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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Red Leopard | LSE:RLH | London | Ordinary Share | GB00B4JXWP66 | 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% | 0.235 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
From Apr 2019 to Apr 2024
TIDMRLH
RNS Number : 1318L
Red Leopard Holdings PLC
29 September 2016
RED LEOPARD HOLDINGS PLC
Interim Accounts for Red Leopard Holdings Plc ("Red Leopard", the "Company" or the "Group")
for the six months ended 30(th) June 2016
Red Leopard is pleased to announce its unaudited interim results for the six months ended 30(th) June 2016.
As summarised in the Chairman's statement of our financial statements for the year ended 31(st) December 2015, which were announced on 29(th) June 2016, the market for junior mining companies, though showing some signs of recovery, remains challenging. Despite silver prices being on an upward trend and currently showing a spot price of US$19 an ounce, management believe the market is not yet robust enough to allow us to raise sufficient funds to accelerate the works needed at the Idora Tunnel.
Consequently, the Company is looking to acquire other complimentary assets which can give more critical mass to its operations, which should enable it to attract the necessary funding required.
The Company continues to consider all opportunities and financing options to enhance shareholder value and management look forward to providing shareholders with further updates in due course.
J J May
Chairman
A copy of the interim results will be available on the Company's website www.redleopardholdings.com
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) 596/2014.
For further information, please contact:
John May, Red Leopard Holdings Plc, Tel: 0207 917 6826
Gerry Beaney/David Hignell, Northland Capital Partners Limited, Tel: 0203 861 6625
Jon Belliss, Beaufort Securities Limited, Tel: 0207 382 8300
Consolidated statement of comprehensive income
Hot Features
Premium
(Unaudited) (Unaudited) Audited
6 months 6 months Year to 31
to to
30 June 30 June December
Note 2016 2015 2015
GBP GBP GBP
Other operating income - - -
Cost of sales - - (17,412)
----------- ----------- -----------
Gross loss - - (17,412)
Administrative expenses (96,348) (113,739) (213,017)
----------- ----------- -----------
Operating loss (96,348) (113,739) (230,429)
Finance income 7 - 5
Finance cost (182) (242) (497)
----------- ----------- -----------
Loss from continuing activities
before taxation (96,523) (113,981) (230,921)
Tax expense - - -
Loss for the period attributable
to the equity holders of the parent (96,523) (113,981) (230,921)
=========== =========== ===========
Loss per share - basic 3 (0.02) (0.04) (0.06)
Loss per share - diluted (0.02) (0.04) (0.06)
Consolidated statement of financial position
(Unaudited) (Unaudited) Audited
30 June 30 June 31 December
Notes 2016 2015 2015
GBP GBP GBP
Non-current assets
Intangible assets 4 466,434 466,434 466,434
----------- ----------- ------------
466,434 466,434 466,434
Current assets
Trade and other receivables 5 29,601 26,303 23,958
Cash and cash equivalents 10,608 477 35,990
----------- ----------- ------------
Total current assets 40,209 26,780 59,948
Total assets 506,643 493,214 526,382
=========== =========== ============
Equity
Share capital 8 1,862,125 1,535,667 1,862,125
Share premium account 3,999,694 4,017,194 3,999,694
Share based payment reserve 60,002 60,002 60,002
Retained earnings (5,611,412) (5,396,231) (5,514,889)
----------- ----------- ------------
Total equity 310,409 216,632 406,932
=========== =========== ============
Current liabilities
Trade and other payables 6,7 196,234 276,582 119,450
----------- ----------- ------------
Total current liabilities 196,234 276,582 119,450
----------- ----------- ------------
Total liabilities 196,234 276,582 119,450
----------- ----------- ------------
Total equity and liabilities 506,643 493,214 526,382
=========== =========== ============
Consolidated statement of changes in equity
Share Share Share Retained Total
capital premium based earnings equity
account payment
reserve
Unaudited GBP GBP GBP GBP GBP
At 1 January 2016 1,862,125 3,999,694 60,002 (5,514,889) 406,932
Loss for the period - - - (96,523) (96,523)
--------- --------- -------- ----------- --------
Total comprehensive income 1,862,125 3,999,694 60,002 (5,611,412) 310,409
--------- --------- -------- ----------- --------
Transactions with owners:
Equity component of compound
instrument - - - - -
--------- --------- -------- ----------- --------
