Etaireia Investments PLC
(“Etaireia” or the “Company”)
FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2013
I am pleased to present the interim results for Etaireia Investments PLC for the six
months ended 30th September 2013.
There was a loss from continuing operations for the year of GBP21,083 (2012: GBP26,233).
Review of Activities
During the period GBP45,000 of loan notes were converted to equity and the company issued 45,000,000 new ordinary shares.
There have been no other material events, transactions or developments. The losses relate solely to administrative costs incurred.
Operating expenses will continue to be kept at a minimum until more regular cash flows can be generated.
The cash position remains adequate for the current level of activity but will be reviewed in the context of any investments that may be made.
Post Balance Sheet Events
The Company is pleased to have announced the appointment of Stuart J. Black as an Executive Director earlier today. The Board believes that Stuart’s knowledge of the property markets nationwide will enable the Company to identify attractive investment targets within this sector. The Board continues to actively seek new investment and acquisition opportunities to enhance shareholder value and we hope to make further announcements in the near future.
12th December 2013
CONSOLIDATED INCOME STATEMENT
Revenue – -
Cost of sales – -
Gross Profit – -
Administrative expenses (21,083) (26,233)
Loss before tax (21,083) (26,233)
Taxation – -
Loss for the period (21,083) (26,233)
Basic and diluted loss per share (note 1) (0.02475) (0.0308)
Trade and other receivables – 194,723
Prepayments 5,400 3,344
Bank and cash 116,173 459
Trade and other payables (21,600) (24,630)
Net Current Assets 99,973 173,896
Convertible Loan 205,000 250,000
Net Liabilities (105,027) (76,104)
Issued share capital 221,536 217,036
Share premium 488,991 448,491
Reserve acquisition 1,219,167 1,219,167
Profit and loss (2,034,721) (1,960,798)
Notes to the financial information
1. The calculation of loss per share is based on the loss on ordinary activities after taxation and the weighted average number of shares of 85,166,666 in issue during the period. Due to the loss incurred in the period under review, the dilutive securities have no effect as at 30 September 2013.
3. While the financial information included in this announcement has been computed in accordance with International Financial Reporting Standards (IFRS), this announcement does not itself contain Sufficient information to comply with IFRS.
4. The financial information has not been audited or reviewed by the auditors, or extracted from audited information. This financial statement does not constitute statutory accounts within the meaning of Section 435 of the Companies Act 2006 (the “Act”).
5. The Directors have not declared a dividend for the period.
6. This statement was approved by the Board of Directors. Copies of this statement will be available free of charge from the Company’s Registered Office at 2nd Floor, Cambridge House, Cambridge Road, Harlow Mill, Essex, CM20 2EQ.
The Directors of the Company accept responsibility for the content of this announcement.
Etaireia Investments Plc
Tel: 078 3018 2501
Peterhouse Corporate Finance Limited
Tel: 020 7469 0932
Etaireia Investments Plc
(END) Dow Jones Newswires
December 17, 2013 09:02 ET (14:02 GMT)