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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Ludorum | LSE:LUD | London | Ordinary Share | GB00B0ZH1L34 | ORD1P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 20.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
+------------------------------------------------+-----------------+ | | | +------------------------------------------------+-----------------+ | Accumulated amortisation | | +------------------------------------------------+-----------------+ | At 1 January 2010 | 275 | +------------------------------------------------+-----------------+ | Charge for the period | 111 | +------------------------------------------------+-----------------+ | At 30 June 2010 | 386 | +------------------------------------------------+-----------------+ | | | +------------------------------------------------+-----------------+ | Net book value at 30 June 2010 | 2,362 | +------------------------------------------------+-----------------+ | | | +------------------------------------------------+-----------------+ +------------------------------------------------+-----------------+ | | Capitalised | | | development | | | costs | +------------------------------------------------+-----------------+ | | GBP000 | +------------------------------------------------+-----------------+ | 30 June 2009 | | +------------------------------------------------+-----------------+ | | | +------------------------------------------------+-----------------+ | Cost | | +------------------------------------------------+-----------------+ | At 1 January 2009 | 1,526 | +------------------------------------------------+-----------------+ | Additions | 320 | +------------------------------------------------+-----------------+ | At 30 June 2009 | 1,846 | +------------------------------------------------+-----------------+ | | | +------------------------------------------------+-----------------+ | Accumulated amortisation | | +------------------------------------------------+-----------------+ | At 1 January 2009 | 49 | +------------------------------------------------+-----------------+ | Charge for the period | 126 | +------------------------------------------------+-----------------+ | At 30 June 2009 | 175 | +------------------------------------------------+-----------------+ | | | +------------------------------------------------+-----------------+ | Net book value at 30 June 2009 | 1,671 | +------------------------------------------------+-----------------+ 4. Borrowings The following borrowings are included in trade and other liabilities: +--------------------------+----------+----------+---------+ | | 30 June | 31 | 30 June | | | 2010 | December | | | | | 2009 | 2009 | +--------------------------+----------+----------+---------+ | | GBP000 | GBP000 | GBP000 | +--------------------------+----------+----------+---------+ | | | | | +--------------------------+----------+----------+---------+ | Bank overdraft | 125 | 56 | 251 | +--------------------------+----------+----------+---------+ | Fixed interest rate loan | 1,500 | 1,127 | 661 | +--------------------------+----------+----------+---------+ | | 1,625 | 1,183 | 912 | +--------------------------+----------+----------+---------+ | | | | | +--------------------------+----------+----------+---------+ | Undrawn borrowing | | | | | facilities | | | | +--------------------------+----------+----------+---------+ | Bank overdraft | 375 | 244 | 49 | +--------------------------+----------+----------+---------+ | Fixed interest rate loan | - | - | 539 | +--------------------------+----------+----------+---------+ | | 375 | 244 | 588 | +--------------------------+----------+----------+---------+ In March 2010 the Company obtained overdraft facilities of GBP500,000 from Coutts & Co. The overdraft is secured by a first charge over the Company's assets (including the Company's intellectual property). In March 2010 the Company also issued GBP1.5m of loan notes to Pennine AIM VCT PLC. The loan notes are redeemable within five years. If the Company redeems the loan notes within two years the redemption will be GBP1.25 per GBP1 of loan notes (less interest paid prior to redemption). If the loan notes are redeemed after two years the loan notes are redeemable at par. The interest payable on the loan notes is the greater of 9% or 3% above LIBOR for the first three years. After three years, the interest rate is 15%. The loan notes are secured by a second charge over the Company's assets (and a charge over the assets of Ludorum Enterprises Limited, a wholly owned subsidiary of the Company). In March 2010 the Company also repaid the outstanding balance on its fixed interest loan from Clydesdale Bank. The Group also changed its bankers from Clydesdale Bank to Coutts & Co. 5. Related party transactions Ludorum Inc, a group company, rented an office from a company controlled by Richard Rothkopf, a director of the company. This arrangement ceased in 2009. The rent payable during the current period was GBPnil (30 June 2009: GBP4,600). Included in trade and other liabilities at 30 June 2010 is GBP22,500 in respect of unpaid remuneration (and the associated employer's National Insurance payable) owed to directors of the company (30 June 2009: GBPnil, 31 December 2009: GBPnil). 6. Commitments In 2007 the company entered into an agreement with a toy manufacturer under the terms of which the toy manufacturer agreed to fund 50% of the production cost of the company's animated series "Chuggington" in return for which it has a global master toy licence and the right to participate in the net profit of the property. The agreed budget for the production of the first series of 52 episodes was $6.3 million (GBP3.15 million). Production of the first 52 episodes was completed in early 2009. The company and the toy manufacturer have now agreed to jointly fund, on the same terms as the first series, the production of a second series of 26 episodes of Chuggington. The budget for the second series is $5 million (GBP3.3 million). It is expected that all the episodes in the second series will be completed by autumn 2010. In 2009, the company entered into a further agreement with Shanghai Motion Magic Digital Entertainment Inc ("Motion Magic") under the terms of which Motion Magic is to provide animation and editing services for the production of a second series of 26 episodes of Chuggington. The company is committed to pay between RMB 13.8 million and RMB 14.4 million (between GBP1.35m and GBP1.4m) As at 30 June 2010, the company had paid RMB 1 million (GBP92,000). Under the terms of the agreement with the toy manufacturer described above, 50% of the amount paid and payable to Motion Magic has been or will be refunded to the company by the toy manufacturer. 7. Post balance sheet events In July 2010 the company placed 470,000 ordinary shares at a price of GBP3 per share. This information is provided by RNS The company news service from the London Stock Exchange END IR EAXNNALDEEFF
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