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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Strathdon Inv | LSE:STV | London | Ordinary Share | GB0003808762 | 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% | 0.50 | 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
TIDMSTV
RNS Number : 5383U
Strathdon Investments PLC
23 December 2011
Strathdon Investments plc
("Strathdon" or the "Company")
Interim Results for the six months to 30 September 2011
Strathdon Investments plc, (AIM: STV) today announces its interims results for the six months ended 30 September 2011.
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
For the 6 months ended 30 September 2011
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Unaudited Unaudited Audited
6 months 6 months Year ended
ended ended
30 September 30 September 31 March
2011 2010 2011
GBP000 GBP000 GBP000
Notes
Revenue 18 10 287
Administrative expenses (108) (107) (191)
-------------------------------------- ---------- ----------------- ----------------- ---------------
Operating loss (90) (97) 96
-------------------------------------- ---------- ----------------- ----------------- ---------------
Realised losses on financial
assets designated at fair
value through profit or
loss (net) - - (71)
Unrealised gains on financial
assets designated at fair
value through profit or
loss (net) - (273) (231)
-------------------------------------- ---------- ----------------- ----------------- ---------------
Net movement on investments - (273) (302)
Loss before finance costs
and taxation (90) (370) (206)
Finance costs - (7) (6)
-------------------------------------- ---------- ----------------- ----------------- ---------------
Loss before taxation (90) (377) (212)
Taxation - - -
-------------------------------------- ---------- ----------------- ----------------- ---------------
Loss for the period attributable
to equity shareholders (90) (377) (212)
-------------------------------------- ---------- ----------------- ----------------- ---------------
Total comprehensive income
for the period attributable
to equity shareholders (90) (377) (212)
-------------------------------------- ---------- ----------------- ----------------- ---------------
Basic and diluted loss
per ordinary share 2 (0.09)p (0.73p) (0.34p)
-------------------------------------- ---------- ----------------- ----------------- ---------------
The result is wholly attributable to continuing activities.
CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 September 2011
Unaudited Unaudited Audited
6 months 6 months Year ended
ended ended
30 September 30 September 31 March
2011 2010 2011
GBP000 GBP000 GBP000
Notes
Assets
Non-current assets
Financial assets designated
at fair value through profit
and loss 2,303 2,737 2,322
Subsidiary acquired exclusively
with view for re-sale 329 - 329
-------------------------------------- ---------- ----------------- ----------------- ---------------
2,632 2,737 2,651
Current assets
Trade and other receivables 30 152 105
Cash and cash equivalents 342 66 402
-------------------------------------- ---------- ----------------- ----------------- ---------------
372 218 507
Liabilities
Current liabilities
Financial liabilities - (141) -
Trade and other payables (114) (524) (178)
-------------------------------------- ---------- ----------------- ----------------- ---------------
(114) (665) (178)
Net current assets/(liabilities) 258 (447) 329
-------------------------------------- ---------- ----------------- ----------------- ---------------
Total assets less current
liabilities 2,890 2,290 2,980
Non-current liabilities
Financial liabilities - - -
-------------------------------------- ---------- ----------------- ----------------- ---------------
Net assets 2,890 2,290 2,980
-------------------------------------- ---------- ----------------- ----------------- ---------------
Shareholders' equity
Share capital 3,116 2,591 3,116
Share premium account 6,392 6,392 6,392
Special reserve 36,290 36,290 36,290
Warrant reserve 928 928 928
Retained earnings (43,836) (43,911) (43,746)
-------------------------------------- ---------- ----------------- ----------------- ---------------
Total Shareholders' equity 2,890 2,290 2,980
-------------------------------------- ---------- ----------------- ----------------- ---------------
Basic and Diluted Net Asset
Value per Ordinary Share 3 2.77p 4.42p 2.86p
-------------------------------------- ---------- ----------------- ----------------- ---------------
The interim financial statements were approved and authorised for issue by the Board of Directors on 19 December 2011 and were signed on its behalf by:
Simon Hunt
Chairman
STATEMENT OF CHANGES IN SHAREHOLDERS' EQUITY (UNAUDITED)
For the 6 months ended 30 September 2011
Share Share Special Warrant Retained Total
capital premium reserve reserve earnings equity
*
account
GBP000 GBP000 GBP000 GBP000 GBP000 GBP000
Balance at 31 March
2010 2,591 6,392 36,290 928 (43,534) 2,667
Loss for the period - - - - (377) (377)
----------------------------- ------------ ------------ ------------ ------------ ------------- -----------
Balance at 30 September
2010 2,591 6,392 36,290 928 (43,911) 2,290
Equity capital raised 525 - - - - 525
Loss for the period - - - - 165 165
----------------------------- ------------ ------------ ------------ ------------ ------------- -----------
Balance at 31 March
2011 3,116 6,392 36,290 928 (43,746) 2,980
Loss for the period - - - - (90) (90)
----------------------------- ------------ ------------ ------------ ------------ ------------- -----------
Balance at 30 September
2011 3,116 6,392 36,290 928 (43,836) 2,890
----------------------------- ------------ ------------ ------------ ------------ ------------- -----------
* The special reserve is a distributable reserve.
