Aberdeen Reports Shareholders' Equity of $0.53 Per Share and 2015 First Quarter Financial Results
17 Juni 2014 - 1:00PM
Marketwired
Aberdeen Reports Shareholders' Equity of $0.53 Per Share and 2015
First Quarter Financial Results
TORONTO, ONTARIO--(Marketwired - Jun 17, 2014) - 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
$8.7 million. Note that the reference to shareholders' equity is
similar to previous references to Net Asset Value or "NAV" by
Aberdeen.
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April 30, 2014 |
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January 31, 2014 |
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April 30, 2013 |
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Shares outstanding |
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87,349,422 |
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87,349,422 |
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85,994,602 |
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$ |
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$/Shares |
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$ |
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$/Shares |
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$ |
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$/Shares |
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Cash on hand |
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306,273 |
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0.00 |
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868,267 |
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0.01 |
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3,698,856 |
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0.04 |
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Investments |
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Publicly traded |
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16,192,265 |
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0.185 |
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17,216,988 |
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0.197 |
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21,669,343 |
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0.252 |
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Private |
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20,718,828 |
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0.237 |
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20,075,953 |
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0.230 |
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21,363,120 |
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0.248 |
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Non-trading warrants |
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Intrinsic value |
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32,500 |
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0.000 |
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25,000 |
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0.000 |
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- |
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- |
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Option value |
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275,236 |
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0.003 |
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545,909 |
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0.006 |
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929,324 |
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0.011 |
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307,736 |
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0.004 |
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570,909 |
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0.007 |
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929,324 |
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0.011 |
Portfolio Investments |
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37,218,829 |
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0.426 |
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37,863,850 |
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0.433 |
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43,961,787 |
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0.511 |
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Loans / preferred shares |
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6,713,452 |
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0.077 |
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6,902,617 |
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0.079 |
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7,682,603 |
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0.089 |
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Total |
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44,238,554 |
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0.506 |
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45,634,734 |
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0.522 |
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55,343,246 |
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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.
Aberdeen International Inc.Mike McAllisterManager, Investor
Relations+1 416-309-2134info@aberdeeninternational.caAberdeen
International Inc.David SteinPresident and Chief Executive
Officer+1
416-861-5812dstein@aberdeeninternational.cawww.aberdeeninternational.ca
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