Business
Pinetree Capital Ltd Announces Audited Financial Results For The Year Ended December 31, 2020
TORONTO, ON / ACCESSWIRE / February 26, 2021 / Pinetree Capital Ltd. (TSX:PNP) ("Pinetree" o...
About this update from Pinetree Capital Ltd.
[{"type":"text","content":"Pinetree Capital Ltd Announces Audited Financial Results For The Year Ended December 31, 2020TORONTO, ON / ACCESSWIRE / February 26, 2021 / Pinetree Capital Ltd. (TSX:PNP) (\"Pinetree\" or the \"Company\") today announced its financial results for the year ended December 31, 2020. All financial information provided in this press release is unaudited and all figures are in $'000 except per share amounts and shares outstanding.Financial Results for the three months and year ended December 31, 2020The following information should be read in conjunction with our annual audited Consolidated Financial Statements, prepared in accordance with International Financial Reporting Standards (\"IFRS\") and our annual Management Discussion and Analysis for the year ended December 31, 2020, which can be found on SEDAR at www.sedar.com.Selected Financial Information As at December 31, 2020 As at December 31, 2019 Total assets $ 19,484 $ 18,227 Total liabilities 383 329 Book Value 19,101 17,898 Shares outstanding 9,045,198 9,045,198 Book Value per share (BVPS) $ 2.11 $ 1.98 Shares OutstandingBook Value (BV)1OpEx1(excluding F/X gain/loss)2Book Value per share - (BVPS)1Quarterly OpEx as percentage BV1 $'000s$'000s$%Dec-31-209,045,19819,1011092.110.6Sep-30-209,045,19816,4931061.820.6Jun-30-209,045,19815,3991211.700.8Mar-31-209,045,19815,5401171.720.8Dec-31-199,045,19817,8981551.980.9Sep-30-199,045,19817,295801.910.5Jun-30-199,045,19817,3501181.920.7Mar-31-199,045,19817,1061191.890.71 Refer to \"Use of Non-IFRS Financial Measures\"Shares Outstanding and Book Value amounts are as at the Quarter End dateOperating Expenses amounts are for the Three months ending the Quarter End date2 Operating Expenses do not include Foreign Exchange gain (loss) on financial assets other than investmentsAs at December 31, 2020, Pinetree's BVPS was $2.11 as compared to $1.98 as at December 31, 2019, representing an increase of $0.13 or 6.6%. The increase was primarily attributable to net investment gains, net dispositions in the investment portfolio, and other income from dividends and interest which out-paced the Company's expenses during the period.As at December 31, 2020, the Company held investments at fair value totaling $16,493, which represented 86% of book value. This compares to investments at fair value of $10,105 representing 56% of book value as at December 3...