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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Caplay | LSE:CLY | London | Ordinary Share | GB0002924651 |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.075 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:0261N Caplay PLC 30 November 2006 FOR IMMEDIATE RELEASE 30 NOVEMBER 2006 Caplay Plc Results for the Year Ended 31 May 2006 Chairman's report The Company has continued to pursue its strategy of disposing of underperforming assets and repositioning itself to take advantage of future growth opportunities in the last financial year. The results for the year reflect this strategy and include an exceptional loss of #669,826 following the disposal of the company's investment in Catalyst Investment Corp. As notified in last year's chairman's statement as post balance sheet disclosures, in August 2005 the Company restructured its convertible loan to Private Trading Systems Inc (PVTM). PVTM is a publicly traded securities trading platform that provides an order book matching system. In October the Company settled all outstanding litigation issues with its former Chief Executive, Ken Murray. Later that month the company sold its interest in Catalyst Investment Corp back to its major shareholder. In November 2005 the company successfully raised #1,000,000 by the issue of ordinary share capital before expenses to provide working capital and to enable the Board to identify and implement its strategy for growth. Finally, in February 2006, the Company announced that a subsidiary, Baden Associates Limited, was to be wound up. This completed the disposal of the Company's interests in public houses. As a result of the above transactions the Company has significantly simplified its business which now consists primarily of an investment in PVTM, where the Company owns 722,900 shares of restricted stock. Based on the closing price of PVTM on 28th November of $5 per share the Company's shareholding has a value of $3.61 million (#1.87m based on an exchange rate of $1.93 to #1). In addition, as at the same date the Company has cash reserves of approximately #950,000, with no significant liabilities and limited ongoing running costs. Following the rationalisation of the Company's assets, the directors have waived their entitlement to remuneration and the costs associated with the running of the Company have been kept to professional fees and those costs required to maintain the AIM listing. Your board continues to pursue opportunities aimed at realising value for shareholders and looks forward to updating shareholders in due course. Anthony Fabrizi Consolidated profit and loss account For the year ended 31 May 2006 2006 2005 # # Turnover 45,927 151,325 Administrative expenses (638,325) (1,434,748) Operating loss (592,398) (1,283,423) Investment income (669,826) - Other interest receivable 30,173 78,679 and similar income Interest payable and similar (3,000) (820) charges Loss on ordinary activities (1,235,051) (1,205,564) before taxation Tax on loss on ordinary - - activities Loss on ordinary activities (1,235,051) (1,205,564) after taxation Loss per share - basic and (0.53p) (0.72p) diluted The profit and loss account has been prepared on the basis that all operations are continuing operations. Statement of total recognised gains and losses For the year ended 31 May 2006 2006 2005 # # Loss for the financial year (1,235,051) (1,205,564) Unrealised surplus on fixed asset 1,687,631 - investment Total recognised gains and losses relating to 452,580 (1,205,564) the year Consolidated balance sheet As at 31 May 2006 2006 2005 # # # # Fixed assets Tangible assets 1,737 5,292 Investments 2,710,647 1,074,419 2,712,384 1,079,711 Current assets Debtors 96,103 1,120,541 Cash at bank and in hand 876,559 902,821 972,662 2,023,362 Creditors: amounts falling due (61,514) (196,770) within one year Net current assets 911,148 1,826,592 Total assets less current liabilities 3,623,532 2,906,303 Provisions for liabilities - (650,000) 3,623,532 2,256,303 Capital and reserves Called up share capital 6,800,000 5,800,000 Share premium account 6,112,612 6,197,963 Revaluation reserve 1,687,631 - Profit and loss account (10,976,711) (9,741,660) Shareholders' funds 3,623,532 2,256,303 Equity interests (376,468) (1,743,697) Non-equity interests 4,000,000 4,000,000 3,623,532 2,256,303 Consolidated cash flow statement for the year ended 31 May 2006 2006 2005 # # # # Net cash outflow from operating activities (1,305,546) (2,965,256) Returns on investments and servicing of finance Interest received 30,173 78,679 Interest paid (3,000) (820) Net cash inflow for returns on 27,173 77,859 investments and servicing of finance Capital expenditure and financial investment Payments to acquire tangible - (3,428) assets Payments to acquire investments (24,227) (1,075,242) Receipts from sales of investments 361,689 - Net cash inflow/(outflow) for 337,462 (1,078,670) capital expenditure Net cash outflow before management (940,911) (3,966,067) of liquid resources and financing Management of liquid resources Bank deposits 584,980 265,000 Net cash outflow from decrease in 584,980 265,000 liquid resources Financing Issue of ordinary share capital 1,000,000 2,400,000 Cost of share issue (85,351) - Net cash inflow from financing 914,649 2,400,000 Increase/(decrease) in cash in the 558,718 (1,301,067) year Reconciliation of operating loss to net cash 2006 2005 outflow from operating activities # # Operating loss (592,398) (1,283,423) Depreciation of tangible assets 1,143 1,253 Amortisation of intangible assets 44,115 - Loss on disposal of tangible assets 2,412 - Decrease/(increase) in debtors 24,438 (1,016,908) Decrease in creditors within one year (135,256) (667,001) Decrease in provision (650,000) - Write down of investments - 823 Net cash outflow from operating activities (1,305,546) (2,965,256) Analysis of net funds 1 June Cash flow 31 May 2006 2005 # # # Net cash: Cash at bank and in hand 317,841 558,718 876,559 Liquid resources: Bank deposits 584,980 (584,980) - Net funds 902,821 (26,262) 876,559 Notes to the preliminary announcement 1 The financial information set out above does not constitute full accounts within the meaning of Section 240 of the Companies Act 1985 ('the Act'). Full accounts for the Group for the year, which received an unqualified auditors' report within the meaning of Section 235 of the Act and which will not contain a statement under Section 237 (2) or (3) of the Act, will be posted to shareholders as soon as is practicable. 2 The directors of the Company do not propose the payment of a dividend. 3 Earnings per ordinary share The earnings and number of shares used in the calculation of earnings per ordinary share are set out below: 2006 2005 Basic: Loss for the financial year 1,235,051 1,205,564 Weighted average of ordinary shares 234,246,575 166,666,668 Loss per share 0.53p 0.72p There was no dilutive effect from the warrants or options outstanding during the year. 4 Copies of this announcement are available from the Company Secretary at 25 Manchester Square, London W1U 3PY and copies of the Annual Report and Accounts will also be available. 5 For further information please contact: Patrick Claridge - 07793 555224 Anthony Fabrizi - 07771 782434 This information is provided by RNS The company news service from the London Stock Exchange END FR FDFFMSSMSESF
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