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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
BWA Group plc | AQSE:BWAP | Aquis Stock Exchange | Ordinary Share | GB0033877555 | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.465 | 0.45 | 0.50 | 0.475 | 0.465 | 0.465 | 0.00 | 16:29:59 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMBWAP BWA GROUP PLC UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 31 OCTOBER 2015 CHAIRMAN'S STATEMENT Dear Shareholder At the same time as this statement is released, it is anticipated that trading in the Company's shares on ISDX will resume. Whilst this is in some ways good news, it does, unfortunately, also mean that the proposed reverse takeover, which was announced in October 2015 and which your Directors and the Company's advisers had been working on since April 2015, has failed to complete. It is very distressing that the transaction is not going ahead after much hard work by all concerned. I should like to thank my co-Directors and our advisers for their efforts to achieve a satisfactory conclusion. Despite this setback, your Directors remain confident that they will be able to secure a transaction with the potential to generate value for BWA shareholders and we will keep you informed of any developments in this regard. The unaudited results of the Company for the six months ended 31 October 2015 show a loss of GBP22,985 (2014: loss of GBP18,730). Turnover in the period represents the recharge to the reverse takeover target of professional fees incurred by BWA in relation to the potential acquisition. All such recharges have been settled in cash. Richard Battersby Chairman The Directors of BWA are responsible for the contents of this announcement. For further information, please contact: BWA Group Plc Richard Battersby (Non-Executive Chairman) 07836 238 172 Peterhouse Corporate Finance Limited Mark Anwyl or Duncan Vasey 020 7469 0930 PROFIT AND LOSS ACCOUNT Six months ended Year ended Notes 31 October 2015 30 April 2015 Unaudited Audited GBP GBP Turnover - 39,000 Cost of sales (39,000) - ------ ------ Gross profit - - Administrative expenses (22,985) (34,510) ------ ------ Operating loss (22,985) (34,510) Interest receivable and - similar income 2 ------ ------ (22,985) (34,508) Amounts written off - (185,000) investments ------ ------ Loss on ordinary activities before and after taxation (22,985) (219,508) and retained for the period Loss per ordinary share - 2 (0.02) basic (pence) (0.20) Loss per ordinary share 2 (0.02) -diluted (pence) (0.20) All amounts relate to continuing activities. STATEMENT OF TOTAL RECOGNISED GAINS AND LOSSES Six months ended Year ended Notes 31 October 2015 30 April 2015 Unaudited Audited GBP GBP Loss for the period (22,985) (219,508) Unrealised profit on 4 revaluation of investments 711 318,270 Impairment of A-F-S investments - charged to profit 185,000 and loss ------ ------ Total recognised gains and (22,274) 283,762 losses for the period BALANCE SHEET Notes At 31 October At 30 April 2015 2015 Unaudited Audited GBP GBP Fixed Assets Available-for-sale Investments 618,734 633,024 Current assets Debtors and prepayments 52,675 8,987 Cash at bank and in hand 1,153 2,599 ------ ------ 53,828 11,586 Creditors: amounts falling due (146,979) (105,276) within one year ------ ------ Net current liabilities (93,151) (93,690) ------ ------ Total assets less current 525,583 539,334 liabilities Capital and reserves Called up share capital 3 560,788 560,788 Share premium 4 12,663 12,663 Capital redemption reserve 4 288,625 288,625 Available-for-sale revaluation 4 618,345 617,634 reserve Profit and loss account 4 (954,838) (940,376) ------ ------ Shareholders' funds 525,583 539,334 CASH FLOW STATEMENT Six months Year ended ended 30 April 2015 31 October 2015 Audited Unaudited GBP GBP Net cash outflow from operating (6,796) (29,891) activities Returns on investments and servicing of finance Interest received - 2 Capital expenditure and investing activities Purchase of investments - (256) Proceeds received on sale of - 9,500 investments ------ ------ Net cash inflow from capital expenditure and investing activities - 9,244 ------ ------ Cash outflow before financing (6,796) (20,645) ------ ------ Financing New loans in the period 2,050 5,656 Amount introduced by directors 3,300 8,812 ------ ------ Net cash inflow from financing 5,350 14,468 ------ ------ Decrease in cash for the period (1,446) (6,177) NOTES TO THE FINANCIAL INFORMATION 1. Status of these accounts The interim accounts for the period from 1 May 2015 to 31 October 2015 are unaudited. The financial information set out in this statement does not constitute statutory accounts within the meaning of the Companies Act 2006. 2. Earnings per ordinary share Basic and diluted loss per share figures are based on the following profits / (losses) and numbers of shares: Six months ended Year ended 31 October 2015 30 April 2015 Unaudited Audited GBP GBP Loss before tax (22,985) (219,508) Weighted average number of shares 112,157,725 112,157,725 for the purpose of basic earnings per share Effect of dilutive potential ordinary - - shares: Share options ------ ------ Weighted average number of shares 112,157,725 112,157,725 for the purpose of diluted earnings per share 3.Share capital At At 31 October 30 April 2015 2015 Allotted, called up and GBP GBP fully paid Number: Class Nominal value 112,157,725 Ordinary 0.5p 560,788 560,788 4.Reserves
(MORE TO FOLLOW) Dow Jones Newswires
April 13, 2016 09:00 ET (13:00 GMT)
Capital AFS Share redemption revaluation Profit and Total premium reserve reserve loss account GBP GBP GBP GBP GBP At 1 May 2015 12,663 288,625 617,634 (940,376) (21,454) Revaluation of - - 711 AFS investments - 711 Transfer from - - - unrealised to - - realised Share-based - - - 8,523 payment Loss for the - - - (22,985) (22,985) period ------ ------ ------ ------ ------ At 31 October 12,663 288,625 618,345 (954,838) (35,205) 2015 END
(END) Dow Jones Newswires
April 13, 2016 09:00 ET (13:00 GMT)
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