CONSOLIDATED STATEMENT OF CASH FLOWS
For the 6 months ended 30 September 2011
Unaudited Unaudited Audited
6 months 6 months Year ended
ended ended
30 September 30 September 31 March
2011 2010 2011
GBP000 GBP000 GBP000
Net cash outflow from operating
activities (79) (109) (191)
------------------------------------------ ----------------- ----------------- ---------------
Cash flows from investing activities
Purchase of financial assets - - (40)
Proceeds from sale of financial
assets - 17 133
Loans to subsidiaries acquired
exclusively with a view for re-sale - - (20)
------------------------------------------ ----------------- ----------------- ---------------
Net cash from Investing activities - 17 73
------------------------------------------ ----------------- ----------------- ---------------
Cash flows used in financing
activities
Repayment of borrowings 19 - (141)
Interest paid - - (6)
Net proceeds from equity fund
raising - - 505
------------------------------------------ ----------------- ----------------- ---------------
Net cash from financing activities 19 - 358
Net (decrease)/increase in cash
and cash equivalents (60) (92) 240
Cash and cash equivalents at
the beginning of the period 402 158 162
------------------------------------------ ----------------- ----------------- ---------------
Cash and cash equivalents at
the end of the period 342 66 402
NOTES TO THE INTERIM FINANCIAL STATEMENTS
For the 6 months ended 30 September 2011
1. General information, basis of preparation and principal accounting policies
These interim statements, which have been approved by the directors, are unaudited, and have not been reviewed by the auditors pursuant to the Auditing Practices Board (APB) guidance on Review of Interim Financial Information.
These interim statements do not constitute full financial statements as defined in section 434 of the Companies Act 2006. The comparative figures for the year ended 31 March 2011 do not constitute full financial statements and have been extracted from the Group's financial statements for the year ended 31 March 2011. The accounts for the year ended 31 March 2011 were reported without qualification by the auditors and have been delivered to the Registrar of Companies.
These interim statements have been prepared on a going concern basis. In arriving at their decision to prepare these interim statements on a going concern basis, the directors have reviewed the anticipated income and expenditure of the Group and compared with the Group's expected cash resources. This included consideration of the anticipated realisation proceeds of the investment portfolio, the timing of the realisation process and the cash flow implications.
These interim statements comply with IAS 34 "Interim Financial Reporting" and AIM Rule 18. The accounting policies and methods of computation adopted in these interim statements are the same as those adopted in the preparation of the audited financial statements for the year ended 31 March 2011.
The financial statements for the year ended 31 March 2011 were prepared in accordance with the International Financial Reporting Standards (IFRS) adopted by the European Union and those parts of the Companies Act 2006 applicable to companies reporting under IFRS.
The following new standards and amendments to standards are mandatory for the first time for the financial year commencing 1 April 2010. Where relevant to the Group these interim statements have been prepared under the revised disclosure requirements:
IFRS 3 Business Combinations (revised) - The revised standard is required to be adopted for any acquisitions made in the year but had no impact on these financial statements.
IFRS 7 (revised) Financial Instruments Disclosure - The amendment requires enhanced disclosure of fair value measurement and liquidity risk. In particular, the amendment requires disclosure of fair value measurements by level of hierarchy.
IAS 24 (revised) Related Party Disclosures - This revision is in response to concerns that the previous disclosure requirements and the definition of a related party were too complex and difficult to apply in practice, especially in environments where government control is pervasive. The Group has adopted the revised IAS 24 in these financial statements.
There has been no change to the principal risks and uncertainties facing the Group since the publication of the financial statements for the year ended 31 March 2011. In summary, the principal risks are:
-- Investment and strategic; -- Liquidity risk; -- Regulatory; -- Reputational; -- Operational; -- Financial; -- Interest rate risk; and -- Foreign currency risk
Full details of the principal risks can be found in the financial statements for the year ended 31 March 2011 on page 9, a copy of which can be found at www.strathdoninvestmentsplc.com.
1. Basic and Diluted Loss per share
The loss per share is based on the net loss for the period attributable to shareholders of GBP90,000 (30 September 2010: GBP377,000 and 31 March 2011: GBP212,000) and on 104,317,057 shares (30 September 2010: 51,817,057 and 31 March 2011: 62,892,399) being the weighted average number of shares in issue during the period.
The final exercise period for the share options within the Employee Share Option Scheme and the warrants exercisable at 36p per share has elapsed.
2. Net Asset Value per share
The Net Asset Value per share is calculated on attributable assets of GBP2,890,000 and 104,317,057 shares in issue at the period end (30 September 2010: assets of GBP2,290,000 and 51,817,057 shares, 31 March 2011: assets of GBP2,980,000 and 104,317,057 shares).
The final exercise period for the share options within the Employee Share Option Scheme and the warrants exercisable at 36p per share has elapsed.
3. Directors
The directors of the Company are Mr S D Hunt, Mr J R Cusins, Mr P A Loizou and Mr J S B Smith.
4. Other information
Copies of the interim report can be obtained from the company's registered office or from the website: www.strathdoninvestmentsplc.com.
Contacts:
Strathdon Investments Plc
Simon Hunt Tel: 07733 337755
John Cusins Tel: 07967 007223
Seymour Pierce Limited Tel: 0207 107 8000
Nicola Marrin / David Foreman
This information is provided by RNS
The company news service from the London Stock Exchange
END
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