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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
GN Group | LSE:GNGL | London | Ordinary Share | KYG3R47H1052 | ORD 0.5P (DI) |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 2.125 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMLEAL
RNS Number : 7085I
Lead All Investments Limited
27 July 2012
Lead All Investments Limited
("LEAL" or the "Company")
INTERIM FINANCIAL RESULTS
FOR THE PERIOD FROM INCORPORATION TO 30 JUNE 2012
CHAIRMAN'S STATEMENT
The financial information contained within this interim report is based upon the Company's unaudited results for the period of incorporation to 30 June 2012.
The Statement of Comprehensive Income shows a net loss for the period ended 30 June 2012 of GBP80,126. The loss is within the expectations of the Company.
Since LEAL was admitted to AIM on 8 February 2012, the board of directors remain confident about the future growth prospects for MLM direct selling businesses operating in SE Asia and the opportunities that exist for LEAL's investment strategy. Although no investment decisions have yet been made, the management and directors have been active in considering, and analysing, a wide range of opportunities - from Asia Pacific owned businesses to the US, and other corporations wishing to establish and obtain funding for operations in this growth market.
Ahmad Nasri Bin Abdul Rahim
Chairman
A copy of the full report will shortly be made available on the Company's website http://www.leadallinv.com
For further information, kindly contact:
Ahmad Nasri Bin Abdul Rahim Lead All Investments Limited Director 006019575 7732 ------------------------------ ------------------- ------------------- ZAI Corporate Finance Ltd Ray Zimmerman/Wei (Nomad) Wang +44(0)20 7060 2220 ------------------------------ ------------------- -------------------
STATEMENT OF COMPREHENSIVE INCOME
FOR THE PERIOD TO 30 JUNE 2012
Period from incorporation to 30 June 2012 (Unaudited) Notes GBP Revenue - Administrative expenses (80,728) ________ Operating loss (80,728) ________ Bank interest receivable 602 Loss before taxation (80,126) Taxation - ________ Loss for the period (80,126) Other comprehensive income - ________ TOTAL COMPREHENSIVE LOSS FOR THE PERIOD (80,126) ======= Total comprehensive loss attributable to: Equity owners of the Parent Company (80,126) ======= Loss per share - basic and diluted 4 (0.66) =======
STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2012
Notes 30 June 2012 (Unaudited) GBP ASSETS Current assets Trade and other receivables 204,560 Cash and cash equivalents 2,310,519 ________ Total Assets 2,515,079 ________ LIABILITIES Current liabilities Trade and other payables (31,422) ________ Total Liabilities (31,422) ________ Net Assets 2,483,657 ======= EQUITY Capital and reserves Share capital 3 300,000 Share premium 3 2,158,423 Share-based payment reserve 3 105,360 Retained losses (80,126) ________ Shareholders' Funds 2,483,657 =======
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD TO 30 JUNE 2012
Share-based Share Payment Retained Total Capital Share Premium Reserve Losses Equity GBP GBP GBP GBP GBP As at incorporation - - - - - Total comprehensive loss for the period - - - (80,126) (80,126) ________ ________ ________ ________ ________ - - - (80,126) (80,126) Transactions with owners: Issue of shares 300,000 2,700,000 - - 3,000,000 Share issue costs - (436,217) - - (436,217) Share-based payment (note 3) - (105,360) 105,360 - - ________ ________ ________ ________ ________ 300,000 2,158,423 105,360 - 2,563,783 ________ ________ ________ ________ ________ Balance at 30 June 2012 300,000 2,158,423 105,360 (80,126) 2,483,657 ======= ======= ======= ======= =======
STATEMENT OF CASHFLOWS
FOR THE PERIOD TO 30 JUNE 2012
Period from incorporation to 30 June 2012 (Unaudited) GBP Operating activities Operating loss before changes in working capital (80,728) Increase in receivables (204,560) Increase in trade and other payables 31,422 ________ Net cash used in operating activities (253,866) Investing activities Interest received 602 ________ Net cash from investing activities 602 ________ Financing activities Proceeds from issue of shares (net of IPO costs) 2,563,783 ________ Net cash from financing activities 2,563,783 ________ Increase in cash and cash equivalents 2,310,519 Cash and cash equivalents at beginning of period - ________ Cash and cash equivalents at end of period 2,310,519 =======
NOTES TO THE UNAUDITED INTERIM FINANCIAL RESULTS
FOR THE PERIOD TO 30 JUNE 2012
1. Company information
Lead All Investments Limited ('the Company') was incorporated in Cayman Islands on 13 July 2011 (registered number WK-259337). The condensed interim accounts comprise the accounts of the Company for the period from incorporation on 13 July 2011 to 30 June 2012.
