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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Rii | LSE:RIN | London | Ordinary Share | GB0007383234 | 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% | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
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RNS Number:8398G
RII PLC
24 December 2004
RII Plc
Interim Statement
for the six months ended 30 September 2004
For the six month period ended 30 September 2004, your Company sustained an
unaudited pre-tax loss of #16,881 (2003 - loss #5,579).
At an Extraordinary General Meeting on 6 April 2004, shareholders approved
proposals for the Company to place 27,536,231 Ordinary Shares of 0.1p at a price
of 0.345p per share, and to create and issue #355,000 Unsecured Zero Coupon 7
year Convertible #1 Loan Notes, raising in total #450,000 before expenses.
Overheads continue to be incurred on a minimal basis and cash balances at 30
September 2004 amounted to #579,758 (2003 - #172,436).
Your Board hopes that it will be in a position to place suitable proposals to
shareholders for the development of the Company in the near future.
Robert Stubbs
Executive Director
24 December 2004
RII plc
Unaudited profit and loss account
for the six months ended 30 September 2004
Six months Six months Year
ended ended ended
30 Sept 30 Sept 31 March
2004 2003 2004
# # #
Turnover - - -
Net operating expenses (25,493) (7,651) (40,561)
------------- ------------- -------------
Operating Loss (25,493) (7,651) (40,561)
Interest receivable 8,612 2,072 3,870
Interest payable - - (33)
------------- ------------- ---------------
Loss on ordinary activities
before taxation (16,881) (5,579) (36,724)
Tax on loss on ordinary - - -
activities
------------- ------------- ---------------
Loss on ordinary activities
after taxation (16,881) (5,579) (36,724)
======== ======== ========
Basic loss per share (0.018)p (0.008)p (0.06)p
======== ======== ========
Fully diluted loss per share (0.009)p - -
======== ======== ========
RII plc
Unaudited balance sheet at 30 September 2004
30 Sept 30 Sept 2003 31 March
2004 2004
# # #
Current assets
Debtors 120 4,650 30,172
Cash at Bank 579,758 172,436 121,545
---------- ---------- ----------
579,878 177,086 151,717
Creditors: Amounts falling due
within one year (9,845) (9,028) (14,803)
---------- ---------- ----------
Net current assets 570,033 168,058 136,914
Creditors: Amounts falling due
after more than one year -
Unsecured Zero Coupon Convertible
Loan Notes 2011 (Note vi) (335,000) - -
---------- ---------- ----------
NET ASSETS 235,033 168,058 136,914
======= ====== ======
CAPITAL AND RESERVES
Called up share capital 99,272 65,939 65,939
Share premium account 1,978,352 1,896,685 1,896,685
Profit and loss account (1,842,591) (1,794,566) (1,825,710)
---------- ------------- -------------
TOTAL EQUITY SHAREHOLDERS' FUNDS 235,033 168,058 136,914
======= ======= ========
RII plc
Unaudited cash flow statement
for the six months ended 30 September 2004
30 September 30 September 2003 31 March
2004 2004
# # #
Net Cash Inflow/ (Outflow) from
Operating Activities - see (a)
below (399) (37,777) (90,433)
Returns on Investments and
Servicing Of Finance - see (b)
below 8,612 2,072 3,837
---------- ---------- ----------
Cash Inflow/(Outflow) before the
use of Liquid Resources and
Financing 8,213 (35,705) (86,596)
Issue of new Ordinary shares 95,000 - -
Issue of Unsecured Zero Coupon
Convertible Loan Notes 2011 355,000 - -
---------- ---------- ----------
Increase/(decrease) in cash -
see (c) below 458,213 (35,705) (86,596)
====== ====== ======
(a) Reconciliation of operating loss to
cash (outflow)/inflow from operating activities
# # #
Operating loss (25,493) (7,651) (40,561)
(Increase)/decrease in debtors 30,052 (4,256) (29,778)
Increase/ (decrease) in creditors (4,958) (25,870) (20,094)
---------- ---------- ----------
Cash (outflow)/inflow from operating
activities (399) (37,777) (90,433)
====== ====== ======
(b) Analysis of cash flows from headings
netted in the cash flow statement
# # #
Returns on investment and servicing of
finance
Interest received 8,612 2,072 3,870
Interest paid - - (33)
---------- ---------- ----------
Net cash inflow from returns on
investments and servicing of finance 8,612 2,072 3,837
====== ====== ======
(c) Analysis of cash
# # #
Cash at bank and in hand
Balance at beginning of period 121,545 208,141 208,141
Net cash flow 458,213 (35,705) (86,596)
---------- ---------- ----------
Balance at end of period 579,758 172,436 121,545
====== ====== ======
RII plc
Notes to the unaudited interim financial information
30 September 30 September 31 March
2004 2003 2004
# # #
Debtors
Other debtors 120 171 30,115
Prepayments - 4,479 57
---------- ---------- ----------
120 4,650 30,172
====== ====== ======
Creditors
Other creditors 3,129 2,802 10,768
Accruals 6,716 6,226 4,035
--------- --------- ----------
9,845 9,028 14,803
====== ====== ======
Notes
i) The interim financial information for the six months ended 30 September 2004
includes only the results of RII plc. The unaudited results for the period have
been prepared on the basis of the accounting policies adopted in the audited
accounts for the year ended 31 March 2004.
ii) The unaudited profit and loss account for each of the six month periods and
the unaudited balance sheet as at 30 September 2004 do not amount to full
accounts within the meaning of Section 240 of the Companies Act 1985 and have
not been delivered to the Registrar of Companies. The Interim Report is
unaudited and does not constitute Statutory Accounts.
iii) The results for the year ended 31 March 2004 have been extracted from the
statutory accounts of the Company for that year, which have been filed with the
Registrar of Companies. The auditors' report on these accounts was unqualified
and did not contain any statement under Section 237 of the Companies Act 1985.
iv) No dividend is proposed to be paid in respect of the period (2003- Nil).
v) The calculation of basic loss per share is based on the loss after taxation
for the period of #16,881 (2003-loss #5,579) and on 94,979,473 (2003 -
65,938,530) ordinary shares, being the weighted average number of ordinary
shares in issue during the period.
The calculation of fully diluted loss per share is based on the loss after
taxation for the period of #16,881 and on 190,831,694 ordinary shares, being the
weighted average number of ordinary shares in issue during the period assuming
full conversion of #335,000 Unsecured Zero Coupon Convertible Loan Notes 2011
outstanding at 30 September 2004. No comparative figures are shown for fully
diluted earnings per share as the Unsecured Zero Coupon Convertible Loan Notes
2011 were issued on 6 April 2004.
vi) During the six months ended 30 September 2004, the Company issued #355,000
Unsecured Zero Coupon Convertible #1 Loan Notes 2011, ("Loan Notes") of which a
Loan Note for #20,000 was converted into 5,797,101 Ordinary shares prior to 30
September 2004. Since that date, holders of a further #215,000 Loan Notes have
converted into 62,318,836 Ordinary shares of 0.1p.
vii) Copies of the Interim Statement are available from the Company's Registered
Office at 56 Queen Anne Street, London W1G 8LA.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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