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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Dimension Res.S | LSE:DMR | London | Ordinary Share | BMG276151062 | ORD 0.1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.40 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1972Z Dimension Resources Ld 28 June 2007 Dimension Resources Limited Results for the year ended 31 December 2006 Chairman's Statement I regret that progress has once more been slow in transforming your company into a profitable entity. I reported to you last year that, following the cessation of its own stone processing activities, the Company's quarries were being operated by a contractor. This remains the position but the income from contract quarrying has fallen short of the level proposed when the contract was entered into. Under these circumstances it has been decided that the residual assets in South Africa should be reduced in value to #100,000. In the event, realisation of the assets by the administrator appointed by the Company has taken longer than anticipated, primarily due to negotiations with creditors. Rather than being sold, and the administrator is receiving a royalty on sales. A small amount of cash has now been remitted back to the United Kingdom, and it is hoped that further remittances will be possible in the near future. In this context, I wish to thank our professional advisers for their understanding through a difficult period. The loss for the year is #46,000, representing the minimum costs of maintaining the listing on AIM. As for 2005, the financial statements have been drawn up for the Company only. Since 31 December 2006 Jonathan Morley-Kirk has joined the board. Among his other activities, he is currently chairman of Fox Davies Capital, the London based stockbroker specialising in the natural resource sector, oil and gas, bio energy and emerging markets. The Directors continue to consider new projects to be injected into the Company. When a suitable project is identified it is likely that the acquisition will constitute a reverse acquisition and will require a new Admission Document and shareholder approval. Brian Moritz (Chairman) 26 June 2007 DIMENSION RESOURCES LIMITED Income statement for the year ended 31 December 2006 2006 2005 GBP GBP Turnover - - Cost of sales - - Gross profit - - Administrative expenses (46,095) (43,042) Operating loss (46,095) (43,042) Interest receivable and similar income 35 38 Interest payable and similar charges - - Net loss before taxation (46,060) (43,004) Taxation - - Net loss for the year (46,060) (43,004) DIMENSION RESOURCES LIMITED Balance sheet at 31 December 2006 2006 2005 GBP GBP ASSETS Non-current assets 91,986 400,000 Investments 91,986 400,000 Current assets 3,794 3,849 Trade and other receivables 1,085 1,000 Cash at bank and in hand 2,709 2,849 Total assets 95,779 403,849 EQUITY AND LIABILITIES Shareholders' funds (27,038) 319,022 Called up share capital 6,799,000 6,799,000 Share premium account 11,932,457 11,932,457 Revaluation of investments (300,000) - - Profit and loss account (18,458,495) (18,412,435) Current liabilities 122,817 84,827 Trade and other payables 122,817 84,827 Total equity and liabilities 95,779 403,849 DIMENSION RESOURCES LIMITED Cash flow statement for the year ended 31 December 2006 2006 2005 GBP GBP CASH FLOWS FROM OPERATING ACTIVITIES (8,155) (4,610) Cash absorbed by operations (8,190) (4,648) Interest received 35 38 CASH FLOWS FROM INVESTING ACTIVITIES 8,015 - Loans to/from subsidiary companies 8,015 - NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS (140) (4,610) Cash and cash equivalents at the beginning of the year 2,849 7,459 Cash and cash equivalents at the end of year 2,709 2,849 NOTES 1. The financial information set out above does not constitute the Company's statutory financial statements for the year ended 31 December 2006, but is derived from those statements. The auditors have reported on the financial statements to 31 December 2006 and their report was unqualified. 2. No dividend is proposed for the year. 3. The Company's annual report and accounts for the year ended 31 December 2006 will be posted to shareholders by 28 June 2007. Copies will be available at the offices of HB-corporate, 40 Marsh Wall, London, E14 9TP. 4. The Annual General Meeting of the Company will be held at 40 Marsh Wall, London E14 9TP on Tuesday 31 July 2007 at 3.00 p.m. For further information please contact: Brian Moritz, Dimension Resources Limited (tel: 07976 994300) Gerry Beaney/Colin Aaronson, Grant Thornton Corporate Finance (Nominated Adviser) (tel: 020 7383 5100) This information is provided by RNS The company news service from the London Stock Exchange END FR OKFKPCBKKNAB
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