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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Abraxus Inv. | LSE:AXU | London | Ordinary Share | GB0008463787 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 3.75 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number : 3851K Abraxus Investments PLC 18 December 2008 18 December 2008 Abraxus Investments PLC ("Abraxus" or the "Company") Interim Results for the six months ended 30 September 2008 Chairman's Statement I am pleased to announce the interim results for the six months ended 30 September 2008. All comparatives are for the six months ended 30 September 2007. Financial Results: Turnover for the period was nil (2007 - nil) with an operating loss on ordinary activities of £163,834 (2007: £53,241). The loss on ordinary activities after taxation was £139,625 (2007: £14,933). The Board is not recommending the payment of a dividend. At 30 September 2008, the Group had net assets of £1,330,972 (30 September 2007: £1,497,291) equivalent to 3.9p per share (30 September 2007: 4.3p per share). Operational review The Company's activities during the period under review were devoted to identifying and investigating various investment opportunities. On 29 September 2008, the Company announced that it was at an advanced stage of examining an acquisition which would have constituted a Reverse Takeover under the AIM Rules. In the light of the downturn in European property markets, the Company announcement on 17 October 2008 that it was no longer pursuing this opportunity. The Company is currently reviewing a number of other potential acquisitions, all of which are at an early stage. Some of these opportunities may entail a change in investment strategy for which the Company would consult with its shareholders. The Company will continue to keep shareholders advised of future developments. The Company's shares remain suspended in accordance with AIM Rule 15. David Sparks Chairman 18 December 2008 Enquiries Shore Capital and Corporate Limited Christian Littlewood Tel: 020 7408 4090 Abraxus Investments PLC Income Statement for the six months ended 30 September 2008 Unaudited Unaudited Audited Notes 6 months 6 months year ended ended ended 30-Sep 08 30-Sep-07 31-Mar-08 Turnover - - - Cost of sales - - - Gross profit - - - Administrative expenses (163,834) (53,241) (117,316) Operating loss (163,834) (53,241) (117,316) Finance income 24,209 38,308 75,689 Loss on ordinary activities (139,625) (14,933) (41,627) before taxation Tax on profit on ordinary - - - activities Retained loss for the period (139,625) (14,933) (41,627) Loss per share Basic and diluted 2 0.41p 0.04p 0.12p Abraxus Investments PLC Balance Sheet as at 30 September 2008 Unaudited Unaudited Audited 6 months 6 months year ended ended ended 30-Sep 08 30-Sep-07 31-Mar-08 Assets Current Trade and other receivables 1,838 2,500 4,227 Cash and cash equivalents 1,462,424 1,597,706 1,512,031 1,464,262 1,600,206 1,516,258 Total assets 1,464,262 1,600,206 1,516,258 Equity Called up share capital 1,722,222 1,722,222 1,722,222 Share premium account 7,435,193 7,435,193 7,435,193 Retained earnings (7,826,443) (7,660,124) (7,686,818) 1,330,972 1,497,291 1,470,597 Current liabilities Trade and other payables 133,290 102,915 45,661 Total equity and liabilities 1,464,262 1,600,206 1,516,258 Abraxus Investments PLC Consolidated Statement of Changes in Equity for the six months ended 30 September 2008 Equity attributable to equity holders of Abraxus Investments PLC Share Share Retained Total Equity Capital Premium Earnings £ £ £ £ Balance as at 1 April 2007 1,722,222 7,435,193 (7,645,191) 1,512,224 Loss for the period (14,933) (14,933) Balance as at 30 September 1,722,222 7,435,193 (7,660,124) 1,497,291 2007 Loss for the period (26,694) (26,694) Balance as at 31 March 2008 1,722,222 7,435,193 (7,686,818) 1,470,597 Loss for the period (139,625) (139,625) Balance as at 30 September 1,722,222 7,435,193 (7,826,443) 1,330,972 2008 Abraxus Investments PLC Unaudited Consolidated Cashflow for the six months ended 30 September 2008 Unaudited Unaudited 6 months 6 months ended ended 30-Sep 08 30-Sep-07 Operating Loss for the period before (163,834) (53,241) interest Change in trade and other 2,389 3,403 receivables Change in trade and other 87,629 (32,098) payables (73,816) (81,936) Investing Interest received 24,209 38,308 24,209 38,308 Net decrease in cash and cash (49,607) (43,628) equivalents Cash and cash equivalents, 1,512,031 1,641,334 beginning of the period Cash and cash equivalents, end of 1,462,424 1,597,706 the period Notes 1. Accounting policies The interim results have been prepared in accordance with the requirements of IAS34 'Interim Financial Reporting' as adopted by the European Union ('EU'). The financial information for the six months ended 30 September 2008 was approved by the Board on 18 December 2008. The financial information contained in this report does not constitute statutory accounts, is not audited, nor has it been reviewed by the auditor. The interim statement has been prepared by applying the accounting policies and presentation that were applied in the preparation of the financial statements for the year ended 31 March 2008, which were prepared in accordance with International Financial Reporting Standards as adopted by the EU. The results for the year ended 31 March 2008 have been extracted from the Annual Report and Accounts which received an unqualified auditor's report that did not contain a statement under section 237(2) or (3) of the Companies Act 1985, and have been delivered to the Register of Companies. 2. Loss per share Basic loss per share is calculated by dividing the net loss attributable to ordinary shareholders after taxation by the weighted average number of ordinary shares in issue during the relevant financial periods. No share options have been issued and therefore the same weighted average number of shares figure has been used to calculate the diluted earning per share figure. Unaudited Unaudited 6 months 6 months ended ended 30-Sep 08 30-Sep-07 Net loss attributed to (139,625) (14,933) shareholders Weighted average number of 34,444,444 34,444,444 ordinary shares: Basic loss per ordinary share 0.41p 0.04p A downloadable version is available from the following web address: www.abraxusinvestmentsplc.com This information is provided by RNS The company news service from the London Stock Exchange END IR KGMMZGRZGRZM
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