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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Polemos | LSE:PLMO | London | Ordinary Share | GB00BZ1MJW42 | 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% | 0.70 | 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
TIDMPLMO
RNS Number : 0841L
Polemos PLC
28 September 2016
For immediate release 28 September 2016
Polemos plc
("Polemos" or the "Company")
Unaudited interim results for the six months ended 30 June 2016
The Board of Polemos announces the unaudited interim results for the six months ended 30 June 2016.
The interim results appear below and a copy will shortly be made available on the Company's website http://www.polemos.co.uk/.
For further information, please contact:
Polemos plc +44 (0)20 7440 Hamish Harris/Jason Berry 0640 Beaumont Cornish Limited (Nominated Adviser and Broker) James Biddle +44 (0)20 7628 Michael Cornish 3396 Peterhouse Corporate Finance (Joint Broker) +44 (0)20 7469 Duncan Vasey/Lucy Williams 0930
Chairman's statement
The Board continues to evaluate new investment opportunities as they arise. In the short term, the Company has investments in listed securities with, what the Board believes to be, high levels of liquidity within the natural resources sector.
The Company continues to review a number of potential new investment opportunities in accordance with its investing policy and further announcements will be made in due course as appropriate. 637.5 million new shares were placed during the period at 0.04p to raise GBP255,000 to assist the board in securing new investments.
Financial Results
During the period, the Company made a loss before taxation from continuing operations of GBP63,000 (6 months ended 30 June 2015: loss GBP38,000). There was a weighted loss per share from continuing operations of 0.005p (6 months ended 30 June 2015: loss per share of 0.01p).
Cash and cash equivalents at 30 June 2016 amounted to GBP295,000 (30 June 2015: GBP263,000).
Outlook
Your Board is continuing to review a number of other investment opportunities in accordance with its investing policy and further announcements will be made as appropriate.
Hamish Harris
Chairman
28 September 2016
Unaudited Condensed Company Statement of Comprehensive Income
for the six months ended 30 June 2016
Hot Features
Premium
Six months ended Six months ended
30 June 2016 30 June 2015 Year ended
31 December 2015
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
Revenue - - -
Administrative expenses (63) (38) (149)
Investment Income - - -
---------------- ---------------- -----------------
Operating loss (63) (38) (149)
Finance income - - -
---------------- ---------------- -----------------
Loss before taxation (63) (38) (149)
Taxation - - -
---------------- ---------------- -----------------
(Loss) for the period attributable to equity holders of the
parent (63) (38) (149)
Other Comprehensive Income:
Other comprehensive income
Items that may be subsequently reclassified to profit or
loss:
Transfers to income statement -
Increase/(decrease) in value of available for sale asset 22 (17) (66)
---------------- ---------------- -----------------
Total other comprehensive income 22 (17) (66)
Total comprehensive income for the period attributable to
equity holders of the company (41) (55) (215)
---------------- ---------------- -----------------
Loss per share
Earnings per share - basic and diluted (pence) (0.005) (0.01) (0.02)
Unaudited Condensed Company Statement of Financial Position
as at 30 June 2016
As at As at As at
30 June 2016 Unaudited 30 June 2015 Unaudited 31 December 2015 Audited
GBP'000 GBP'000 GBP'000
Non-current assets
Available-for-sale financial assets 77 100 51
Total non-current assets 77 100 51
----------------------- ----------------------- -------------------------
Current assets
Trade and other receivables 25 13 13
Cash and bank balances 295 263 207
Total current assets 320 276 220
----------------------- ----------------------- -------------------------
Total assets 397 376 271
----------------------- ----------------------- -------------------------
Current liabilities
Trade and other payables (17) (42) (97)
Total current liabilities (17) (42) (97)
----------------------- ----------------------- -------------------------
Net current assets 303 234 123
----------------------- ----------------------- -------------------------
Net assets 380 334 174
----------------------- ----------------------- -------------------------
Equity
Share capital 19,459 19,395 19,395
Share premium account 18,624 18,441 18,441
Share based payment reserve 63 63 63
Available-for-sale asset reserve (233) (206) (255)
Retained deficit (37,533) (37,359) (37,470)
Equity attributable to equity holders
of the parent 380 334 174
----------------------- ----------------------- -------------------------
Unaudited Condensed Company Statement of Cash Flows
for the six months ended 30 June 2016.
