30th Sep 2013 14:59
LONDON (Alliance News) - Tau Capital PLC, the investment company that is being wound down, Monday said it would focus on reducing its costs wherever possible, while seeking a favourable sell-off of its remaining investments.
Tau Capital's net asset value per share declined to 46 cents on June 30, compared with 57 cents at the same point in 2012 as a result of the return of funds to shareholders, reducing its total net assets along the way.
The company made a total comprehensive loss of USD8.7 million for the six months to June 30, compared with a USD11.3 million loss for the corresponding period the year prior.
Tau Capital said it would retain approximately USD7 million following the third tender offer for working capital purposes, as well as to ensure the company meets the solvency requirements of the Isle of Man Companies Act.
Tau Capital shares were Monday quoted at 0.31 pence, down 0.015 pence, or 4.6%.
By Samuel Agini; [email protected]; @samuelagini
Copyright 2013 Alliance News Limited. All Rights Reserved.
Related Shares:
TAU.L