Business
Quarterly Update
Quarterly Update.
About this update from Tooru Plc
[{"type":"text","content":"\n \nRNS Number : 7235H Paternoster Resources PLC 12 June 2017 \n\n \n \n12 June 2017\n \nPATERNOSTER RESOURCES PLC\n\"Paternoster\" or the \"Company\"\n \n \nQuarterly Update to 31 March 2017\n \nPaternoster Resources plc, the AIM quoted investing company focused on the natural resources sector, is pleased to provide a quarterly update for the three months to 31 March 2017.\n \n \nHighlights\n· Net asset value per share was 1.8 times the share price as at 31 March 2017 \n· Total cash held was equivalent to 32% of market capitalisation at the period end\n· Listed investments and cash represented 1.4 times market capitalisation at the period end\n· Around 83% of the investment portfolio, which is currently worth around £3 million, now comprises cash and listed investments\n· GAEA Resources Limited became a major shareholder\n \nNicholas Lee, Chairman of Paternoster, commented: \n \n\"Since 31 December 2016, the Company's net assets have decreased, principally due to the fall in the Plutus PowerGen plc (\"Plutus\") share price as a result of uncertainty surrounding the statement by OFGEM with respect to TRIAD payments to local embedded power generators. Plutus, however, is confident in its business model going forward and, since the period end, its share price has already recovered significantly, increasing by over 25%. Furthermore, Alecto Minerals plc is expected to come back to the market shortly having made a transformational acquisition. Also, through its investment in Glenwick plc, the Company is expected to receive shares in i3 Energy Limited when it completes its listing on AIM. We are therefore looking forward to an uplift in net assets in the short term. Also, during the first quarter, we welcomed a new major shareholder and expect this relationship to provide significant benefits to the Company going forward.\"\n \nThe key unaudited performance indicators are set out below. \n \n \n\n\n\n\nCOMPANY STATISTICS\n\n\n31 March 2017\n\n\n31 December 2016\n\n\n Change \n\n\n\n\nNet asset value\n\n\n£3,057,678\n\n\n£3,657,304\n\n\n(16.4)%\n\n\n\n\nNet asset value -...