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Aberdeen Reports Shareholders' Equity of $0.40 per Share and 2017 First Quarter Financial Results
TORONTO, ONTARIO--(Marketwired - June 14, 2016) - ABERDEEN INTERNATIONAL INC. ("Aberdeen", or the "Company") (TSX:AAB) is pleased to announce that it has releas
About this update from Aberdeen International Inc.
[{"type":"text","content":"TORONTO, ONTARIO--(Marketwired - June 14, 2016) - ABERDEEN INTERNATIONAL INC. (\"Aberdeen\", or the \"Company\") (TSX:AAB) is pleased to announce that it has released its financial results for the first quarter of 2017, ended April 30, 2016. Highlights: Closed the sale of 50-per-cent of Potasio y Litio de Argentina SA (\"PLASA\") common shares to Lithium X Energy Corp (\"LIX\") for 8,000,000 common shares of LIX; Net income for the three months ended April 30, 2016 was $12.7 million or $0.13 per basic share; Subsequent to April 30, 2016 repurchased an additional 6.6 million shares under the 2017 NCIB. As at April 30, 2016, Aberdeen's Shareholders' Equity (or Net Asset Value, \"NAV\") was $38.6 million, or $0.40 per share. Aberdeen's shareholders' equity increased by $12.7 million from $25.9 million at the end of Q4 2016. The increase in shareholders' equity was primarily due to the sale of 50 per-cent of PLASA common shares to LIX in exchange for 8,000,000 LIX common shares and the performance of Aberdeen's equity investment portfolio in the first quarter, which had a total investment gain of $13.5 million for the quarter offset by operating, general and administration expenses of $0.8M. On a year-over-year basis, Aberdeen's shareholders' equity increased by $2.3 million. Note that the reference to shareholders' equity is similar to previous references to Net Asset Value or \"NAV\" by Aberdeen. April 30, 2016 January 31, 2016 April 30, 2015 Shares outstanding 95,529,128 95,546,628 96,658,252 $ $/Shares $ $/Shares $ $/Shares Cash on hand 5,159,689 0.054 604,613 0.006 409,084 0.004 Investments Publicly traded 18,155,669 0.190 2,754,448 0.029 19,470,971 0.201 Private 17,625,252 0.185 19,322,417 0.202 17,541,282 0.181 Non-trading warrants Intrinsic value - - - 0.000 30,000 0.000 Option value 420,570 0.004 423,920 0.004 426,280 0.005 420,570 0.004 423,920 0.004 456,280 0.005 Portfolio In...