Circassia Share Discussion Threads

[pork belly] 15/7/2005 17:30

Phil Edmonds said: "Unfortunately this deal has not crystallized"

so moritz has bought 8m from existing directors who did nothing and says:

"I am examining a number of possible acquisitions for Capricorn. Following the change in AIM Rules this is likely to comprise a reverse takeover. I am determined to bring forward a transaction for shareholder approval as soon as possible."


so its bad news, followed by good news. will be interesting to see what happens next week ?

[pork belly] 15/7/2005 17:26

released at 16:35 today !



RNS Number:9563O Capricorn Resources PLC 15 July 2005

Capricorn Resources Plc: Market / AIM / Epic: CIR / Sector: Exploration

15th July 2005


Capricorn Resources Plc
Changes in Directors' Shareholdings


Capricorn Resources Plc ('Capricorn' or 'the Company') is pleased to announce that Brian Moritz, a director of Capricorn, has today acquired 8,000,000 Ordinary Shares of 0.1p from other directors, comprising 4,000,000 from Phil Edmonds and 4,000,000 from Andrew Groves, at 0.25p per share.

As a result of the transfers, Brian Moritz will be interested in 10,000,000 Ordinary Shares (15.0%) and Phil Edmonds in 2,500,000 Ordinary Shares (3.8%). Andrew Groves will no longer have an interest in such shares.

Following the completion of the transaction, Brian Moritz will become executive chairman in place of Phil Edmonds, who is stepping down from the board with immediate effect. Andrew Groves will remain on the board.

Brian Moritz said: "I am examining a number of possible acquisitions for Capricorn. Following the change in AIM Rules this is likely to comprise a reverse takeover. I am determined to bring forward a transaction for shareholder approval as soon as possible."

Phil Edmonds said: "We announced in the interim statement that we were in the process of evaluating a deal and hoped that we would be in a position to send out to shareholders a proposal regarding the deal and to update the market accordingly. Unfortunately this deal has not crystallized. However, Brian approached us with the offer and we decided that it would best serve the interests of the shareholders if he assumed control of Capricorn. Both Andrew and I will continue to support Brian going forward and we look forward to helping him progress the Company."


* * ENDS * *

[superflyer] 13/7/2005 14:30

wait for it.... wait for it....... news is on the doorstep.

Watch this space.

[r33skyline] 06/7/2005 20:53

Agreed its not looking good ..........

[red ninja] 06/7/2005 20:44

r33,

Didn't pick up your sarcastic tone.

Totally agree though, I find it hard to believe that the dodgey duo can
or will want to rescue this stock.

[red ninja] 05/7/2005 23:04

Nice 30k buy - oh that must be all of £1.2k.

Not exactly a major vote of confidence.

[phil2003] 05/7/2005 18:15

ever feel like your cash is just paying someones wages ??

[r33skyline] 05/7/2005 15:08

Nice 30k buy today

[superflyer] 01/7/2005 13:57

remember that hes in the business of making money, if its good for him then CIR will go as high as they want it to go, dont forget that.

[miamigo] 01/7/2005 07:25

shortermer,

I wouldn't hold your breath waiting for any announcement of any hoped for deal. they say this every 6 months or so. i don't think PE has any credibility after the WNL debacle.

[red ninja] 30/6/2005 09:19

This company tells its investors its in discussions every results. Is it any different this time ?

[shortermer1] 30/6/2005 09:02

Yes looks like you're right miamigo.

But lets see how it pans out. At least they've found something!!

Thanks,

ST

[miamigo] 30/6/2005 07:58

£294K in cash.

Not much to finance any resource projects that might come its way.

Must be a cash call sooner or later.

[miamigo] 30/6/2005 07:55

Another "Jam Tomorrow" final results RNS :


Capricorn Resources PLC
30 June 2005

Capricorn Resources plc



Results for the year ended 31 December 2004



Chairman's statement



The year ended 31st December 2004 was again spent filtering through resource
projects that your Board felt matched its investment criteria and would enhance
shareholder value. We examined a range of projects and held discussions
concerning a number of interesting opportunities, but in the end none was deemed
suitable.



We remain committed to locating projects that will enhance shareholder value but
are conscious that these deals need to be of a certain standard and which will
significantly benefit the Company and its investors.



Encouragingly, there have been developments since the year end. On 7th February
2005, the Company reported that it was in discussions that may or may not lead
to an acquisition. In line with this, I am pleased to announce that we are
currently in the process of evaluating a deal and hope to be in a position
shortly to send out to shareholders a proposal regarding the deal and to update
the market accordingly.



For the period ending 31 December 2004 we are reporting a pre and post tax loss
of £175,111 and no dividend is to be paid. We have kept expenditure to a
minimum and our cash position remains healthy at £294,263.







Philippe Edmonds

Chairman





Profit and loss account for the year ended 31 December 2004


Notes Year Period
ended ended
31 December 31 December
2004 2003
£ £

TURNOVER - -

Operating expenses (175,594) (153,073)

OPERATING LOSS (175,594) (153,073)

Interest receivable 483 1,626

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION (175,111) (151,447)

Taxation - -

LOSS ON ORDINARY ACTIVITIES AFTER TAXATION (175,111) (151,447)


LOSS PER ORDINARY SHARE

Basic and diluted 3 (0.27p) (0.32p)








The operating loss for the year arises from the Company's continuing operations.



