We could not find any results for:
Make sure your spelling is correct or try broadening your search.
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:8324I Caplay PLC 30 November 2007 For immediate release 30 November 2007 Caplay Plc ("Caplay" or the "Company") Audited Results for the Year Ended 31 May 2007 The Board of Caplay announces its results for the year ended 31 May 2007. The Report and Accounts are being posted to shareholders today. Chairman's report The Board of Caplay is pleased to announce its audited results for the year ended 31 May 2007. As highlighted in the interim statement, having rationalised the business, the Board is now focussing on identifying opportunities to increase shareholder value. Although the Board reviewed a number of potential transactions in the second half of the year, we were unable to conclude any transaction. However, with financial markets showing increased volatility over recent months the Board believes the number and quality of opportunities that it receives will improve. As previously indicated, in order to minimise ongoing costs, the Directors have waived any rights to remuneration and general overheads of the Company in the year were #168,737 (2006: #638,325). The current years expenses include #101,000 of legal and accounting fees in respect of an abortive acquisition. There were important developments during the second half of the year with the Company's major investment in Private Trading Systems Plc (formerly Private Treaty Markets Inc) ("PTS"). As announced on 14 June 2007, the listing of PTS's shares was moved from the NASDAQ 'pink sheets' to the PLUS market in the UK. Following this move, the Company is hopeful that it will prove easier to realise its investment at the appropriate time. The current share price of PTS is 2.5p per share, which values the Company's investment in PTS at #180,000. As at 31 October 2007, the Company's cash balances amounted to #820,000. The board has continued to search for investment opportunities which will realise value for shareholders. Although we were unable to identify any suitable transactions during the year, we believe the more uncertain conditions affecting financial markets will be helpful in identifying interesting opportunities and we therefore remain hopeful of carrying out a transaction in the current year. The Company is now regarded as an investing company under the AIM Rules and our strategy is set out below. As an investing company we will annually seek shareholder approval regarding the Company's investment status. Company strategy The Company has a generalist investment strategy to focus on opportunities in the European Union. The Company's equity interest in any proposed investment may either be a controlling or minority interest. The proposed investments may either be quoted or unquoted companies, partnerships or joint ventures or business assets. The Company has no sector focus and will consider investments across all sectors and stages of business development. The Directors are experienced in evaluating acquisition and investment prospects, quoted and unquoted in the European Union and believe that their broad collective experience in acquisitions, accounting, corporate and financial management together with their wide industry contacts and where necessary, consultant experts mean that the Company will be able to achieve its objectives. The Directors will conduct initial due diligence appraisals of potential projects, and where they believe further investigation is warranted, they will appoint suitably qualified, and where appropriate, independent advisers and consultants. The Company intends to be an involved and active investor. Accordingly, the Company is likely to seek participation in the management of the board of directors of a company in which the Company invests with a view to improving the performance and use of its assets or properly protecting the intellectual property therein, in such ways as should result in an increase in the value of such a company. The Company hopes that the resulting benefit would provide a satisfactory return to the Shareholders. The Directors will seek the consent of shareholders for its investment strategy on an annual basis (at the Annual General Meeting) in order to comply with the guidance to Rule 8 of the AIM Rules. In the event that no substantial investment is made within 18 months, it is the intention of the Directors to convene a general meeting of the Shareholders to consider whether to continue ongoing research into investment opportunities or to wind up the Company and distribute any surplus cash back to the Shareholders. Anthony Fabrizi Group profit and loss account For the year ended 31 May 2007 2007 2006 # # Turnover - 45,927 Administrative expenses Write down in value of investments (745,871) - Other expenses (168,735) (638,325) ----------- ----------- Operating loss (914,606) (592,398) Investment income - (669,826) Other interest receivable and similar income 41,094 30,173 Interest payable and similar charges (39) (3,000) ----------- ----------- Loss on ordinary activities before taxation (873,551) (1,235,051) Tax on loss on ordinary activities - - ----------- ----------- Loss for the year (873,551) (1,235,051) ========= =========== Loss per share - basic and diluted (0.31)p (0.53)p ========= =========== 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 2007 2007 2006 # # Loss for the financial year (873,551) (1,235,051) Unrealised (deficit)/surplus on trade investment (1,667,631) 1,687,631 ------------- ------------- Total gains and losses recognised since last financial statements (2,541,182) 452,580 =========== ========== Group balance sheet As at 31 May 2007 2007 2006 # # Fixed assets Tangible assets 594 1,737 Investments 277,145 2,710,647 ------------- ------------- 277,739 2,712,384 ------------- ------------- Current assets Debtors 16,132 96,103 Cash at bank and in hand 846,658 876,559 ------------- ------------- 862,790 972,662 Creditors: amounts falling due within one year (78,179) (61,514) ------------- ------------- Net current assets 784,611 911,148 ------------- ------------- Total assets less current liabilities 1,062,350 3,623,532 ========== ========== Capital and reserves Called up share capital 6,800,000 6,800,000 Share premium account 6,112,612 6,112,612 Revaluation reserve - 1,687,631 Profit and loss accounts (11,850,262) (10,976,711) ------------- ------------- 1,062,350 3,623,532 =========== ========== Group cash flow statement for the year ended 31 May 2007 2007 2006 # # Net cash outflow from operating activities (70,956) (1,305,546) ------------- ------------- Returns on investments and servicing of finance Interest received 41,094 30,173 Interest paid (39) (3,000) ------------- ------------- Net cash inflow for returns on investments and servicing of finance 41,055 27,173 ------------- ------------- Capital expenditure and financial investment Payments to acquire investments - (24,227) Receipts from sale of investments - 361,689 ------------- ------------- Net cash inflow for capital expenditure - 337,462 ------------- ------------- Net cash outflow before management of liquid resources and financing (29,901) (940,911) ------------- ------------- Management of liquid resources Bank deposits - 584,980 ------------- ------------- Financing Issue of ordinary share capital - 1,000,000 Cost of share issue - (85,351) ------------- ------------- Net cash inflow from financing - 914,649 ------------- ------------- (Decrease)/increase in cash in the year (29,901) 558,718 ========= ========= Reconciliation of operating loss to net cash outflow from operating activities 2007 2006 # # Operating loss (914,606) (592,398) Depreciation of tangible assets 1,143 1,143 Amortisation of intangible assets - 44,115 Loss on disposal of tangible assets - 2,412 Decrease in debtors 79,971 24,438 Increase/(decrease) in creditors within one year 16,665 (135,256) Write down of investment 745,871 - Decrease in provision - (650,000) ------------- ------------- Net cash outflow from operating activities (70,956) (1,305,546) ========== =========== Analysis of net funds 1 June 2006 Cash flow 31 May 2007 # # # Net cash: Cash at bank and in hand 876,559 (29,901) 846,658 ======== ========= ======== Reconciliation of net cash flow to movement in net funds 2007 2006 # # (Decrease)/increase in cash in the year (29,901) 558,718 Cash outflow from decrease in liquid resources - (584,980) ----------- ----------- Movement in net funds in year (29,901) (26,262) Opening net funds 876,559 902,821 ----------- ----------- Closing net funds 846,658 876,559 ========== ======== 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, are being posted to shareholders today. 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: 2007 2006 Basic: Loss for the financial year 873,551 1,235,051 Weighted average of ordinary shares 280,000,000 234,246,575 Loss per share 0.31p 0.53p ======== ======= There was no dilutive effect from the warrants or options outstanding during the year. 4 Copies of this announcement and the Annual Report and Accounts are available from the Company Secretary at 25 Manchester Square, London W1U 3PY and from Caplay's website, www.caplay-plc.co.uk. 5 For further information please contact: Enquires: Caplay PLC +44 20 375 9060 Tony Fabrizi, Chairman Nominated Advisor + 44 20 7628 3396 Roland Cornish, Beaumont Cornish Limited This information is provided by RNS The company news service from the London Stock Exchange END FR FEUFWUSWSEEF
1 Year Caplay Chart |
1 Month Caplay Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions