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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Zyzygy | LSE:ZYZ | London | Ordinary Share | GB0009585182 | 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% | 0.08 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:3066Q
Zyzygy PLC
18 March 2008
ZYZYGY plc
Unaudited results for the six months ended 31 December 2007
Chairman's Statement for the interim period ending 31 December 2007
We are very pleased to report a profit of £845,000 for the 6 month period to 31
December, the result of an increase in the value of our investments allied to a
low cost base.
During the period under review and since then, we concentrated on enhancing the
value of our investments through careful support, whilst seeking to realise the
maximum return for our investors through an IPO or other form of exit for our
two principal investee companies, MarineTrack Limited and Nice Tech Limited.
Marine Track Limited
As previously announced, the proposed flotation of MarineTrack had been delayed
because of market conditions which remain difficult. However we have identified
a new opportunity where we anticipate reaching IPO within three months, and full
details will be made public as soon as possible. Demand for MarineTrack's
products and services continue to grow and your board remain very confident of
the future growth and success of this company.
Nice Tech Limited
The team at Nice Tech have worked tirelessly on the production of Tronji World
which is now in final testing, and will shortly be released in conjunction with
BBC Worldwide and Ragdoll. Created using Alice Servers unique and innovative
technology, we are confident that this interactive game will be exceptionally
well received We believe that the game is the most sophisticated 3D product for
children that has been produced, a fact that was recognised by the company being
one of three nominees for TIGA's prestigious "Best Technology" category. The
company continues to attract considerable interest from major global film, TV,
media and producers of computer games. We continue to work towards an IPO of
this company and look forward to reporting further progress in this regard
before the end of June.
The Directors of Zyzygy would very much like to acknowledge the financial and
advisory support that Billam AG and Peter Hoskins have continued to give the
Company, enabling us to take a more patient approach to the listing of our two
major investments We are pleased to announce our intention of again paying a
dividend of 0.01p per share. This intended dividend will be paid on 29 September
2008 to all shareholders on the register at 19 September 2008.
Duncan J Lipscombe
Chairman
ZYZYGY plc
Unaudited Profit and Loss Account
For the six months ended 31st December 2007
31st December 31st December
2007 2006
£'000s £'000s
Gains on investments
Realised 24 18
Unrealised 1,464 13
1,488 31
Income - 100
______ _____
Gross Revenue and Capital return 1,488 131
Administrative expenses (281) (88)
______ _____
Net Return before exceptional items,
finance costs and taxation
1,207 43
Interest receivable or similar income
- 55
______ _____
Return on Ordinary Activities before
Taxation
1,207 98
Tax on Ordinary Activities (362) (30)
______ ______
Return attributable to equity shareholders
before dividend
845 68
Dividend (65) (58)
______ _____
Return attributable to equity shareholders
£ 780 £ 10
===== =====
Earnings per Share
Basic and fully diluted 0.10p 0.01p
ZYZYGY plc
Unaudited Balance Sheet
at 31st December 2007
31st December 2007 31st December 2006
£'000s £'000s £'000s £'000s
Fixed Assets
Investments 6,056 3,352
Current Assets
Debtors 928 989
Cash at Bank 9 10
_____ _____
937 999
Current Liabilities
Creditors: Amounts falling
due within one year (611) (174)
_____ 326 825
_____ _____
Net Current Assets 6,382 4,177
Provision for Liabilities and
Charges (907) (394)
£ 5,475 £3,783
===== =====
Capital and Reserves
Called up Share Capital 881 653
Share Premium Account 1,656 1,360
Capital Reserve 3,148 1,446
Profit and Loss Account (210) 324
______ _____
£5,475 £3,783
===== =====
ZYZYGY plc
Unaudited Cash Flow Statement
For the six months ended 31st December 2007
Six Months Ended 31st Six Months Ended
December 31st December
2007 2006
Unaudited Unaudited
£'000s £'000s
Net Cash Outflow from
Operating Activities (254) (789)
Returns on investment and
Servicing of Finances
Interest Received - 55
______ ______
Net Cash Flow from Operating
Activities and Returns on Investment
and Servicing of Finance (254) (734)
Dividend Paid (65) (58)
______ ______
Net Cash Flow from Operating Activities
and Returns on Investment,
Servicing of Finance and Dividend (319) (792)
Capital Expenditure and Financial
Investment
Purchase of Investments - (205)
Loans to invested companies (342) -
Sale of Investments 75 667
______ ______
Net Cash Inflow/(Outflow) from Capital
Expenditure and Financial Investment (267) 462
______ ______
Net Cash (Outflow) before financing (586) (330)
______ ______
FINANCING
Issue of equity share capital 229 78 -
Share premium received on
share capital issued 296 233 -
Less: Expenses of issue - (11) -
_____ ____
Net Cash Inflow from Financing 525 300
______ ______
Decrease in Cash (£ 61) (£ 30)
====== =====
ZYZYGY plc
Unaudited reconciliation of Operating Profit /(Loss) to
Net Cash Flow from Operating Activities
For the six months ended 31st December 2007
Six months ended 31st Six months ended
December 2007 31st December 2006
Unaudited Unaudited
£'000s £'000s
Operating return 1,207 43
Unrealised (increase) in investment
appreciation ( 1,464) ( 13)
(Increase) in debtors ( 1) ( 896)
Increase in creditors 4 77
________ _______
Net Cash (Outflow) from Operating Account
(£ 254 ) (£ 789)
======= =======
ZYZYGY plc
Notes to the Interim Unaudited Results
For the six months ended 31st December 2007
1. Basis of preparation
The financial information for the six month period ended 31st December 2007 is
unaudited and does not constitute statutory accounts within the meaning of the
Companies Act 1985. The accounts have been prepared using accounting policies
consistent with those set out in the Company's statutory accounts for the year
ended 30th June 2007.
2. Taxation
No liability arises for corporation tax for the period ended 31st December 2007.
However deferred tax is recognised on all timing differences where the
transactions or events that give the company an obligation to pay more tax in
the future have occurred at the Balance Sheet date.
3. Dividends
The Company paid a second dividend in respect of the six months ended 31st
December 2006 of 0.01p per share. This dividend was paid on 1st July 2006. The
Company proposes to pay a similar dividend in respect of the six months ended
31st December 2007.
4. Earnings per share
The calculation of the basic earnings per share is based on the profit on
ordinary activities after taxation of £845,000 (Six months to 31st December
2006: Profit £68,000) divided by the weighted average number of shares in issue.
The weighted average number of shares in issue during the period was 819,384,902
(Six months to 31st December 2006: 629,747,415).
There is no difference between the basic and fully diluted loss per share.
5. Share Issues
During the half year 162,500,000 Ordinary Shares of 0.01p were issued in July
2007 at a price of 0.2p per share and 66,666,67 Ordinary Shares of 0.1p were
issued in November 2007 at a price of 0.3p per share.
Enquiries
Zyzygy plc
Duncan Lipscombe Chairman Tel: 01799 550 265
Grant Thornton Corporate Finance Tel: 020 7383 5100
Colin Aaronson
A copy of the interim results will be available on the Company's website
www.zyzygy.co.uk
This information is provided by RNS
The company news service from the London Stock Exchange
END
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