Aberdeen International Reports Value of Investment Portfolio and Cash of $0.56 Per Share for Third Quarter Ending October 31,...
07 November 2013 - 10:01PM
Marketwired Canada
ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) today
announces that the value of its investment portfolio as at October 31, 2013, the
end of its 2014 third fiscal quarter, was approximately $47.8 million including
a cash balance of $1.2 million. This equates to a value of $0.56 per basic share
outstanding based on Aberdeen's investment portfolio alone. This report of the
portfolio value is not equivalent to the net asset value that has been
previously reported by Aberdeen as it does not include assets and liabilities of
the Company that are not treated as investments. Rather, this report refers only
to the cash, equity investments (private and public), option-type investments
(for example, warrants) and corporate debt/loans receivable of the Company.
The value of the investment portfolio decreased from the value as at July 31,
2013 by approximately $2.9 million or 5.7 percent. Third quarter financial
results are expected to be released on or before December 15, 2013, which
include the Company's other assets and liabilities.
October 31, 2013 January 31, 2013 October 31, 2012
Shares
outstanding 85,449,422 85,994,602 86,272,302
$ $/Shares $ $/Shares $ $/Shares
--------------------------------------------------------------
Cash on hand 1,176,224 0.01 10,417,577(i) 0.12 1,118,673 0.01
Investments
Publicly
traded 17,618,947 0.206 29,844,393 0.347 31,082,470 0.360
Private 20,067,856 0.235 21,039,834 0.245 13,831,781 0.160
Non-trading
warrants
Intrinsic
value - - 1,032,114 0.012 100,650 0.001
Option value 323,105 0.004 1,415,665 0.016 841,107 0.010
--------------------------------------------------------------
323,105 0.004 2,447,779 0.028 941,757 0.011
--------------------------------------------------------------
Portfolio
Investments 38,009,908 0.445 53,332,006 0.620 45,856,008 0.532
Loans /
preferred
shares 8,570,715 0.100 6,116,040 0.071 28,310,109 0.328
--------------------------------------------------------------
Total 47,756,847 0.559 69,865,623 0.812 75,284,790 0.873
--------------------------------------------------------------
--------------------------------------------------------------
(i) Includes cash from trades made at the end of January 2013 but settled in
February 2013.
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 an 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 Company's plan of business operations; and anticipated returns. 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.
FOR FURTHER INFORMATION PLEASE CONTACT:
Aberdeen International Inc.
Mike McAllister
Manager, Investor Relations
+1 416-309-2134
info@aberdeeninternational.ca
Aberdeen International Inc.
David Stein
President and Chief Executive Officer
+1 416-861-5812
dstein@aberdeeninternational.ca
www.aberdeeninternational.ca
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