News Column

Aberdeen Reports Shareholders' Equity of $0.54 per Share and 2014 Year End Financial Results

May 6, 2014



ENP Newswire - 06 May 2014

Release date- 02052014 - TORONTO, ONTARIO - Aberdeen International Inc. (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.

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.

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.

Contact:

Aberdeen International Inc.

Mike McAllister

Manager

Investor Relations

Tel: +1 416-309-2134

Email: info@aberdeeninternational.ca

David Stein

President and CEO

Tel: +1 416-861-5812

Email: dstein@aberdeeninternational.ca

www.aberdeeninternational.ca


For more stories on investments and markets, please see HispanicBusiness' Finance Channel



Source: ENP Newswire


Story Tools






HispanicBusiness.com Facebook Linkedin Twitter RSS Feed Email Alerts & Newsletters