Aberdeen International Reports Value of Investment Portfolio and Cash of $0.77 Per Share for Third Quarter Ending October 31, 2012

 
Aberdeen International Reports Value of Investment Portfolio and Cash of $0.77 Per Share for Third Quarter Ending October 31, 2012

TORONTO, ONTARIO--(Marketwire - Nov. 19, 2012) - ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) today announces that the value of its investment portfolio as at October 31, 2012, the end of its 2013 third fiscal quarter, was approximately $66.7 million including a cash balance of $1.1 million. This equates to a value of $0.77 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 second quarter results for the period ended July 31, 2012, by approximately $4.9 million or 6.8 percent. Third quarter financial results are expected to be released on or before December 14, 2012, which include the Company's other assets and liabilities.

  October 31, 2012 January 31, 2012 October 31, 2011
       
Shares outstanding 86,272,302 86,100,139 86,872,139
       
  $ $/Shares $ $/Shares $ $/Shares
 
Cash on hand 1,118,673 0.01 7,372,118 0.09 7,384,383 0.09
 
Investments            
  Publicly traded 31,332,470 0.363 51,916,759 0.603 59,280,908 0.682
  Private 13,848,609 0.161 16,325,377 0.190 17,624,515 0.203
  Non-trading warrants            
    Intrinsic value 100,650 0.001 1,915,000 0.022 2,757,980 0.032
    Option value 841,105 0.010 2,170,214 0.025 471,610 0.005
  941,755 0.011 4,085,214 0.047 3,229,590 0.037
Portfolio Investments 46,122,834 0.535 72,327,350 0.840 80,135,013 0.922
 
Loans / preferred shares 19,500,707 0.226 3,459,778 0.040 12,588,729 0.145
Total 66,742,214 0.774 83,159,246 0.966 100,108,125 1.152

David Stein, President and CEO stated "After a healthy rebound in early Q3, the junior market turned sour again, this combined with negative Company-specific news from our Sulliden and Forbes Coal, two of our largest holdings, led to the unrealized loss for the quarter. It is worth noting for the purposes of this portfolio update we have held the value of our Premier Royalty Corp. convertible debenture at face value of $9.4 mm, however based on the recent trading price of its previously announced merger partner, Bridgeport Ventures, the completion of this deal could result in an unrealized gain of approximately $9.7 mm. The security-holder meeting date for this deal is currently scheduled for November 30th and if approved would be expected to close shortly thereafter. If the deal does close at that time, the gain will be reflected in our Q3 financial statements to be released in mid-December."