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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Aspen Energy | LSE:ACEP | London | Ordinary Share | GB00B17M5331 | 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% | 4.65 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:4859E Aspen Clean Energy PLC 26 September 2007 26 September 2007 Aspen Clean Energy Plc ("Aspen" or "the Company") Unaudited interim report for the six months to 30 June 2007 Chairman's Statement The Company's sole activity during the period under review has been to evaluate a variety of businesses with a view to making a suitable acquisition. To date your Directors have not found a sufficiently attractive opportunity. The Board is very conscious that cash is especially attractive in the current turbulent markets and the Company's resources are deployed in the money markets with large financial institutions. Your Directors continue to seek suitable investment opportunities with the main criteria being that any potential acquisition offers the prospect of long term growth. K R Smith Chairman 26 September 2007 Aspen Clean Energy plc Jonathan Bradley-Hoare 020 7467 1700 John East & Partners Limited John East 020 7628 2200 Unaudited Income Statement for the six months to 30 June 2007 Six months Six months Year ended to 30 June to 30 June 31 December 2007 2006 2006 Notes #'000 #'000 #'000 Revenue - - - Cost of Sales - - - ---------- ---------- --------- Gross Profit - - - Administrative expenses (88) (54) (240) ---------- ---------- --------- Loss from operations (88) (54) (240) Interest and similar income receivable 69 12 162 ---------- ---------- --------- Loss before taxation from continuing operations (19) (42) (78) Taxation - - - ---------- ---------- --------- Loss for the period from continuing operations (19) (42) (78) Loss from discontinued operations - (150) (150) ---------- ---------- --------- Loss for the period attributable to equity shareholders (19) (192) (228) ========== ========== ========= Earnings per share 2 From total operations Basic and fully diluted loss per share (0.03p) (0.11p) (0.18p) From continuing operations Basic and fully diluted loss per share (0.03p) (0.02p) (0.06p) ========== ========== ========= Unaudited Balance Sheet At 30 June 2007 As at As at As at 30 June 30 June 31 December 2007 2006 2006 #'000 #'000 #'000 Assets Current Assets Trade and other receivables 1,115 1,142 1,113 Cash and cash equivalents 2,640 12,766 2,664 --------- -------- ---------- 3,755 13,908 3,777 --------- -------- ---------- Total assets 3,755 13,908 3,777 ========= ======== ========== Equity and liabilities Equity attributable to equity holders of the company Called up Share capital 695 1,695 695 Share premium account 4,452 13,450 4,452 Retained Earnings (1,417) (1,329) (1,398) --------- -------- ---------- Total equity 3,730 13,816 3,749 Current liabilities Trade and other payables 25 92 28 --------- -------- ---------- 25 92 28 --------- -------- ---------- Total equity and liabilities 3,755 13,908 3,777 ========= ======== ========== Unaudited Cash Flow Statement For the six months to 30 June 2007 Six months to Six months to Year ended 30 June 30 June 31 December 2007 2006 2006 #'000 #'000 #'000 Operating activities Operating loss (88) (54) (240) Increase in receivables ( 2) (1,097) (1,068) Decrease in payables ( 3) (111) (175) --------- --------- ---------- Cash outflow from operating activities (93) (1,262) (1,483) --------- --------- ---------- Investing activities Net proceeds from disposal of subsidiary - 13,221 13,221 Interest income 69 12 162 --------- --------- ---------- Net cash inflow from investing activities 69 13,233 13,383 --------- --------- ---------- Financing activities Repayment of capital - - (10,031) --------- --------- ---------- Net cash used in financing activities - - (10,031) --------- --------- ---------- Cash flow for the year Net increase/(decreas e) in cash and cash equivalents (24) 11,971 1,869 Cash and cash equivalents at beginning of period 2,664 795 795 --------- --------- ---------- Cash and cash equivalents at end of period 2,640 12,766 2,664 ========= ========= ========== Unaudited statement of changes in equity for the six months to 30 June 2007 Share Share Retained Total Capital Premium earnings #'000 #'000 #'000 #'000 Balance at 1 January 2006 1,695 13,450 (1,137) 14,008 Loss for the period - - ( 192) (192) -------- ------- --------- ------- Balance at 30 June 2006 1,695 13,450 (1,329) 13,816 -------- ------- --------- ------- Balance at 1 January 2007 695 4,452 (1,398) 3,749 Loss for the period - - (19) ( 19) -------- ------- --------- ------- Balance at 30 June 2007 695 4,452 (1,417) 3,730 ======== ======= ========= ======= Notes to the Unaudited Financial Statements for the six months to 30 June 2007 1. Accounting policies The financial statements have been prepared under the historical cost convention, in accordance with applicable accounting standards and the accounting policies applied by the Company in the 2006 annual report. The financial statements for the six months to 30 June 2007 are unaudited and do not constitute statutory accounts as defined in section 240 of the Companies Act 1985. The financial information for the year ended 31 December 2006 is extracted from the audited statutory accounts for the year then ended which have been delivered to the Registrar of companies. The audit report on these accounts was unqualified and did not contain a statement under Section 237(2) or (3) of the Companies Act 1995. In the opinion of the directors the financial information for the six months to 30 June 2007 presents fairly the financial position, results of operations and cash flows for the period in conformity with International Financial Reporting Standards which have been consistently applied. The interim statement for the six months ended 30 June 2007 was approved by the directors on 27 September 2007. 2. Earnings per share Six months Six months Year ended 31 ended ended December 2006 30 June 30 June 2007 2006 #'000 #'000 #'000 Earnings for the purpose of earnings per share: Continuing operations (19) (42) (78) Discontinued operations - (150) (150) --------- --------- --------- Total operations (19) (192) (228) ========= ========= ========= Number of shares '000 '000 '000 Weighted average number of ordinary shares in issue during the period 69,475 169,450 127,794 ========= ========= ========= Basic and fully diluted loss per share: Continuing operations (0.03p) (0.02) (0.06p) Total operations (0.03p) (0.11p) (0.18p) ========= ========= ========= 3. Contingent liabilities Following the sale of Aspen Clean Fuels Limited 15 million Swedish Krona are held in an escrow account (approx #1.1 million) as part of the sale agreement with Lantemannen for warranty claims. This money will be released to Aspen Clean Energy Plc in January 2008. No warranty claims have been made to date and the directors do not expect any. 4. Ultimate parent undertaking Aspen Clean Energy Plc's majority shareholder is Europanel AB a company registered in Sweden whose only shareholder is Sven Jan Lindblad. Europanel AB holds 52.5 per cent of Aspen Clean Energy Plc's issued share capital. 5. Dividend No dividend is proposed for the six months ended 30 June 2007. 6. Copies of Interim Report Copies of the interim report can be obtained by writing to The Company Secretary, Aspen Clean Energy Plc, 31 Harley Street, London W1G 9QS or on the Company's website www.aspencleanenergy.com. This information is provided by RNS The company news service from the London Stock Exchange END IR SEDFWISWSEDU
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