The condensed interim accounts for the period ended 30 June 2012 are unaudited. In the opinion of the Directors, the condensed interim accounts for the period present fairly the financial position, and results from operations and cash flows for the period.
As this is the first period of the Company there is no comparative information.
All amounts have been prepared in British Pounds, this being the Company's functional and presentational currency.
These unaudited interim financial results were approved by the Board of Directors on 16 July 2012 and are available on the Company's website, http://www.leadallinv.com. Copies are available from the Company's registered office, Walker House, 87 Mary Street, Georgetown, Grand Cayman KY1-9005, Cayman Islands.
2. Summary of significant accounting policies
2.1. Basis of preparation
The condensed interim accounts have been prepared using accounting policies based on International Financial Reporting Standards (IFRS and IFRIC interpretations) issued by the International Accounting Standards Board ("IASB") as adopted for use in the European Union, including IAS 34 'Interim Financial Reporting' and on the historical cost basis. The condensed interim accounts have been prepared using the accounting policies which are expected to be applied in the Company's next statutory financial statements for the period from incorporation to 31 December 2012.
2.2. Going concern
The financial statements of the Company are prepared on a going concern basis. The Company raises finance for their investment activities focusing on the use of multiple distribution strategies for the distribution of their goods and services, especially in the Asia Pacific region.
The Directors are of the opinion that the Company will have sufficient cash to fund its activities based on forecast cash flow information for a period in excess of twelve months from the date of these interim financial results. Management continues to monitor all working capital commitments and balances on a weekly basis and believe that they have access to appropriate levels of financing for the Company to continue to meet their liabilities as they fall due for at least the next twelve months and is trading as a going concern.
2.3. Segmental reporting
For the purposes of IFRS 8 'Operating Segments' the Company currently has one segment, being 'Investing in the Multi-level Marketing (MLM) sector'. No further operating segment financial information is therefore disclosed.
2.4. Foreign currency translation
Foreign currency transactions are translated into sterling using the exchange rates prevailing at the dates of the transactions. Exchange differences arising from the translation at the year end exchange rates of monetary assets and liabilities denominated in foreign currencies are recognised in the statement of comprehensive income.
NOTES TO THE UNAUDITED INTERIM FINANCIAL RESULTS
FOR THE PERIOD TO 30 JUNE 2012
2.5. Cash and cash equivalents
Cash and cash equivalents consist of cash at bank and in hand, deposits held at call with banks, bank overdrafts and other short-term highly liquid investments with maturities of three months or less from the date of acquisition.
2.6. Taxation
Deferred tax is provided in full using the liability method, on temporary differences arising between the tax bases of assets and liabilities and their carrying amounts in the financial statements. Deferred tax is not accounted for if it arises from initial recognition of an asset or liability in a transaction other than a business combination that, at the time of the transaction, affects neither accounting nor taxable profit or loss. Deferred tax is determined using tax rates that are expected to apply when the related deferred tax asset is realised or when the deferred tax liability is settled. Deferred tax assets are recognised to the extent that it is probable that future taxable profits will be available against which the temporary differences can be utilised.
2.7. Equity instruments
Ordinary shares are classified as equity. Costs directly attributable to the issue of new shares are shown in equity as a deduction from the proceeds.
2.8. Share based payments
For equity settled share-based payment transactions other than transactions with employees the Company measures the goods or services received at their fair value, unless that fair value cannot be estimated reliably. If this is the case the Company measures their fair values and the corresponding increase in equity, indirectly, by reference to the fair value of equity instruments granted.
The Company enters into arrangements that are equity-settled share-based payments. These are measured at fair value at the date of grant, which is then recognized in the statement of comprehensive income on a straight-line basis over the vesting period, based on the Company's estimate of shares that will eventually vest. Fair value is measured by use of an appropriate model. In valuing equity-settled transactions, no account is taken of any vesting conditions, other than conditions linked to the price of the shares of Lead All Investments Limited. The charge is adjusted at each balance sheet date to reflect the actual number of forfeitures, cancellations and leavers during the period. The movement in cumulative charges since the previous balance sheet is recognized in the statement of comprehensive income, with a corresponding entry in equity.
