ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company")
(TSX:AAB) is pleased to announce that it has released its financial
results for the year ended January 31, 2013. For more information
please see the Company's Annual Financial Statements and
Management's Discussion and Analysis ("MD&A") posted on SEDAR
at www.sedar.com.
As at January 31, 2013, Aberdeen's shareholders' equity, or net
asset value (the "NAV"), was $65.5 million, or $0.76 per share.
Aberdeen's shareholders' equity decreased by $8.4 million from
$73.9 million at the end of Q3 2013. The decrease in shareholders'
equity was largely due to the performance of Aberdeen's equity
investment portfolio in the fourth quarter, which decreased $5.4
million or 7.1% to $69.9 million. In the fourth quarter of 2013,
the stock market performance for small capitalization mining and
resource stocks continued to be weak. On a year-over-year basis,
Aberdeen's shareholders' equity decreased by $30.6 million. Note
that the reference to shareholders' equity is similar to the
Company's previous references to net asset value (or "NAV").
January 31, 2013 January 31, 2012 October 31, 2012
Shares
outstanding 85,994,602 86,100,139 86,272,302
$ $/Shares $ $/Shares $ $/Shares
--------------------------------------------------------------
Cash on
hand(1) 10,417,577 0.12 7,372,118 0.09 1,118,673 0.01
Investments
Publicly
traded 29,844,393 0.347 51,916,759 0.603 31,082,470 0.360
Private 21,039,834 0.245 16,325,377 0.190 13,831,781 0.160
Non-trading
warrants
Intrinsic
value 1,032,114 0.012 1,915,000 0.022 100,650 0.001
Option
value 1,415,665 0.016 2,170,214 0.025 841,105 0.010
--------------------------------------------------------------
2,447,779 0.028 4,085,214 0.047 941,755 0.011
--------------------------------------------------------------
Portfolio
Investments 53,332,006 0.620 72,327,350 0.840 45,856,006 0.532
Loans /
Preferred
Shares 6,116,040 0.071 3,459,778 0.040 28,310,109 0.328
--------------------------------------------------------------
Total 69,865,623 0.812 83,159,246 0.966 75,284,788 0.873
--------------------------------------------------------------
--------------------------------------------------------------
Note (1) Includes cash from trades made at the end of January 2013, but
setted in February 2013.
Aberdeen reported net earnings of $(30.6) million or $(0.35) per
basic share for the twelve months ended January 31, 2013 on total
revenue of $(20.5) million. Revenue was comprised of $22.4 million
from net investment losses, $0.6 million from royalties, $1.1
million interest and dividend income and $0.2M from advisory
services fees. For the twelve months ended January 31, 2012,
Aberdeen reported net earnings of $(37.8) million or $(0.44) per
basic share on total revenue of $(36.9) million ($(40.2) million
from net investment losses, $2.4 million from royalties, and $0.9
million from interest income and advisory service fees).
Normal Course Issuer Bid ("NCIB")
During the twelve months ending January 31, 2013, 1,005,500
common shares of the Company were purchased for cancellation at an
average cost of $0.41 per share.
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 future intentions of the
Company with regard to its shareholdings; the Company's plan of
business operations; anticipated returns; and market dynamics and
fundamentals. 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.
Please also note that the numbers provided in this press release
have been rounded and are therefore approximates.
Contacts: Aberdeen International Inc. Mike McAllister Manager,
Investor Relations +1 416-309-2134info@aberdeeninternational.ca
Aberdeen International Inc. Ryan Ptolemy Chief Financial Officer
416-861-5882info@aberdeeninternational.ca
www.aberdeeninternational.ca
Aberdeen (TSX:AAB)
Historical Stock Chart
From Apr 2024 to May 2024
Aberdeen (TSX:AAB)
Historical Stock Chart
From May 2023 to May 2024