Aberdeen Reports Shareholders' Equity of $0.53 Per Share and 2015 First Quarter Financial Results
17 Juni 2014 - 1:00PM
Marketwired Canada
ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) has
released its financial results for the first quarter of 2015, ended April 30,
2014. For more information please see the Company's Condensed Interim Financial
Statements and Management's Discussion and Analysis ("MD&A") posted on SEDAR at
www.sedar.com.
As at April 30, 2014, Aberdeen's Shareholders' Equity (or Net Asset Value,
"NAV") was $46.5 million, or $0.53 per share. Aberdeen's shareholders' equity
decreased by $1.0 million from $47.5 million at the end of Q4 2014. The decrease
in shareholders' equity was largely due to the performance of Aberdeen's equity
investment portfolio, which had a total investment loss of $0.4 million for the
quarter and general and administrative expenses offset by an income tax recovery
of $0.6 million. On a year-over-year basis, Aberdeen's shareholders' equity
decreased by $8.7 million. Note that the reference to shareholders' equity is
similar to previous references to Net Asset Value or "NAV" by Aberdeen.
April 30, 2014 January 31, 2014 April 30, 2013
Shares
outstanding 87,349,422 87,349,422 85,994,602
$ $/Shares $ $/Shares $ $/Shares
-----------------------------------------------------------
Cash on hand 306,273 0.00 868,267 0.01 3,698,856 0.04
Investments
Publicly traded 16,192,265 0.185 17,216,988 0.197 21,669,343 0.252
Private 20,718,828 0.237 20,075,953 0.230 21,363,120 0.248
Non-trading
warrants
Intrinsic
value 32,500 0.000 25,000 0.000 - -
Option value 275,236 0.003 545,909 0.006 929,324 0.011
-----------------------------------------------------------
307,736 0.004 570,909 0.007 929,324 0.011
-----------------------------------------------------------
Portfolio
Investments 37,218,829 0.426 37,863,850 0.433 43,961,787 0.511
Loans /
preferred
shares 6,713,452 0.077 6,902,617 0.079 7,682,603 0.089
-----------------------------------------------------------
Total 44,238,554 0.506 45,634,734 0.522 55,343,246 0.644
-----------------------------------------------------------
-----------------------------------------------------------
For the three months ended April 30, 2014, Aberdeen reported net earnings of
$(1.1) million or $(0.01) per basic share on total revenue of $(0.3) million.
Revenue was comprised of $(0.4) million from net investment losses and $0.1
million from interest income, dividends and advisory services fees. For the
three months ending April 30, 2013, Aberdeen reported net earnings of $(7.4)
million or $(0.09) per share on total revenue of $(8.9) million ($(9.1) million
from net investment losses and $0.2 million from interest and dividend income
and advisory service fees).
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.
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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