NOTES TO THE UNAUDITED INTERIM FINANCIAL RESULTS
FOR THE PERIOD TO 30 JUNE 2012
3. Share capital and options
On incorporation the Company had an authorised share capital of US$ 50,000 comprising 50,000 shares of a nominal value of US$1 each. On incorporation one share was issued fully paid at par value of US$1. On 11 August 2011 a further share of a nominal value of US$1 was issued at par, fully paid.
On 30 January 2012 the Company amended its authorised share capital from US$50,000 to GBP3,000,000 and US$2 divided into 300,000,000 shares of a par value of GBP0.01 each and two shares of a par value of US$1.00 each. On 30 January 2012 the Company repurchased 2 shares of a par value of US$1.00 each at par from the shareholders and simultaneously issued them two shares of a par value of GBP0.01 each at par, fully paid.
On 30 January 2012 the Company reduced its share capital to GBP3,000,000 divided into 300,000,000 shares of a par value of GBP0.01 each.
On admission of the Ordinary Shares to trading on AIM on 8 February 2012, 30,000,000 Ordinary Shares were placed at a price of GBP0.10 per share.
Share Capital Share Premium GBP GBP Authorised share capital 300,000,000 ordinary shares of GBP0.01 per share 3,000,000 - ________ ________ 3,000,000 - ======== ======== Issued and fully paid: 30,000,000 ordinary shares of GBP0.10 per share 300,000 2,700,000 less: share issue costs - (436,217) less: share based payment charge (105,360) ________ ________ 300,000 2,158,423 ======== ========
On 30 January 2012 the company entered into a deed of warrant with two parties, conditional upon Admission, to subscribe for 5% (1,500,000 shares) and 3% (900,000 shares) respectively, of the aggregate value of the Exercise Price of all new shares subscribed by investors on the Placing of shares. The shares are exercisable at any time up to five years from the date of Admission at the Placing price of GBP0.10. These shares were granted for services rendered relating to the Placing of shares on AIM.
Using the Black Scholes method, the fair value of these options was calculated to be GBP105,360 and the charge was shown as a deduction from the proceeds of the share issue.
In addition, pursuant to share option agreement dated 30 January 2012, conditional upon Admission, the Company has granted the Company's founder Mr. Zheng Zhuoxuan, an option to subscribe for 5,000,000 Ordinary Shares in the Company, at an exercise price of GBP0.02 per Ordinary Share. The option shall be exercisable by Mr. Zheng Zhuoxuan if either:
(i) the average daily closing share price of the Company over any four month period is equal to or in excess of GBP0.20 per Ordinary Share; or
(ii) the net asset value of each Ordinary Share (as determined by the auditors of the Company) on (a) the Business Day immediately before the Company's financial year end and (b) the Business Day which is six calendar months after that date is equal to or in excess of GBP0.20 per Ordinary Share.
NOTES TO THE UNAUDITED INTERIM FINANCIAL RESULTS
FOR THE PERIOD TO 30 JUNE 2012
3. Share capital and options (continued)
In addition, pursuant to share option agreement dated 30 January 2012, conditional upon Admission, the Company has granted Mr. Ahmad Nasri an option to subscribe for 10,000,000 Ordinary Shares in the Company, at an exercise price of GBP0.02 per Ordinary Share. The option shall be exercisable by Mr. Ahmad Nasri if either:
(i) the average daily closing share price of the Company over any four month period is equal to or in excess of GBP0.30 per Ordinary Share; or
(ii) the net asset value of each Ordinary Share (as determined by the auditors of the Company) on (a) the Business Day immediately before the Company's financial year end and (b) the Business Day which is six calendar months after that date is equal to or in excess of GBP0.30 per Ordinary Share.
The share options granted to Mr. Zheng Zhuoxuan and Mr. Ahmad Nasri are in acknowledgement of the start-up monies provided to the company.
At the period end, none of the 17,400,000 share options have been exercised.
4. Loss per share
Basic loss per share is calculated by dividing the losses attributable to the Company's shareholders by the weighted average number of ordinary shares in issue during the period from incorporation to 30 June 2012.
GBP Loss for the period (80,126) Weighted average number of shares for the period 12,203,391 Loss per share (0.66) ========
Potential Ordinary Shares of 17,400,000 (being the outstanding share options) have been excluded from the computation of diluted loss per share as the shares are anti-dilutive.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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