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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Bolton Grp(Int) | LSE:BOL | London | Ordinary Share | BMG1218K1045 | COM SHS 1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:3665C Bolton Group (International) Ld 27 August 2004 Bolton Group (International) Limited 26 August 2004 Preliminary Results The Board of Bolton Group (International) Limited ('Bolton Group' or 'the Group') real estate holding and development group, announces its preliminary unaudited results for the year ended 30 April 2004. Chairman's Statement Review of operations As announced previously, in January 2004, the company had moved to protect its position and has obtained a High Court Freezing Injunction preventing the transfer or removal of the company's former principle asset, Angel House pending resolution of the company's legal attempt to retain title to the aforesaid asset. Urania Securities Limited was the sole owner of the building known as Angel House. The Board would like to inform the shareholders of the outcome of a settlement reached at Mediation on 25 August 2004. According to the agreement reached on 25 August 2004, within 10 weeks the company will have to pay the sum of #670,000 to the third defendant, Mileplace Limited, and upon completion of that transaction the shares and consequently, Angel House will return to the company. The company in its present position does not have the required funding to pay this sum and other outstanding debts. The Directors of the company are taking all necessary steps to either raise funds on the property or sell the property. In either case the directors are satisfied that they would be in a position to comply with the terms of the agreement achieved at the mediation on 25 August 2004 and thus secure the reinstatement of the company's assets. At the commencement of the litigation, the company had been divested of its assets. At the conclusion of the Mediation the company will achieve the return of its assets and have sufficient resources to seek and obtain new investments. The settlement agreed was in the company's best interests. The inherent risk of litigation and extensive legal costs incurred in respect of the same have been averted by achieving the settlement agreed at the Mediation. Israel Librowski Chairman Consolidated profit and loss account for the year ended 30 April 2004 Note 2004 2003 #000 #000 #000 #000 Turnover - discontinued activities 1,2 72 219 Administrative expenses (554) (437) Other operating income - - ------- ------- Operating (loss)/profit 4 Continuing operations (456) (82) Discontinued operations (26) (136) ------- ------- (482) (218) Gain from disposal of subsidiaries 73 - ------- ------- (Loss)/profit on ordinary activities before interest and taxation (409) (218) Interest receivable 5 - - Interest payable 6 (35) (120) ------- ------- (Loss)/profit on ordinary activities 2-6 before taxation (444) (338) Tax on (loss)/profit on ordinary activities 7 - - ------- ------- Retained (loss)/profit for the year 19 (444) (338) ======= ======= (Loss)/earnings per share 8 (0.68p) (0.56p) ======= ======= Diluted(loss)/earnings per share 8 (0.68p) (0.56p) ======= ======= There are no recognised gains or losses other than those passing through the profit and loss account. Consolidated balance sheet at 30 April 2004 Note 2004 2003 #000 #000 #000 #000 Fixed assets Tangible assets 9 - 2,660 Current assets Debtors 11 4 139 Cash at bank and in hand - 24 ------- ------- 4 163 Creditors: amounts falling due within one year 12 (297) (2,713) ------- ------- Net current liabilities (293) (2,550) ------- ------- Net (liabilities)/assets (293) 110 ======= ======= Capital and reserves Called up share capital 15 656 606 Share premium account 16 1,548 1,534 Revaluation reserve 17 - (1,363) Other reserves 18 - 5,724 Profit and loss account 19 (2,497) (6,391) ------- ------- Shareholders' funds - equity (293) 110 ======= ======= Balance sheet at 30 April 2004 Note 2004 2003 #000 #000 #000 #000 Fixed assets Investments 10 - 87 Current assets Debtors 11 40 11 Cash at bank and in hand - 2 ------- ------- 40 13 Creditors: amounts falling due within one year 12 (297) (335) ------- ------- Net current liabilities (257) (322) ------- ------- Net liabilities (257) (235) ======= ======= Capital and reserves Called up share capital 15 656 606 Share premium account 16 1,548 1,534 Profit and loss account 19 (2,461) (2,375) ------- ------- Shareholders' funds - equity (257) (235) ======= ======= This information is provided by RNS The company news service from the London Stock Exchange END FR SEDFWMSLSEIA
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