No separate statement of Total Recognised Gains and Losses has been presented as
all such gains and losses have been dealt with in the profit and loss account.





Balance sheet at 31 December 2004


2004 2003
£ £

FIXED ASSETS
Tangible assets 3,158 3,936


CURRENT ASSETS
Debtors 26,368 26,105
Cash at bank and in hand 294,263 412,607
320,631 438,712

CREDITORS: Amounts falling due within one year (46,033) (75,982)

NET CURRENT ASSETS 274,598 362,730

TOTAL ASSETS LESS CURRENT LIABILITIES 277,756 366,666

CAPITAL AND RESERVES
Called up share capital 65,449 62,800
Share premium account 480,614 395,413
Other reserves 58,251 59,900
Profit and loss account (326,558) (151,447)

SHAREHOLDERS' FUNDS 277,756 366,666



Cash flow statement for the year ended 31 December 2004


Notes Year Period
ended ended
31 December 31 December
2004 2003
£ £

Cash outflow from operating activities 4a (204,108) (102,957)

Returns on investments and servicing of finance 4b 483 1,626

Capital expenditure and financial investment 4b (920) (4,175)

CASH OUTFLOW BEFORE FINANCING (204,545) (105,506)

Financing 4b 86,201 518,113

(DECREASE)/INCREASE IN CASH IN THE PERIOD (118,344) 412,607




RECONCILIATION OF NET CASH FLOW TO MOVEMENT IN NET FUNDS

Year Period
ended ended
31 December 31 December
2004 2003
£ £

(Decrease)/increase in cash in the period (118,344) 412,607

NET FUNDS AT 1 JANUARY 2004 412,607 -

NET FUNDS AT 31 DECEMBER 2004 4c 294,263 412,607





Notes to the accounts


1. Financial information



The financial information for the year ended 31 December 2004 have been
extracted from the Company's audited accounts which have not yet been filed with
the UK Registrar of Companies. The Financial Information does not constitute the
Company's statutory financial statements within the meaning of S240 of the
Companies Act 1985.. . The comparative results for the year ended 31 December
2003 are an abridged version of the audited financial statements which have been
filed with the UK Registrar of Companies.



2. Basis of preparation



The financial statements have been prepared under the historical cost convention
and in accordance with applicable accounting standards.



The principal accounting policies of the company have remained unchanged from
the previous year.



3. Loss per share


The calculation of basic and diluted loss per ordinary share is based on the following losses and number of
shares.
5 December
Year to 2002 to
31 December 31 December
2004 2003

£ £

Loss for the financial period (175,111) (151,447)

2004 2003
No. of shares No. of shares

Weighted average number of shares 64,855,150 47,186,572



Due to the loss incurred in the year, there is no dilutive effect from the issue of share options and
warrants.



4. Cash flows
2004 2003
£ £
a Reconciliation of operating loss to net cash outflow from operating activities
Operating loss (175,594) (153,073)
Depreciation 1,698 239
Increase in debtors (263) (26,105)
(Decrease)/increase in creditors (29,949) 75,982

Net cash outflow from operating activities (204,108) (102,957)


b Analysis of cash flows for headings netted in the cash flow 2004 2003
£ £
Returns on investments and servicing of finance
Interest received 483 1,626

Net cash inflow from returns on investments and servicing of finance 483 1,626

Capital expenditure and financial investment
Purchase of tangible fixed assets (920) (4,175)

Net cash outflow from capital expenditure and financial investment (920) (4,175)


Proceeds from issue of share capital 86,491 565,500
Share issue costs (290) (47,387)

Net cash inflow from financing 86,201 518,113




At 1 At 31 December
January Cash- 2004
c Analysis of net funds 2004 flow £
£ £

Cash at bank and in hand 412,607 (118,344) 294,263


5. Availability of accounts



Copies of the audited financial statements are being posted to shareholders on
30 June 2005 and will be available at 18 Upper Brook Street, London W1K 7PU
until 31 July 2005.


This information is provided by RNS
The company news service from the London Stock Exchange

[eicom 12p] 24/6/2005 16:07

nice buy and it will tick up

[eicom in profit] 23/6/2005 08:38

they have pulled off a very interesting acquisition...7p target is on

[miamigo] 22/6/2005 09:56

Looks like a half hearted attempt to run the price up to results.
Don't look like too many are tempted to take the plunge.

[shortermer1] 22/6/2005 09:46

LoL - if only!!

Looking back at the trades there not that much really. Only a 100k buy at 3.35p a few days ago. Maybe the buys will start now slowly but surely!

Thanks,

ST

[eicom 12p] 22/6/2005 09:19

this share is heading up and up until i say stop

[shortermer1] 22/6/2005 09:16

Are results meant to be within 2 weeks?

Up slightly, delayed buy to show up later perhaps??

Thanks,

ST

[r33skyline] 20/6/2005 16:58

Well nothing like preparing for the rush ...LOL

[miamigo] 20/6/2005 16:49

Hmmm... no buys shown today, but up 7%.

have the mms heard of news coming- or are they gearing up for a load of buying upto results?

LOL