Issue of share capital - - - - -
--------- --------- -------- ----------- --------
Total transactions with
owners - - - - -
--------- --------- -------- ----------- --------
Balance at 30 June 2016 1,862,125 3,999,694 60,002 (5,611,412) 310,409
--------- --------- -------- ----------- --------
Share Share Share Retained Total
capital premium based earnings equity
account payment
reserve
Unaudited GBP GBP GBP GBP GBP
At 1 January 2015 1,535,667 4,017,194 60,002 (5,282,250) 330,613
Loss for the period - - - (113,981) (113,981)
--------- --------- -------- ----------- ---------
Total comprehensive income 1,535,667 4,017,194 60,002 (5,396,231) 216,632
Transactions with owners:
--------- --------- -------- ----------- ---------
Equity component of compound
instrument - - - - -
--------- --------- -------- ----------- ---------
Issue of share capital - - - - -
--------- --------- -------- ----------- ---------
Total transactions with
owners - - - - -
--------- --------- -------- ----------- ---------
Balance at 30 June 2015 1,535,667 4,017,194 60,002 (5,396,231) 216,632
Share Share Share Retained Total
capital premium based earnings equity
account payment
reserve
Audited GBP GBP GBP GBP GBP
At 1 January 2015 1,535,667 4,017,194 60,002 (5,282,250) 330,613
Loss for the period - - - (230,921) (230,921)
--------- --------- -------- ----------- ---------
Total comprehensive income 1,535,667 4,017,194 60,002 (5,513,171) 99,692
--------- --------- -------- ----------- ---------
Transactions with owners:
Equity component of compound
instrument - - - (1,718) (1,718)
--------- --------- -------- ----------- ---------
Issue of share capital 326,458 (17,500) - - 308,958
--------- --------- -------- ----------- ---------
Total transactions with
owners 326,458 (17,500) - (1,718) 307,240
--------- --------- -------- ----------- ---------
Balance at 31 December
2015 1,862,125 3,999,694 60,002 (5,514,889) 406,932
--------- --------- -------- ----------- ---------
Consolidated statement of cash flows
(Unaudited) (Unaudited) Audited
6 months 6 months Year to
to 30 June to 30 June 31 December
2016 2015 2015
GBP GBP GBP
Cash flows used in operating activities
Operating loss (96,348) (113,739) (230,429)
Adjustments for:
Liabilities extinguished via issue
of loan notes and equity shares - - 151,458
(Increase)/Decrease in trade and
other receivables (5,643) (3,797) (1,451)
Increase/(Decrease) in trade payables 76,784 102,784 (50,067)
------------ ------------ -------------
Net cash flows from operating activities (25,207) (14,752) (130,489)
------------ ------------ -------------
Investing activities
Interest received 7 - 5
Interest paid (182) (242) (497)
Cash flows used in investing activities (175) (242) (492)
Financing activities
Issue of share capital - - 157,500
Repayment of loan notes - - -
Loan received - 6,000 -
Cash flows used in financing activities - 6,000 157,500
Net (decrease) in cash and cash
equivalents (25,382) (8,994) 26,519
Cash and cash equivalents brought
forward 35,990 9,471 9,471
Cash and cash equivalents carried
forward 10,608 477 35,990
============ ============ =============
Notes to the consolidated financial statements
1 Nature of operations and general information
PRINCIPAL ACTIVITY
Red Leopard Holdings plc is focussed on the natural resources sector (both exploration and production), with a particular emphasis on precious mining assets and interests.
BUSINESS REVIEW
Financial overview and performance
Loss for the group before tax for the period was GBP96,523 (2015: GBP113,981).
Strategy
The Company's strategy is to adhere to its investing policy focussed on natural resources. Its primary objective is that of securing for its shareholders the best possible value consistent with achieving, over time, both capital growth and income.
Investing Policy
The investing policy is to pursue investments in the natural recourses sector, and in particular, precious metals.
The Directors are focussed on North and South America, where they believe that a number of opportunities exist to acquire interests in suitable projects, although other regions may also be conisdered. Investments may be made in exploration, development and/or producing assets.
The Directors may consider it appropriate to purchase companies or interests in assets which may result in an equity interest in any proposed investment ranging from a minority position to 100 per cent ownership. Proposed investments may be made in either quoted or unquoted companies and structured as a direct acquisition, joint venture or a direct interest in a project.
