Saga Tankers ASA: Q3 2020 financial results

(Oslo, 13 November 2020) Saga Tankers ASA (“Saga”, OSE: SAGA) reported a net asset value (NAV) of NOK  242 million end of the third quarter 2020, corresponding to NOK 0.91 per outstanding share, excluding minority interests and with Vallhall valued at book value. By the end of the third quarter, Saga had a cash balance of NOK 91 million, excluding cash held in the subsidiary Vallhall, that  has been reclassified as assets held for sale and liabilities held for sale, pending the subsequent disposal...

Oslo, 13/11/2020 (informazione.news - comunicati stampa - trasporti)

By the end of the third quarter, Saga had a cash balance of NOK 91 million, excluding cash held in the subsidiary Vallhall, that  has been reclassified as assets held for sale and liabilities held for sale, pending the subsequent disposal.

During the quarter Saga distributed a dividend of NOK 0.1 per share, corresponding to NOK 26.7 million.

The net market value of shares held in SD Standard Drilling Plc decreased by NOK 7.4 million and the shares in Vistin Pharma ASA increased by NOK 11.2 million. Net NOK 3.8 million has been classified as net gain from available for sale assets. In addition, a net loss of 4.7 million from current investments resulted in a total net loss from investments of NOK 0.9 million for the third quarter.

Subsequent events

Key figures

Key balance sheet figures as of 30 September 2020:

Financial assets are adjusted to market value according to IFRS. Vallhall Arena is a subsidiary, but has been reclassified as assets and liabilities held for sale in the balance statement, and as discontinued operations in the profit and loss statement in the third quarter. The disposal has been executed in the fourth quarter.

For further information, please contact:
CEO Espen Lundaas
+47 92 43 14 17

This information is subject to the disclosure requirements pursuant to Section 5-12 the Norwegian Securities Trading Act

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