18th Mar 2014 13:53
LONDON (Alliance News) - Quoram PLC Tuesday said its net assets declined in the half-year as the value of its interest in Wessex Exploration PLC declined and the mark to market value of its holding in Plant Health Care PLC dropped.
Reporting a GBP789,000 pretax loss for the six months ended December 31, compared with a GBP1.6 million pretax loss for the corresponding period a year earlier, Quoram said its net asset value fell to 0.25 pence a share from 0.33 pence over the course of the half-year.
"Given the current profile of the balance sheet and within the scope of the investment policy approved in March 2013, the board is increasingly focused on identifying a small number of strategic investment opportunities. The board continues to review such opportunities and will update shareholders when further investments are made. With a significant proportion of the balance sheet in cash and a low overhead, the company is well positioned to capitalise on opportunities in 2014 as they arise," James Ede-Golightly, Chairman, said in a statement.
Quoram shares were Tuesday quoted at 0.163 pence, down 1.2%.
By Samuel Agini; [email protected]; @samuelagini
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