Saga Tankers ASA : Q1 2017 Financial results
(Oslo, 30 May 2017) Saga Tankers ASA ("Saga", OSE: SAGA) reported a net asset value (NAV) of NOK 839 million at the end of the first quarter of 2017, corresponding to NOK 3.15 per share, excluding minority interests and with Vallhall valued at book value. By the end of first quarter, Saga had a cash balance of NOK 474 million and no long term debt, except the real estate financing related to the holding in Vallhall. The positive development in available for sale reserves of NOK 20.7 million, classified as other comprehensive income, is the net effect of positive return on investment