9th Sep 2014 11:44
LONDON (Alliance News) - Paternoster Resources PLC Tuesday said its net assets fell slightly over the course of the first half of 2014, but noted that the calculation would have been better if recent developments at two of its investments had been included.
In a statement, Paternoster Resources said net assets fell to GBP2.5 million, or 0.40 pence per share, as at the end of June, compared with GBP2.6 million, or 0.43p per share, at the end of 2013.
However, Paternoster Resources said the change did not include recent developments at MX Oil PLC and Plutus Powergen PLC.
The inclusion of these would have given net assets of GBP2.8 million, or 0.48p per share, the company said.
Paternoster currently holds 8.6 million shares in MX Oil and 94.3 million in Plutus PowerGen.
The company's shares were Tuesday quoted up 3.6% at 0.290p.
By Samuel Agini; [email protected]; @samuelagini
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