NorRock Realty Finance Corporation Announces 2013 Semi-Annual Financial Results
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Zurich Insurance Finance Chief Pierre Wauthier Found Dead
Business Plan Following closing of the Reactivation Transaction, it is NorRock’s intention to change its business focus from being a secured lender in the commercial real estate industry to carrying on business as a merchant bank focused on creating value for shareholders by making investments in undervalued assets in various industry sectors. The initial investments and the first two transactions undertaken by NorRock will be the assets acquired pursuant to the LaSalle Acquisition and the Highview Acquisition. Cash on Hand At June 30, 2013, the Corporation had approximately $63,000 cash on hand. Net Asset Value As at June 30, 2013, the Corporation’s net assets were approximately -$0.24 million (December 31, 2012 – $0.08 million). In accordance with National Instrument 81-106 – Investment Fund Continuous Disclosure (“NI 81-106”) requirements as described below under the heading “Canadian GAAP to NI 81-106 NAV Differences”, NAV at June 30, 2013 was -$0.048 (December 31, 2012 – $0.002).
He worked for two years at the French Ministry of Foreign Affairs and joined JPMorgan Chase & Co. (JPM) in 1985, before taking on the job at Zurich Insurance. Zurich Insurance, based in Zurich, said on Aug. 15 that floods in central Europe and tornadoes in the U.S.