Business
Annual Financial Report - Replacement
Annual Financial Report - Replacement.
About this update from Aurrigo International Plc
[{"type":"text","content":"\n \nRNS Number : 0857J Aurora Russia Limited 24 June 2011 \n \n\n \nThe Board of Aurora Russia Limited would like to clarify the net asset values per share as disclosed in the RNS Number 0370J earlier today. \n \nThe net asset value of 79.9p per share as disclosed in the announcement is extracted from the Consolidated Statement of Financial Position as at 31 March 2011, which consolidates the subsidiaries.\n \nThe Company Statement of Financial Position as at 31 March 2011, which holds the investments in subsidiaries at fair value, is 83.6p per share.\n \nTherefore so that the Net asset value in the Financial Highlights of the announcement is comparable it has been changed so that it reads, “Net asset value per share of the company as at 31 March 2011 of 83.6p per share (Net asset value £94.3m) down from 88.0p per share at 31 March 2010.”\n \n \n \n24 June 2011\n \n \nAurora Russia Limited (\"Aurora Russia\" or the \"Company\")\n \n \nResults for the twelve months ended 31 March 2011 \n \n \nAurora Russia implements change and moves forward\n \n \n· Board has improved independence - two new independent non-executive Directors, Gilbert Chalk and Geoffrey Miller have been appointed. James Cook and John McRoberts have both stepped down\n \n· New management contract signed with the manager - lower fee and new incentives \n \n· The Manager continues to have discussions with a number of parties regarding strategic options for the investments\n \n· Improved transparency - Aurora Russia undertakes to issue quarterly trading updates \n \n \n \n \nFinancial highlights \n \n· Net asset value per share of the company as at 31 March 2011 of 83.6p per share (Net asset value £94.3m) down from 88.0p per share at 31 March 2010.\n· Cash and cash equivalents as at 31 March 2011 were £6.7m \n \nPortfolio highlights \n \nOSG\n· OSG continued its expansion in Russia and internationally and it currently operates 42 warehouse facilities in 7 countries\n· Revenues for the year ended 31 March 2011 were £14.8 million representing an increase of 31% compared to the prior yea...