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Draganfly Blames Weak Share Performance For Net Assets Fall

Mon, 27th Jan 2014 13:25

LONDON (Alliance News) -Draganfly Investments Ltd Monday said its net assets fell to 0.60 pence from 0.65 pence in the six months to the end of October last year because of a weaker performance from its remaining quoted holdings.

"This outcome reflects a weaker performance from our remaining quoted shareholdings, ASX listed Royal Resources Ltd, and AIM listed Strategic Minerals PLC, having sold our entire shareholding in Immedia Group PLC during the period under review. In addition, the costs of maintaining Draganfly's AIM market quote have contributed to the decline in net assets," Edward Bayman, chairman, said in a statement.

"Our remaining unquoted shareholding, Atlantic Healthcare PLC, continues to progress well on a number of fronts, and we look forward to updating shareholders on the company's progress in its forthcoming US/EU clinical study in due course," Bayman added.

The company said it made a GBP65,682 operating loss for the half-year to October 31, narrower than the GBP213,507 loss reported last year.

Draganfly shares were Monday quoted at 0.425 pence each, untraded.

By Samuel Agini; samagini@alliancenews.com; @samuelagini