Where necessary, the Company may seek participation in the management or with the board of directors of an entity in which the Company invests; or in the event that it is acquired then in the on-going enlarged entity.
New investments will be held for the medium to longer term; although shorter term disposal of any investments cannot be ruled out should such an opportunity present itself.
There is no limit on the number of projects into which the Company may invest, and the Company's financial resources may be invested in a number of propositions or just one, which may be deemed to be a reverse takeover pursuant to Rule 14 of the AIM Rules. Where the Company builds a portfolio of related assets it is possible that there may be cross-holdings between such assets. The Company does not currently intend to fund any investments with debt or other borrowings but may do so if appropriate.
The Directors undertake initial project assessments themselves with additional independent technical advice as required. The Company does not have a separate investment manager.
The Directors may offer new Ordinary Shares by way of consideration as well as cash subject to its availability to the Company. The Company may, in appropriate circumstances, issue debt securities or otherwise borrow money to complete an investment. The Directors do not intend to acquire any cross-holdings in other corporate entities that have an interest in the Ordinary Shares.
Going Concern
To ensure the full development of its assets and to actively pursue its investing policy, the Company will require further funds to finance its work programme. The Directors are negotiating with their advisors and a number of potential investors for the injection of sufficient new capital, via further equity raisings or debt finance, which would provide sufficient funds to allow it to pursue its objectives, however no funding commitments have yet been obtained.
The Directors are confident of being able to raise the necessary funding. In the short term, prior to the completion of a successful fundraise, the Group has limited but immediate working capital requirements which a Shareholder and Director has committed to supporting the company in meeting. The success of a future fundraise has been identified as a material uncertainty which may cast significant doubt over the going concern assessment. Whilst acknowledging this uncertainty, based upon the expectation of completing a successful fundraising in the near future, the Directors consider it appropriate to continue to prepare the financial statements of the Company on a going concern basis. The financial statements do not include the adjustments that would result if the Group and Company were unable to continue as a going concern.
Corporate Information
Red Leopard Holdings plc is the Group's ultimate parent company. It is incorporated and domiciled in Great Britain. The address of Red Leopard Holdings plc's registered office is 50 Jermyn Street, London, SW1Y 6LX. Red Leopard Holdings plc's shares are listed on the Alternative Investment Market of the London Stock Exchange.
2 Basis of preparation
The financial information presented in this half-yearly report constitutes the condensed consolidated financial statements (the interim financial statements) of Red Leopard Holdings plc for the six months ended 30 June 2016.
The interim financial statements should be read in conjunction with the Financial Statements for the year ended 31 December 2015 which have been prepared in accordance with International Financial Reporting Standards as adopted for use in the EU. The financial information in this half yearly report, which has been approved by the Board and authorised for issue is unaudited. The financial information set out in this interim report does not constitute statutory accounts as defined in Section 434 (3) of the Companies Act 2006. The comparative financial information presented herein for the year ended 31 December 2015 has been extracted from the Group's Financial Statements for the year ended 31 December 2015 which have been delivered to the Registrar of Companies.
These financial statements have been prepared under the historical cost convention.
These consolidated interim financial statements have been prepared in accordance with the accounting policies adopted in the last annual financial statements for the year to 31 December 2015.
The accounting policies have been applied consistently throughout the Group for the purposes of preparation of these consolidated interim financial statements. The consolidated financial information includes the accounts of the Company and its subsidiaries, after the elimination of inter-company transactions and balances.
3 Earnings per share
The calculation of the basic loss per share is based on the loss attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year.
The calculation of diluted loss per share is based on the basic loss per share, adjusted to allow for the issue of shares and the post tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.
Reconciliations of the loss and weighted average number of shares used in the calculations are set out below.
Weighted
average number Per share
Loss of shares amount
6 months to 30 June 2016 GBP Pence
Loss attributable to ordinary shareholders 96,523
Weighted average number of shares
(used for basic earnings per share) 586,279,061
Basic loss per share 0.02
=========
6 months to 30 June 2015
Loss attributable to ordinary shareholders 113,981
Weighted average number of shares
(used for basic earnings per share) 259,820,728
Basic loss per share 0.04
====
Year to 31 December 2015
Loss attributable to ordinary shareholders 230,921
Weighted average number of shares
(used for basic earnings per share) 392,192,874
Basic loss per share 0.06
====
For diluted loss per share, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all potential dilutive ordinary shares. Items to be included in the calculation are:
- Options for ordinary shares
- Convertible loan notes for ordinary shares
The effect of conversion of all potential dilutive ordinary shares would have an anti-dilutive effect on loss per share and therefore they have not been incorporated in the diluted loss per share calculation.
