Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 
OFFON

4-Traders Homepage  >  Equities  >  Nyse  >  Equus Total Return, Inc.    EQS

SummaryQuotesChartsNewsCalendarCompany 
News SummaryMost relevantAll newsSector newsTweets

Equus Announces Third Quarter Net Asset Value

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/15/2017 | 01:48am CET

HOUSTON, Nov. 14, 2017 (GLOBE NEWSWIRE) -- Equus Total Return, Inc. (NYSE:EQS) (the “Fund” or “Equus”) reports net assets as of September 30, 2017, of $42.0 million, a decrease of approximately $0.1 million since June 30, 2017.  Net asset value per share decreased to $3.11 as of September 30, 2017 from $3.12 as of June 30, 2017.  Comparative data is summarized below (in thousands, except per share amounts): 

As of the Quarter Ended9/30/20176/30/20173/31/2017
12/31/2016  9/30/2016
           
Net assets$41,999$42,122$41,422$42,740$41,506
Shares outstanding 13,518 13,518 13,518 12,674 12,674
Net assets per share$3.11$3.12$3.06$3.37$3.27
           

The following were the portfolio companies that had significant changes to their fair values during the third quarter of 2017: 

  • Increase in the Value of Equus Energy.  The Fund established Equus Energy, LLC (“Equus Energy”) as a wholly-owned subsidiary to be used as a platform for energy-related investments, with particular emphasis on oil and gas enterprises.  Equus Energy owns various working interests, which are presently derived from 144 producing and non-producing oil and gas wells, including associated development rights of approximately 22,360 acres, situated on 12 separate properties in Texas and Oklahoma. The working interests range from a de minimus amount to 50% of the leasehold that includes these wells. Also included in the interests acquired by Equus Energy are working interests of 7.5% and 2.5% in the Burnell and North Pettus Units, respectively, which collectively comprise approximately 13,000 acres located in the area known as the “Eagle Ford Shale” play.  The fair value of the Fund’s holding in Equus Energy increased from $6.25 million to $6.50 million during the third quarter of 2017, principally due to improved economic prospects affecting mineral rights held by Equus Energy.  The Fund received advice and assistance from a third-party valuation firm to support its determination of the fair value of this investment.
     
  • Increase in the Value of MVC Capital Shares.  MVC Capital, Inc.’s (“MVC”) common stock increased from $9.86 per share on June 30, 2017 to $10.01 per share on September 30, 2017.  In addition to the 483,090 MVC shares held by Equus at June 30, 2017, the Fund received 6,319 MVC shares as a dividend during the third quarter of 2017. The receipt of share dividends and increase in the MVC share price led to a corresponding increase in the fair value of this holding from $4.8 million to $4.9 million during the third quarter of 2017.

About Equus

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 performance of the Fund, including our ability to achieve our expected financial and business objectives, and the other 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. Except as required by law, 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.

Contact:

Patricia Baronowski
Pristine Advisers, LLC
(631) 756-2486


© GlobeNewswire 2017
share with twitter share with LinkedIn share with facebook
share via e-mail
0
Latest news on EQUUS TOTAL RETURN, INC.
11/17 EQUUS TOTAL RETURN : Announces Third Quarter Net Asset Value
11/15 EQUUS TOTAL RETURN, INC. (NYSE : EQS) Files An 8-K Other Events
11/15 EQUUS TOTAL RETURN, INC. : Other Events, Financial Statements and Exhibits (form..
11/15 Equus Announces Third Quarter Net Asset Value
11/14 EQUUS TOTAL RETURN : Management's Discussion and Analysis of Financial Condition..
08/28 EQUUS TOTAL RETURN, INC. (NYSE : EQS) Files An 8-K Submission of Matters to a Vo..
08/28 EQUUS TOTAL RETURN, INC. : Submission of Matters to a Vote of Security Holders, ..
08/28 Equus Shareholders Grant New Authorization to Withdraw BDC Election
08/17 EQUUS TOTAL RETURN : Announces Second Quarter Net Asset Value
08/15 EQUUS TOTAL RETURN, INC. (NYSE : EQS) Files An 8-K Other Events
More news
News from SeekingAlpha
10/23 C'mon, Tell Us How You Really Feel!
10/19 MAIN STREET CAPITAL : Does The Price/NAV Matter At All?
09/12 FINANCIALS - TOP 5 GAINERS / LOSERS : 00 pm
08/18 Equus Recovering From Botched Merger
06/18 A Windfall For EQS Shareholders
Chart EQUUS TOTAL RETURN, INC.
Duration : Period :
Equus Total Return, Inc. Technical Analysis Chart | EQS | US2947661003 | 4-Traders
Managers
NameTitle
John A. Hardy Chief Executive Officer & Director
Robert L. Knauss Chairman
L’Sheryl D. Hudson Chief Financial Officer, Treasurer & Senior VP
Kenneth I. Denos Secretary, Director & Chief Compliance Officer
Henry W. Hankinson Independent Director