Business
Final results for the year ended 31 December 2015
Final results for the year ended 31 December 2015.
About this update from Tooru Plc
[{"type":"text","content":"\n \nRNS Number : 2892B Paternoster Resources PLC 15 June 2016 \n\n15 June 2016\n \nPaternoster Resources plc\n \n(\"Paternoster\" or the \"Company\")\n \nFinal results for the year ended 31 December 2015\n \nPaternoster Resources plc (AIM: PRS), an investment company focused on the natural resources sector, is pleased to announce its audited final results for the year ended 31 December 2015.\n \nNicholas Lee, Chairman of Paternoster, commented: \"The Company has made good progress this year in building its net asset value. We are now well positioned to continue this growth and have made a very strong start to 2016\"\n \nFor more information please visit www.paternosterresources.com or contact:\n\n\n\n\nPaternoster Resources plc:\n\n\n \n\n\n\n\nNicholas Lee, Chairman\n \n\n\n+44 20 7580 7576\n \n\n\n\n\n \n\n\n\n\nNominated Advisor and Joint Broker:\n\n\n \n\n\n\n\nStockdale Securities\n\n\n \n\n\n\n\nAntonio Bossi/David Coaten\n\n\n+44 20 7601 6100\n\n\n\n\n \n\n\n\n\nJoint Broker:\n\n\n \n\n\n\n\nPeterhouse Corporate Finance\n\n\n \n\n\n\n\nLucy Williams\n\n\n+44 20 7562 3351\n\n\n\n\n \nINTRODUCTION\nDuring the year ended 31 December 2015, the Company has continued to build its investment portfolio and this growth has continued strongly into 2016.\n \nFINANCIAL\nDuring 2015, the Company made a loss from continuing operations of £308,873 (2014: loss of £120,372). The net asset value of the Company as at 31 December 2015 was £2,948,406 (2014: £2,758,784). \nThe Company's investment portfolio at 31 December 2015, is divided into the following categories:\n\n\n\n\nCategory\n\n\nPrincipal investments\n\n\nCost or valuation (£)\n\n\n\n\nUnlisted/pre IPO\n\n\nBison Energy Services Limited, Andiamo Exploration Limited, Elephant Oil Limited, MX Oil plc and Alecto Minerals plc\n\n\n947,221\n\n\n\n\nListed special situations\n\n\nMetal Tiger plc, MX Oil plc, Plutus Powergen plc, Shumba Energy Limited and New World Oil and Gas plc\n\n\n1,455,438\n\n\n\n\nInvestment portfolio\n\n\n \n\n\n2,402,659\n\n\n\n\nCash resources\n\n\n \n\n\n464,570\n\n\n\n\nTotal\n\n\n \n\n\n2,867,229\n\n\n\n\n \nAt 31 December 2015, the Company had cash balances amounting to £464,570 (2014: £359,094). \n \nREVIEW OF THE YEAR\nDet...