Sonor Investments Limited

April 25, 2012 16:18 ET

Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2011 and Three Months Ended March 31, 2012

TORONTO, ONTARIO--(Marketwire - April 25, 2012) - Sonor Investments Limited (TSX VENTURE:SNI.PR.A) today reported its financial results for the year ended December 31, 2011 and the three months ended March 31, 2012.

Year ended December 31 3 months ended March 31
2011 2010 2012 2011
$000 $000 $000 $000
Revenue 5,018 5,034 826 178
Net Income (loss) 4,526 4,578 679 44

Michael Gardiner, President and Chief Executive Officer, stated that as at March 31, 2012 the Company's assets totaled $55.9 million, up slightly from total assets of $55.7 million as at December 31, 2011. These assets as at March 31, 2012 included $12.6 million of marketable securities, $35.6 million in a private investment and $7.7 million of cash and cash equivalents.

During the year ended December 31, 2011, the Company realized $1,049,000 in net capital gains on the sale of investments. This compares to net capital gains of $1,142,000 on the sale of investments during the year ended December 31, 2010. During the three months ended March 31, 2011, the company realized net capital gains of $715,000 on the sale of investments compared to net capital gains of $62,000 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 Corporation's 9% first Preference Shares has been declared payable on September 15, 2012 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, 2012.

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.

Contact Information

  • Sonor Investments Limited
    Mr. Michael Gardiner
    President and CEO
    (416) 369-1499

    Sonor Investments Limited
    Mr. Stephen Mills
    Treasurer & CFO
    (416) 369-1499