Aberdeen Reports Shareholders' Equity of $0.54 Per Share and 2014 Year End Financial Results
02 Mai 2014 - 1:00PM
Marketwired
Aberdeen Reports Shareholders' Equity of $0.54 Per Share and 2014
Year End Financial Results
TORONTO, ONTARIO--(Marketwired - May 2, 2014) - ABERDEEN
INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX: AAB) is
pleased to announce that it has released its financial results for
the fourth quarter of 2014, ended January 31, 2014. For more
information please see the Company's Audited Condensed Annual
Financial Statements and Management's Discussion and Analysis
("MD&A") posted on SEDAR at www.sedar.com.
As at January 31,
2014, Aberdeen's Shareholders' Equity (or Net Asset Value, "NAV")
was $47.5 million, or $0.54 per share. Aberdeen's shareholders'
equity decreased by $2.0 million from $49.5 million at the end of
Q3 2014. The decrease in shareholders' equity was largely due to
the performance of Aberdeen's equity investment portfolio in the
fourth quarter, which had a total investment loss of $2.0 million
for the quarter. On a year-over-year basis, Aberdeen's
shareholders' equity decreased by $17.9 million. Note that the
reference to shareholders' equity is similar to previous references
to Net Asset Value or "NAV" by Aberdeen.
|
January 31, 2014 |
January 31, 2013 |
October 31, 2013 |
Shares outstanding |
87,349,422 |
85,994,602 |
85,449,422 |
|
$ |
$/ Shares |
$ |
$/ Shares |
$ |
$/ Shares |
|
|
|
|
|
|
|
Cash on hand |
868,267 |
0.01 |
10,417,577* |
0.12 |
1,176,224 |
0.01 |
|
|
|
|
|
|
|
Investments |
|
|
|
|
|
|
|
Publicly traded |
17,216,988 |
0.197 |
29,844,393 |
0.347 |
17,661,275 |
0.207 |
|
Private |
20,075,953 |
0.230 |
21,039,834 |
0.245 |
20,067,856 |
0.235 |
|
Non-trading warrants |
|
|
|
|
|
|
|
|
Intrinsic value |
25,000 |
0.000 |
1,032,114 |
0.012 |
- |
- |
|
|
Option value |
545,909 |
0.006 |
1,415,665 |
0.016 |
323,105 |
0.004 |
|
570,909 |
0.007 |
2,447,779 |
0.028 |
323,105 |
0.004 |
Portfolio Investments |
37,863,850 |
0.433 |
53,332,006 |
0.620 |
38,052,236 |
0.445 |
|
|
|
|
|
|
|
Loans / preferred shares |
6,902,617 |
0.079 |
6,116,040 |
0.071 |
8,421,625 |
0.099 |
Total |
45,634,734 |
0.522 |
69,865,623 |
0.812 |
47,650,085 |
0.558 |
* Includes cash from trades made at the end of January
2013 but settled in February 2013. |
For the twelve
months ended January 31, 2014, Aberdeen reported net earnings of
$(16.3) million or $(0.19) per basic share on total revenue of
$(13.5) million. Revenue was comprised of $(14.3) million from net
investment losses and $0.8 million from interest income, dividends
and advisory services fees. For the twelve months ending January
31, 2013, Aberdeen reported net earnings of $(30.6) million or
$(0.35) per share on total revenue of $(20.5) million ($(22.4)
million from net investment losses, $0.6 million from royalties and
$1.9 million from interest and dividend income and advisory service
fees).
Normal Course Issuer
Bid ("NCIB")
During the twelve
months ending January 31, 2014, 725,180 common shares were
purchased for cancellation under the Company's NCIB at an average
cost of $0.17. Aberdeen expects to continue to purchase shares over
the remainder of its NCIB, depending on market conditions and other
investment opportunities that may be available.
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.
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; 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.
Aberdeen International Inc.Mike McAllisterManager, Investor
Relations+1 416-309-2134info@aberdeeninternational.caAberdeen
International Inc.David SteinPresident and CEO+1
416-861-5812dstein@aberdeeninternational.cawww.aberdeeninternational.ca
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