Six months ended 30 June 2016 Six months ended 30 June 2015 Year ended
Unaudited Unaudited 31 December 2015 Audited
GBP'000 GBP'000 GBP'000
Net (loss) from operating
activities (63) (38) (149)
(Increase)/decrease in trade
and other receivables (12) (9) (9)
(Decrease)/increase in trade
and other payables (80) (32) 23
Net cash (outflow) from
operating activities (155) (79) (135)
----------------------------- ----------------------------- -------------------------
Investing activities
Purchase of available for
sale financial assets (4) - -
Proceeds from disposal of -
available-for-sale financial
assets - -
Net cash inflow from
investing activities (4) - -
----------------------------- ----------------------------- -------------------------
Financing activities
Issue of share capital 256 - -
Issue costs (9) - -
----------------------------- ----------------------------- -------------------------
Net cash inflow from
Financing activities 247 - -
Net (decrease)/increase in
cash and cash equivalents 88 (79) (135)
----------------------------- ----------------------------- -------------------------
Cash and cash equivalents at
beginning of period 207 342 342
Cash and cash equivalents at
end of period 295 263 207
----------------------------- ----------------------------- -------------------------
Unaudited Condensed Company Statement of Changes in Equity
for the six months ended 30 June 2016.
Share Share Share based payment Available for sale Retained earnings Total
capital premium reserve asset reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
At 31 December 2014 19,395 18,441 63 (189) (37,321) 389
========= ========= ===================== ==================== ================== ========
Shares issued - - - - - -
Share issue costs - - - - - -
Total contributions - - - - - -
by and distributions
to owners of the
Company
Comprehensive Income - - - - - -
for the year
Decrease in value of
available for sale
assets - - - (66) - (66)
Loss for the year - - - - (149) (149)
--------- --------- --------------------- -------------------- ------------------ --------
Total Comprehensive
Income for the Year - - - (66) (149) (215)
--------- --------- --------------------- -------------------- ------------------ --------
At 31 December 2015 19,395 18,441 63 (255) (37,470) 174
========= ========= ===================== ==================== ================== ========
Shares issued 64 192 - - - 256
Share issue costs - (9) - - - (9)
Total contributions
by and
distributions to
owners of the
Company 64 183 - - - 247
Comprehensive Income
for the year
Increase in value of
available for sale
assets - - - 22 - 22
Loss for the year - - - - (62) (62)
--------- --------- --------------------- -------------------- ------------------ --------
Total Comprehensive
Income for the Year 22 (62) (40)
--------- --------- --------------------- -------------------- ------------------ --------
At 30 June 2016 19,459 18,624 63 (233) (37,532) 381
========= ========= ===================== ==================== ================== ========
Notes to the Unaudited Condensed Company Financial Statements
for the six months ended 30 June 2016
1. General Information
The condensed financial information for the 6 months to 30 June 2016 does not constitute statutory accounts for the purposes of Section 434 of the Companies Act 2006 and has not been audited or reviewed. No statutory accounts for the period have been delivered to the Registrar of Companies.
The condensed financial information in respect of the year ended 31 December 2015 has been produced using extracts from the statutory accounts for that period. Consequently, this does not constitute the statutory information (as defined in section 434 of the Companies Act 2006) for the year ended 31 December 2015, which was audited. The statutory accounts for this period have been filed with the Registrar of Companies. The auditors' report was unqualified and did not contain a statement under Sections 498 (2) or 498 (3) of the Companies Act 2006.
The Report was approved by the Directors on 22 September 2016 and will be available shortly on the Company's website at www.polemos.co.uk.
Basis of preparation
The financial information has been prepared on the historical cost basis. The Company's business activities, together with the factors likely to affect its future development, performance and position are set out in the Chairman's Statement. This statement also includes a summary of the Company's financial position and its cash flows.
Basis of accounting
These condensed interim financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS) as adopted by the European Union with the exception of International Accounting Standard ('IAS') 34 - Interim Financial Reporting. Accordingly the interim financial statements do not include all of the information or disclosures required in the annual financial statements and should be read in conjunction with the Company's 2015 annual financial statements.
2. Loss per share
Basic earnings per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the period. In accordance with IAS 33, as the Company has reported a loss for the period, diluted earnings per share are not included. A reconciliation is set out below:
Basic and diluted loss per share is calculated on the loss of the Company attributable to equity holders of the parent.
6 months to 6 months to Year ended
30 June 30 June
2015 2015 31 December 2015
Unaudited Unaudited Audited
GBP'000 GBP'000 GBP'000
(Loss) attributable to equity holders of the Company (63) (38) (149)
Number of Shares 000's 000's 000's
Weighted average number of ordinary shares (thousands) 1,246,385 886,907 886,907
(Loss) per share - basic and diluted (0.005p) (0.01p) (0.02p)
-------------------------------------------------------- ------------ ------------ -----------------
3. Events after the end of the reporting period
There are no events after the end of the reporting period to report.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR DMGZLGRZGVZM
(END) Dow Jones Newswires
September 28, 2016 06:45 ET (10:45 GMT)
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