TORONTO, ONTARIO -- (Marketwire) -- 02/20/13 -- ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX: AAB) today announces that the value of its investment portfolio as at January 31, 2013, the end of its 2013 fourth fiscal quarter, was approximately $70.9 million including a cash balance of $10.4 million. This equates to a value of $0.83 per basic share outstanding. 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 third quarter results for the period ended October 31, 2012, by approximately $4.4 million or 5.8 percent. Despite a small rally in January, the TSX Venture exchange was down 7.0% over the same period. Annual financial results are expected to be released on or before May 1, 2013, which include the Company's other assets and liabilities.
January 31, 2013 October 31, 2012 January 31, 2012Sharesoutstanding 85,994,602 86,272,302 86,100,139 $ $/Shares $ $/Shares $ $/Shares -----------------------------------------------------------------Cash on hand 10,417,577(i) 0.12 1,118,673 0.01 7,372,118 0.09Investments Publicly traded 29,564,393 0.344 31,082,472 0.360 51,916,759 0.603 Private 21,319,834 0.248 13,831,781 0.160 16,325,377 0.190 Non- trading warrants Intrinsic value 1,032,114 0.012 100,650 0.001 1,915,000 0.022 Option value 1,415,665 0.016 841,105 0.010 2,170,214 0.025 ----------------------------------------------------------------- 2,447,779 0.028 941,755 0.011 4,085,214 0.047 -----------------------------------------------------------------PortfolioInvestments 53,332,006 0.620 45,856,008 0.532 72,327,350 0.840Loans / preferred shares 7,167,196 0.083 28,310,109 0.328 3,459,778 0.040 -----------------------------------------------------------------Total 70,916,779 0.825 75,284,790 0.873 83,159,246 0.966 ----------------------------------------------------------------- -----------------------------------------------------------------(i) Includes cash from trades made at the end of January 2013 but settled inFebruary 2013.
David Stein, Aberdeen's CEO stated: "While we were encouraged by stock price action in the early part of January, the enthusiasm has faded quickly in the past few weeks. Gold stocks that were leading the mining market in 2012 have seen their share prices cut drastically as the sector has lost support. Despite our bullishness over the longer-term, we expect the weak commodities and junior equities markets to continue in the short to medium term. Strategically we have moved to increase liquidity in our portfolio to manage risk and potentially take advantage of deeply discounted valuations."
