Saga Tankers ASA : Q4 2018 financial results

(Oslo,15 February 2019) Saga Tankers ASA ("Saga", OSE: SAGA) reported a net asset value (NAV) of NOK  302.1 million end of the fourth quarter 2018, corresponding to NOK 1.14 per outstanding share, excluding minority interests and with Vallhall valued at book value. By the end of the fourth...

London, 15/02/2019 (informazione.news - comunicati stampa - trasporti)

(Oslo,

By the end of the fourth quarter, Saga had a cash balance of NOK 143 million. All long-term debt are related to the real estate in Vallhall (Saga's ownership is 55%).

During the quarter, the market value of shares held in SD Standard Drilling Plc, Vistin Pharma ASA and Pareto Bank ASA was reduced with NOK 75.5 million. This is classified as net loss from available for sale assets.

Saga has during the quarter disposed all remaining shares in Pareto Bank ASA The Company has realized a total profit of NOK 55.3 mill on the shares in Pareto Bank ASA in the period from the acquisition to disposal, dividends included. 

The company made a dividend distribution of NOK NOK 40 million in the quarter, corresponding to NOK 0.15 per share.

For the years 2017 and 2018 Saga have distributed in total ~NOK 431 million, corresponding to NOK 1.62 per share to its shareholders.

Saga has during first quarter 2019 increased its ownership in Vistin Pharma ASA from 12.4% to 14.2% with a purchase price of NOK 6.9 per share.

 

 

 

 

 

Financial assets are adjusted to market value according to IFRS. Vallhall Arena is a subsidiary.

The company currently owns 100% of five large-size PSV's and has ownership and economic exposure in 13 mid-size PSV's bringing the total fleet of part and/or fully owned vessels to 18. This includes one medium size vessel that are sold but leased back on a 1 year bare boat contract.

For further information: www.standard-drilling.com

Vistin Pharma is a holding company for Vistin Pharma AS and Vistin Trading AS. Vistin Pharma AS is a Norwegian pharmaceutical company producing Active Pharmaceutical Ingredients (APIs). Vistin Trading AS was established in May 2018 to invest in energy related financial instruments or opportunities.

For further information: www.vistin.com

Vallhall Arena is Oslo's largest indoor arena, centrally located at Helsfyr in Oslo with good public transportation connections. Several hotels are also located close to the arena. The arena was built in 2001. The size of the arena is about 9 000 square meter. The arena is well-known for its high quality and is used by school children, as well as professionals. The arena is also leased out for events such as exhibitions, seminars, concerts and other events requiring facilities that Vallhall Arena can offer.

For more information: www.vallhall.no

CEO Espen Lundaas

Tel +47 92 43 14 17

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