Aberdeen International Reports Value of Investment Portfolio and Cash of $0.59 Per Share for Second Quarter Ending July 31, 2...
August 19 2013 - 7:30AM
Marketwired
ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company")
(TSX:AAB) announces that the value of its investment portfolio as
at July 31, 2013, the end of its 2014 second fiscal quarter, was
approximately $50.7 million including a cash balance of $1.9
million. This equates to a value of $0.59 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 April 30, 2013 by approximately $4.6 million or 8.3 percent.
Second quarter financial results are expected to be released on or
before September 14, 2013, which include the Company's other assets
and liabilities.
July 31, 2013 January 31, 2013 July 31, 2012
Shares
outstanding 85,551,422 85,994,602 86,480,139
$/ $/ $/
$ Shares $ Shares $ Shares
-------------------------------------------------------------
Cash on hand 1,929,013 0.02 10,417,577(i) 0.12 4,073,749 0.05
Investments
Publicly
traded 19,985,561 0.234 29,844,393 0.347 34,037,369 0.394
Private 20,409,748 0.239 21,039,834 0.245 14,416,279 0.167
Non-trading
warrants
Intrinsic
value - - 1,032,114 0.012 - -
Option
value 489,716 0.006 1,415,665 0.016 758,996 0.009
-------------------------------------------------------------
489,716 0.006 2,447,779 0.028 758,996 0.009
-------------------------------------------------------------
Portfolio
Investments 40,885,025 0.478 53,332,006 0.620 49,212,644 0.569
Loans /
preferred
shares 7,913,532 0.093 6,116,040 0.071 18,319,003 0.212
-------------------------------------------------------------
Total 50,727,570 0.593 69,865,623 0.812 71,605,396 0.828
-------------------------------------------------------------
-------------------------------------------------------------
(i) Includes cash from trades made at the end of January 2013 but settled in
February 2013.
In addition, the Company announces that it has engaged a
strategic advisor to provide the Company with advice regarding
potential strategic financing alternatives.
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 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.
Contacts: Aberdeen International Inc. Mike McAllister Manager,
Investor Relations +1 416-309-2134info@aberdeeninternational.ca
Aberdeen International Inc. David Stein President and Chief
Executive Officer +1 416-861-5812dstein@aberdeeninternational.ca
www.aberdeeninternational.ca
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