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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Longships | LSE:LONG | London | Ordinary Share | GB00B2PKZ581 | ORD 1P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 8.25 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From May 2019 to May 2024
TIDMLONG
RNS Number : 1582J
Longships PLC
12 July 2013
12 July 2013
LONGSHIPS PLC
("Longships" or "the Company")
INTERIM REPORT AND UNAUDITED CONDENSED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED
30 JUNE 2013
Longships plc (AIM:LONG), is pleased to announce its interim results for the six months ended 30 June 2013. The results are available on the Company's website, www.longshipsplc.com .
Enquiries:
Longships PLC +44 20 7269 7680 Nathan Steinberg, Director Grant Thornton UK LLP (Nominated Adviser) +44 20 7383 5100 Colin Aaronson/David Hignell
CHAIRMAN'S STATEMENT
Dear Shareholder,
I present the Chairman's report for the six month interim period ending 30 June 2013. During the period under review the Company reported a net loss of GBP74,329 (six months ended 30 June 2012: GBP67,944) and as at 30 June 2013 had liquid cash balances of GBP2,008,198 (30 June 2012: GBP2,957,069).
The company continues to investigate potential candidates for a suitable reverse takeover and is hopeful that a transaction will be consummated during the current financial period.
Malcolm Burne
Chairman
12 July 2013
CONDENDSED STATEMENT OF COMPREHENSIVE INCOME
FOR THE SIX MONTHS ENDED 30th JUNE 2013
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Six months Six months Year
to 30/06/13 to 30/06/12 to 31/12/12
Unaudited Unaudited Audited
GBP GBP GBP
NET TRADING INCOME - - -
--------------- --------------- ---------------
Other operating expenses (77,968) (72,996) (207,445)
------------------ ------------------ ---------------
Total operating expenses (77,968) (104,211) (207,445)
------------------- ------------------- ---------------
OPERATING LOSS (77,968) (104,211) (207,445)
Finance income 3,639 5,052 7,120
------------------ ------------------ ---------------
LOSS BEFORE TAXATION (74,329) (67,944) (200,325)
Taxation - - -
------------------ ------------------ ---------------
LOSS FOR THE PERIOD ATTRIBUTABLE TO EQUITY
HOLDERS OF THE COMPANY (74,329) (97,241) (200,325)
============ ============ ============
Loss per share (pence) - basic and
fully diluted (0.29)p (0.42)p (0.82)p
======= ======= =======
CONDENSED STATEMENT OF FINANCIAL POSITION AS AT 30th JUNE 2013
As at As at As at
30/06/13 30/06/12 31/12/12
Unaudited Unaudited Audited
GBP GBP GBP
CURRENT ASSETS
Trade and other receivables 15,123 8,883 7,189
Cash and cash equivalents 2,008,198 2,957,069 1,329,599
------------------ ------------------ ------------------
2,023,321 2,965,952 1,336,788
CURRENT LIABILITIES
Trade and other payables (13,730) (33,432) (21,468)
----------------- ----------------- ------------------
NET CURRENT ASSETS 2,009,591 2,932,520 1,315,320
---------------- ---------------- ------------------
NET ASSETS 2,009,591 2,932,520 1,315,320
=========== =========== ===========
EQUITY ATTRIBUTABLE TO EQUITY
HOLDERS OF THE COMPANY
Share capital 998,801 230,800 680,801
Share premium account 1,679,568 3,086,962 1,228,968
Share based payment reserve 21,588 21,588 21,588
Retained earnings (690,366) (406,830) (616,037)
---------------- ---------------- ----------------
TOTAL EQUITY 2,009,591 2,932,520 1,315,320
=========== =========== ===========
Net assets per share - basic 2.58p 13.33p 1.93p
======== ======== ========
CONDENSED CASH FLOW STATEMENT
FOR THE SIX MONTHS ENDED 30th JUNE 2013
Six months Six months Year
to 30/06/13 to 30/06/12 to 31/12/12
Unaudited Unaudited Audited
GBP GBP GBP
Net cash
outflow
from
operating
activities 3 (93,641) (66,208) (2,518,933)
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Cash flows
from
investing
activities
Interest
received 3,639 5,052 7,120
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Cash flows
from
financing
activities
Net proceeds
from issue
of share
capital 768,600 - 900,013
Costs of
redemption
of B shares - - (76,826)
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Net
(decrease)
in cash and
