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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Mercer Resources | LSE:MCR | London | Ordinary Share | GB00BBNBM331 | 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% | 0.65 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
for the Six Months to 30 June 2014
6 Months 6 Months Year ended to 30 June to 30 June 31 December 2014 2013 2013 GBP'000 GBP'000 GBP'000 Loss before taxation (87) (14) (674) Loss/(profit) on principal trading - (65) 3 Discontinued Operations - 11 - Loss on disposal of subsidiary undertakings - - 485 Share based payments 1 - 1 Finance costs - - Decrease/(increase) in receivables 4 17 12 Increase/(decrease) in payables (4) (3) (23) Cash outflow from operations (86) (54) (196) Interest paid - - - ------------ ------------ ------------- Net cash outflow from operating activities (86) (54) (196) ------------ ------------ ------------- Investing activities Purchase of investment securities - - (34) --------------------------------------------- ------------ ------------ ------------- Net cash outflow used in investing activities from continuing operations - - (34) --------------------------------------------- ------------ ------------ ------------- Financing activities Repayment of Borrowings - - (53) Proceeds from borrowing 90 107 - Issue of share Capital 103 - 351 Net cash flow generated from financing activities from continuing activities 193 107 298 ------------ ------------ ------------- Net increase/ (reduction) in cash and cash equivalents 107 53 68 Cash and cash equivalents at beginning of period 68 (53) - Cash and cash equivalents at end of period 175 0 68 ------------ ------------ -------------
Accounting Policies
Interim Accounts for the Six Months to 30 June 2013
1. Basis of preparation and accounting policies
These condensed interim statements have been prepared in accordance with IAS34, 'Interim Financial Reporting', as adopted by the European Union on a basis consistent with International Financial Reporting Standards (IFRS). They do not contain all of the information required for full financial statements and should be read in conjunction with the consolidated financial statements of the Group as at and for the year ended 31 December 2010. These interim financial statements do not constitute statutory accounts within the meaning of the Companies Act.
The interim financial information is not audited. The interim financial information was approved by the Board of Directors on 29 September 2009. The information for the year ended 31 December 2013 is extracted from the statutory financial statements for that year which have been reported on by the Group's auditors and delivered to the Registrar of Companies. The audit report was unqualified.
The accounting policies applied by the Group in these interim financial statements are the same as those applied by the Group in its consolidated financial statements for the year ended and as at 31 December 2013.
2. Earnings per share
Six months Six months Year ended to 30 June to 30 June 31 December 2014 2013 2013 GBP'000 GBP'000 GBP'000 Loss attributable to equity holders of the parent: Loss from continuing operations (87) (25) (674) Profit / (loss) from discontinued - 11 - operations ------------ ------------ ------------- Loss for the purpose of basic and diluted loss per share (87) (14) (674) ------------ ------------ ------------- Number of shares: Weighted average number of shares in issue during the period 81,806,871 7,425,449 33,918,740 Basic and diluted earnings per share : Loss per share from continuing operations (0.001)p (0.003)p (1.99)p Profit/(loss) per share from - 0.001p - discontinued operations Total loss per share for the period (0.001)p (0.020)p (1.99)p ------------ ------------ -------------
4. Related party transactions
The company has entered into an agreement with Stanhill Capital Partners (Holdings) Limited ("Stanhill") for the provision of general management, accounting, office facilities and company secretarial services at an annual cost of GBP42,000. Stanhill is part of the same group as Stanhill Special Situations Fund Limited, which owns 12.27% of the issued share capital of the Company. Trevor Wells is a director of the Company and is the legal and compliance Director of Stanhill.
5. Management
Key management are those persons having authority and responsibility for planning, controlling and directing the activities of the Company. In the opinion of the Board, the Company's key management are the Directors of the Company. Information regarding their compensation is given below in aggregate for each of the categories specified in IAS 24 Related Party Disclosures:
6 months 6 months Year to 30 to 30 Ended June June 31 Dec 2013 2012 2012 GBP'000 GBP'000 GBP'000 Short-term employee benefits 9 32 36 9 32 36 ========= ========= =========
6. Ultimate controlling party
The Directors do not consider there to be a single ultimate controlling party.
7. Directors' responsibility statement
The interim report is the responsibility of, and has been, approved by the Directors. The Directors are responsible for preparing the interim financial statements in accordance with the AIM Rules for Companies.
This information is provided by RNS
The company news service from the London Stock Exchange
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