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Saga Tankers ASA: Q3 2019 financial results

Written by Customer Service on . Posted in Public Companies.

(Oslo, 15 November 2019) Saga Tankers ASA (“Saga”, OSE: SAGA) reported a net asset value (NAV) of NOK  309.4 million end of the third quarter 2019, corresponding to NOK 1.16 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 119 million. All long-term debt are related to the real estate owned by Vallhall (Saga’s ownership is 55%).During the quarter, the net market value of shares held in SD Standard Drilling Plc and Vistin Pharma ASA decreased with NOK 5.2 million. This is classified as net loss from available for sale assets.Saga has not made any adjustments in the portfolio classified as financial assets available for sale during the quarter.Key figuresFinancial assets are adjusted to market value according to IFRS. Vallhall Arena is a subsidiary.By end of third quarter the main investments in Saga Tankers ASA were:SD Standard Drilling Plc (18.4% ownership):

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