HOUSTON, TX -- (Marketwire) -- 08/15/11 -- Equus Total Return, Inc. (NYSE: EQS) (the "Fund" or "Equus") reports net assets as of June 30, 2011, of $41,432,000, an increase of $5,099,000 since March 31, 2011. Net assets per share decreased to $3.92 as of June 30, 2011 from $4.10 as of March 31, 2011. Comparative data is summarized below (in thousands, except per share amounts):
As of the Quarter Ended 6/30/2011 3/31/2011 12/31/2010 9/30/2010 6/30/2010 --------- --------- ---------- --------- --------- Net assets $ 41,432 $ 36,333 $ 38,051 $ 31,474 $ 37,888 Shares outstanding 10,562 8,862 8,862 8,862 8,862 Net assets per share $ 3.92 $ 4.10 $ 4.29 $ 3.55 $ 4.28
The increase in aggregate net asset value resulted principally from the Fund's acquisition of certain bonds issued by Orco Germany S.A. ("Orco Germany") as further described below and an increase in the fair value of the Fund's investment in Sovereign Business Forms, Inc. from $6.6 million to $7.1 million due to improved operating performance. The decrease in net asset value on a per-share basis resulted principally from a further decrease in the fair value of the Fund's investment in ConGlobal Industries Holding, Inc., ("ConGlobal") from $7.0 million to $5.9 million. This decrease was due to a decline in ConGlobal's operating results caused by lower revenues from shipping container storage fees.
Significant events during the quarter included the following:
Significant events subsequent to the end of the quarter were as follows:
The Fund is a business development company that trades as a closed-end fund on the New York Stock Exchange, under the symbol "EQS." Additional information on the Fund may be obtained from the Fund's website at www.equuscap.com.
This press release may contain certain forward-looking statements regarding future circumstances. These forward-looking statements are based upon the Fund's current expectations and assumptions and are subject to various risks and uncertainties that could cause actual results to differ materially from those contemplated in such forward-looking statements including, in particular, the risks and uncertainties described in the Fund's filings with the SEC. Actual results, events, and performance may differ. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as to the date hereof. The Fund undertakes no obligation to release publicly any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof or to reflect the occurrence of unanticipated events. The inclusion of any statement in this release does not constitute an admission by the Fund or any other person that the events or circumstances described in such statements are material.
Pristine Advisers, LLC