Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2013 and Three Months Ended March 31, 2014
April 21 2014 - 2:47PM
Marketwired
Sonor Investments Limited Reports Financial Results for the Year
Ended December 31, 2013 and Three Months Ended March 31, 2014
TORONTO, ONTARIO--(Marketwired - Apr 21, 2014) - Sonor
Investments Limited (TSX-VENTURE:SNI.PR.A) today reported its
financial results for the year ended December 31, 2013 and the
three months ended March 31, 2014.
|
Year ended December 31 |
3 months ended March 31 |
|
|
|
|
|
|
|
|
|
2013 |
2012 |
2014 |
|
2013 |
|
|
$000 |
$000 |
$000 |
|
$000 |
|
|
|
|
|
|
|
|
| Revenue |
3,972 |
4,777 |
152 |
|
129 |
|
|
|
|
|
|
|
|
| Net Income
(loss) |
3,355 |
4,278 |
(8 |
) |
(14 |
) |
|
|
|
|
|
|
|
Tom Vandepeer, President, stated that as at March 31, 2014 the
Company's assets totaled $57.3 million, up slightly from total
assets of $57.1 million as at December 31, 2013. These assets as at
March 31, 2014 included $12.9 million of marketable securities,
$35.6 million in a private investment and $8.7 million of cash and
cash equivalents.
During the year ended December 31, 2013, the Company realized
$21,000 in net capital gains on the sale of investments and
recorded an impairment of $119,000 on one of its security
investments. This compares to net capital gains of $825,000 on the
sale of investments during the year ended December 31, 2012. During
the three months ended March 31, 2014, the company realized $12,000
in net capital gains on the sale of investments compared to no
capital gains or losses during the corresponding period of the
previous year.
During the periods under review, the Company has maintained net
assets and qualified investments in excess of the amounts
prescribed under the share conditions pertaining to the First
Preference Shares in its capital stock.
As well, the Company announces that a semi-annual dividend of
$0.225 per share on the Company's 9% first Preference Shares has
been declared payable on September 15, 2014 at a meeting of its
Board of Directors. The dividend will be paid to shareholders of
record at the close of business on September 1, 2014.
Sonor Investments Limited is an investment company located in
Toronto, Canada. The First Preference Shares of Sonor trade on The
TSX Venture Exchange under the symbol SNI.PR.A.
Neither the TSX Venture Exchange nor its Regulation Service
Provider (as that term is defined in the policies of the TSX
Venture Exchange) accepts responsibility for the adequacy or
accuracy of this release.
Sonor Investments LimitedMr. Tom VandepeerPresident(416)
369-1499Sonor Investments LimitedMr. Stephen MillsTreasurer &
CFO(416) 369-1499
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