cash
equivalents 678,598 (61,156) (1,688,626)
Cash and
cash
equivalents
at
beginning
of period 1,329,599 3,018,225 3,018,225
--------------------------------------------------- --------------------------------------------------- ---------------------------------------------------
Cash and
cash
equivalents
at end of
period 2,008,198 2,957,069 1,329,599
=================================================== =================================================== ===================================================
CONDENSED STATEMENT OF CHANGES IN NET EQUITY
FOR THE SIX MONTHS ENDED 30th JUNE 2013
NOTES TO THE CONDENSED FINANCIAL STATEMENTS
FOR THE SIX MONTHS ENDED 30th JUNE 2013
1. GENERAL
The interim financial statements for the six months ended 30th June 2013 are unaudited and were approved by the Directors of the Company on 12 July 2013. The condensed financial information set out above does not constitute statutory accounts within the meaning of Section 434 of the Companies Act 2006. The information given as comparative figures for the period ended 31st December 2012 was extracted from the Company's audited annual financial statements for that financial year. Those financial statements, which represent the statutory accounts for that year, and on which the auditors gave an unqualified opinion, have been filed with the Registrar of Companies.
The financial information has been prepared in accordance with IAS 34 "Interim Financial Reporting".
The Company's operations are not subject to seasonality or cyclicality.
2. ACCOUNTING POLICIES
The principal accounting policies and methods of computation have remained unchanged from those used in the preparation of the Company's 2012 annual financial statements.
3. CASH FLOWS FROM OPERATING ACTIVITIES
Six months Six months Year
to 30/06/13 to 30/06/12 to 31/12/12
Unaudited Unaudited Audited
GBP GBP GBP
Loss before taxation (74,329) (67,944) (200,325)
Adjustments for:
Interest income (3,639) (5,052) (7,120)
Loss on disposal of financial assets at
fair value through profit or loss - - 4
------------------- ------------------- --------------------
(77,968) (72,996) (207,441)
Decrease/(increase) in receivables (7,935) (1,828) (134)
Increase/(decrease) in payables (7,738) 8,616 (3,348)
Purchase of financial assets at fair value
through profit or loss - - (2,308,010)
-------------------- -------------------- --------------------
Net cash from operating activities (93,641) (66,208) (2,518,933)
============= ============= =============
4. LOSS PER SHARE
Six months Six months Year
to 30/06/13 to 30/06/12 to 31/12/12
Unaudited Unaudited Audited
Weighted average
number of
ordinary
shares in issue 77,743,083 23,080,002 24,432,508
--------------------------------------- ---------------------------------------- -----------------------------------------
(Loss)/profit
after taxation (74,329) (67,944) (200,325)
---------------------------------------- ---------------------------------------- -----------------------------------------
(Loss)/earnings
per share (0.10)p (0.29)p (0.82)p
=================================================== =================================================== ==================================================
Due to there being a loss during each period under review, the share options are anti-dilutive and therefore no diluted loss per share has been presented.
5. NET ASSET VALUE PER SHARE
The "basic" net asset value per share figures are calculated on the basis of the net assets attributable to equity shareholders divided by the number of ordinary shares in issue at the relevant dates.
As the exercise price of the share options is above the "basic" net asset value per share the share options are anti-dilutive and therefore a "fully diluted" net assets per share has not been calculated.
Copies of the interim report are available to the public free of charge from the Company at 2nd Floor, 18 Pall Mall, London, SW1Y 5LU during normal office hours, Saturdays and Sundays excepted, for 14 days from today and are available on the website at www.longshipsplc.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR UAOVROVABAAR
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