4 Intangible assets
Mining Mining
Exploration and Total
development claims
GBP GBP
--------------------- -------------------- --------
Cost:
At 1 January 2015 466,434 466,434
Additions - -
--------------------- -------------------- --------
At 30 June 2015 466,434 466,434
Additions - -
At 31 December 2015 466,434 466,434
Additions - -
At 30 June 2016 466,434 466,434
Net book value:
At 30 June 2016 466,434 466,434
--------------------- -------------------- --------
At 31 December 2015 466,434 466,434
--------------------- -------------------- --------
At 30 June 2015 466,434 466,434
--------------------- -------------------- --------
On 24 September 2013, the Company acquired the entire issued share capital of Red Leopard Mining Inc ("RLM"). There are no assets or liabilities in RLM other than mining claims located in Shoshone County, Idaho, USA, which are recognised as separately identifiable intangible assets in respect of exploration and development rights. The Company pays annual rental fees per claim before 31 August to keep the claims in good standing for the following year.
The Directors assess the asset at each reporting date for indications of impairment. The mining claims have not yet been fully developed; therefore, there are only inferred resources to form a basis for an impairment review. The Directors have determined therefore that no impairment is required.
5 Trade and other receivables
(Unaudited) (Unaudited) Audited
6 months 6 months Year to
to 30 June to 30 June 31 December
2016 2015 2015
GBP GBP GBP
Other receivables 29,601 26,303 23,958
29,601 26,303 23,958
------------ ------------ -------------
6 Trade and other payables
(Unaudited) (Unaudited) Audited
6 months 6 months Year to
to 30 June to 30 June 31 December
2016 2015 2015
GBP GBP GBP
Trade payables 26,380 32,083 1,684
Loans (Note 7) 80,000 112,796 80,000
Accruals and deferred income 89,854 131,703 37,766
------------ ------------ -------------
196,234 276,582 119,450
------------ ------------ -------------
With the exception of directors' salaries, which are being accrued until the group is in a position to pay them, all amounts are short term. The carrying values are considered to be a reasonable approximation to fair value.
7 Borrowings
(Unaudited) (Unaudited) Audited
6 months 6 months Year to
to 30 June to 30 June 31 December
2016 2015 2015
GBP GBP GBP
Short term loans 80,000 94,514 80,000
Convertible loan note - 18,282 -
Loans 80,000 112,796 80,000
------------ ------------ -------------
At the end of the period, the Company had short term loans outstanding amounting to GBP80,000, repayable on demand. The holders have agreed not to call upon any loan notes until sufficient new funds are received that will allow the Company to finance itself going forward and have waived the right to the receipt of the 6% interest above base rate, provided for under the loan agreement. These loans do not carry any conversion options.
8 Share Capital
Shares issued for the period to 30 June 2016 are summarised as follows:
6 months to 30 June 2016
Number GBP
Ordinary shares 0.1 pence 586,279,061 586,278
Deferred shares 0.1 pence 1,275,846,391 1,275,847
---------
At 30 June 2016 1,862,125
---------
6 months to 30 June 2015
Number GBP
Ordinary shares 0.1 pence 259,820,728 259,821
Ordinary shares 0.1 pence 1,275,846,391 1,275,847
---------
At 30 June 2015 1,535,668
---------
Year to 31 December 2015
Number GBP
Ordinary shares 0. 1 pence 586,279,061 586,278
Deferred shares 0. 1 pence 1,275,846,391 1,275,847
---------
At 31 December 2015 1,862,125
---------
In August 2015, the Company raised GBP175,000 before expenses through the placing of 175,000,000 ordinary shares; a loan note conversion of GBP20,000 into 20,000,000 ordinary shares; and a Directors' subscription for a total of 131,458,333 ordinary shares.
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR EVLFLQKFEBBK
(END) Dow Jones Newswires
September 29, 2016 02:00 ET (06:00 GMT)
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