Business
Financial Statements for the year ended 31 Dec 12
Financial Statements for the year ended 31 Dec 12.
About this update from Tooru Plc
[{"type":"text","content":"\n \nRNS Number : 6270C Paternoster Resources PLC 18 April 2013 \n \n\n \nPaternoster Resources plc\n(\"Paternoster\" or the \"Company\")\n \nFinancial Statements for the year ended 31 December 2012\n \n \nPaternoster is pleased to announce its results for the year ended 31 December 2012. \n \nHighlights:\n- Net Asset Value increased to £2.7 million (2011: £2.2 million)\n- Cash balance of £1.5 million (2011: £0.4 million)\n \nIn addition, the Company is pleased to announce that its Annual General Meeting will be held at Adams & Remers LLP, 32 Duke Street, St James's, London SW1Y 6DF on Thursday 16 May 2013 at 11.00 am.\n \nCopies of the annual report and accounts, along with the Notice of Annual General Meeting, will be posted to shareholders shortly and will be made available on the Company's website: www.paternosterresources.com \n \n \nFor more information please contact:\n \n\n\n\n\nPaternoster Resources plc:\n\n\n\n\n\n\n\nNicholas Lee, Chairman\n\n\n+44 20 7580 7576\n\n\n\n\n \n\n\n\n\nNominated Advisor and Joint Broker:\n\n\n\n\n\n\n\nWesthouse Securities\n\n\n\n\n\n\n\nAntonio Bossi / Paul Gillam\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 Capital Limited\n\n\n\n\n\n\n\nJon Levinson \n\n\n+44 20 7562 3351\n\n\n\n\n \n \nCHAIRMANS REVIEW\n \nINTRODUCTION\nThe year ended 31 December 2012 has been a transformational year for the Company. During this period it has been able to realise substantial cash returns from its investments in the natural resources sector and implement its investment policy. Furthermore, significant progress continues to be made in the pursuit of this strategy.\n \nFINANCIAL\nFor this year, the Company has decided to adopt a revised accounting policy for investment companies as recommended by the International Accounting Standards Board in October 2012. Effectively this means that both realised and unrealised gains and losses for a particular year are recognised in the Company's profit and loss account. Previously only realised profits or losses would have flowed through the profit and loss account with unrealised profits ...