Sonor Investments Limited

April 21, 2014 15:47 ET

Sonor Investments Limited Reports Financial Results for the Year Ended December 31, 2013 and Three Months Ended March 31, 2014

TORONTO, ONTARIO--(Marketwired - April 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.

Contact Information

  • Sonor Investments Limited
    Mr. Tom Vandepeer
    (416) 369-1499

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