Regulatory News Item
Nov 24, 2016

Quarterly Update to 30 September 2016


Paternoster Resources plc, the AIM quoted investing company focused on the natural resources sector, is pleased to provide a quarterly update for the three months to 30 September 2016.

Key points

Given the strong growth of the Company's underlying portfolio and good levels of liquidity which is continuing into Q4 of 2016, the Company is currently considering implementing a capital reduction in order to create distributable reserves. This would give the Company both the option to provide a distribution to shareholders and also to acquire its own shares, both of which should provide an increased real return to shareholders and allow flexibility with regard to capital structure going forward. A capital reduction would require shareholder approval and the Company will provide a further update on this in due course.
 
Nicholas Lee, Chairman of Paternoster, commented:
"The value of Paternoster's portfolio has continued to increase during the third quarter of 2016. Almost 90% of its investment portfolio, which is currently worth around £3.6 million, now comprises principally cash and listed investments."

 

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