $(0.44) per basic share on total
revenue of $(36.9) million ($(40.2) million from net investment losses, $2.4
million from royalties, and $0.9 million from interest income and advisory
service fees).
Normal Course Issuer Bid ("NCIB")
During the twelve months ending January 31, 2013, 1,005,500 common shares of the
Company were purchased for cancellation at an average cost of $0.41 per share.
About Aberdeen International Inc:
Aberdeen is a publicly traded global investment and merchant banking company
focused on small cap companies in the resource sector. Aberdeen will seek to
acquire significant equity participation in pre-IPO and/or early stage public
resource companies with undeveloped or undervalued high-quality resources.
Aberdeen will focus on companies that: (i) are in need of managerial, technical
and financial resources to realize their full potential; (ii) are undervalued in
foreign capital markets; and/or (iii) operate in jurisdictions with moderate
local political risk. Aberdeen will seek to provide value-added managerial and
board advisory services to companies. The Corporation's intention will be to
optimize the return on its investment over a 24 to 36 month investment time
frame.
For additional information, please visit our website at
www.aberdeeninternational.ca and follow us on Facebook and Twitter: AberdeenAAB.
Cautionary Note
Except for statements of historical fact contained herein, the information in
this press release constitutes "forward-looking information" within the meaning
of Canadian securities law. Such forward-looking information may be identified
by words such as "plans", "proposes", "estimates", "intends", "expects",
"believes", "may", "will" and include without limitation, statements regarding
past success as an indicator of future success; net asset value of the Company;
the potential of investee companies and the appreciation of their share price;
the future intentions of the Company with regard to its shareholdings; the
Company's plan of business operations; anticipated returns; and market dynamics
and fundamentals. There can be no assurance that such statements will prove to
be accurate; actual results and future events could differ materially from such
statements. Factors that could cause actual results to differ materially
include, among others, metal prices, competition, financing risks, acquisition
risks, risks inherent in the mining industry, and regulatory risks. Most of
these factors are outside the control of the Company. Investors are cautioned
not to put undue reliance on forward-looking information. Except as otherwise
required by applicable securities statutes or regulation, the Company expressly
disclaims any intent or obligation to update publicly forward-looking
information, whether as a result of new information, future events or otherwise.
Please also note that the numbers provided in this press release have been
rounded and are therefore approximates.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aberdeen International Inc.
Mike McAllister
Manager, Investor Relations
+1 416-309-2134
info@aberdeeninternational.ca
Aberdeen International Inc.
Ryan Ptolemy
Chief Financial Officer
416-861-5882
info@aberdeeninternational.ca
www.aberdeeninternational.ca
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