Eredene Capital Plc (ERE.L) reported loss before tax for fiscal 2012 of 6.02 million pounds, compared to a profit of 1.46 million pounds in the prior year.
On a per share basis, loss was 1.39 pence, in comparison with earnings of 0.69 pence per share reported last year.
The company noted that 5 million pounds of loss related to unrealized currency movements on fair value of Indian Rupee denominated investments.
Announcing its preliminary results for the fiscal ended March 31, 2012, the company said its unrealized adjustments on revaluation of investments totaled a loss of 2.88 million pounds, compared to a gain of 4.92 million pounds in the preceding year.
As at March 31, 2012, Net Asset Value attributable to equity shareholders was 19.6 pence per share, lower than 23.3 pence per share a year ago, mainly due to dilutionary effect of share placing and Indian Rupee exchange rate movements, the company said.
The company also said it plans to propose a tender offer for up to 19 percent of its issued shares at 18 pence per share, a pro-rata return of 3.42 pence per share.
"With the decision to return surplus cash to shareholders through a proposed share tender offer and to realize its investment in the low-cost housing development, the Eredene Group has embarked on a phase of extracting maximum value from the current portfolio for the benefit of shareholders," the company stated.
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May 01, 2026 15:54 ET Central banks dominated the economics news flow this week with almost all major ones announcing their latest policy decisions and many boosted expectations for a rate hike in June. In other news, several countries released the preliminary data for first quarter economic growth. In the U.S., comments by Fed Chair Jerome Powell were also in focus as his term ends this month.