Ravensource Fund (T:RAV.UN)
Business Focus: Closed End Funds
| Sector: Financials | Industry: Closed End Funds |
| Company Contact | |
| Address: | 30 St Clair Avenue West,, Suite 901 TORONTO ON M4V 3A1 |
| Tel: | 1-416-2502845 |
| Website: | https://www.ravensource.ca |
| IR: | See website |
| Key People | ||
| Scott R. Reid President, Director of Stornoway Portfolio Management Inc | Daniel Metrikin Principal and Executive Vice President - Investments of Stornoway Portfolio Management Inc | |
| Business Overview |
| Ravensource Fund (The Trust) is a Canada-based closed-end investment trust. The principal investment objective of the Trust is to achieve absolute long-term returns, with an emphasis on capital gains, through investment in selected North American securities. The Fund invests in distressed securities, alternative credit, and special situation equity securities. The Trust seeks investment opportunities from situations that are overlooked by traditional investors. The Trust invests primarily in Canadian and United States small- and mid-cap equities. It also invests in corporate debt, creditor claims and/or equity securities of companies. The Trust invests in various sectors, including financial, media and publishing, litigation finance, real estate, oil and gas, technology, and food and beverage. Stornoway Portfolio Management Inc. is the investment manager for the Trust. |
| Financial Overview |
| For the six months ended 30 June 2023, Ravensource Fund revenues increased from -C$2.4M to C$480K. Net income totaled C$216K vs. loss of C$2.7M. Revenues reflect Net unrealized loss on financial assets increase of 63% to -C$826K, Foreign Exchange Gain/Loss'€“Non-Business increase from -C$43K to C$929K, Change in unrealized gain on forward con increase from -C$300K to C$385K. Net Income reflects Legal Fees decrease of 77% to C$10K (expense). |
| Reporting Currency: | Canadian Dollars |
| Enterprise value: | $25.06M as of Jun 30, 2023 |
| Annual revenue (TTM): | $0.92M as of Jun 30, 2023 |
| EBITDA (TTM): | $0.34M as of Jun 30, 2023 |
| Net annual income (TTM): | $0.33M as of Jun 30, 2023 |
| Free cash flow (TTM): | $9.09M as of Jun 30, 2023 |
| Net Debt Last Fiscal Year: | $0.27M as of Jun 30, 2023 |
| Shares outstanding: | 1,296,075 as of Feb 9, 2024 |
| TTM: Trailing Twelve Months EBITDA: Earnings Before Interest, Taxes, Depreciation, & Amortization | |
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