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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Mondial English | LSE:MEH | London | Ordinary Share | IL0010830136 | ORD ILS0.1 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 0.00 | - |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
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RNS Number:5615E
Mondial English Holdings Limited
26 September 2007
MONDIAL ENGLISH HOLDINGS LTD
============================
ANNOUNCEMENT
============
RESULTS-6 MONTHS ENDED 30 JUNE 2007
===================================
I report that the Group made a loss, both before and after tax, for the six
months ended 30 June 2007 of #, 51,000 (2006 restated loss #37,000) on a
turnover of #NIL (2006 restated #NIL) No dividend is proposed for the period
(2006 Nil).
FUTURE
======
The Company is a "shell" and the Board has continued to actively seek suitable
takeover targets. Negotiations for a reverse takeover are now at an advanced
stage and an announcement will be made as soon as a contract has been agreed.
John Corre
Chairman 26 September 2007
For further information please contact:
Mondial English Holdings Ltd
John Corre, Chairman
Tel: +972 5446 02253
HB Corporate
Jim McGeever, Director Corporate Finance
Tel: +44 (0)20 7510 8600
Mondial English Holdings Ltd
============================
Summarised Consolidated Profit and Loss Accounts
================================================
Unaudited Unaudited Audited
6 months ended 6 months ended Year ended
30 June 2007 30 June 2006 31 December 2006
#'000 #'000 #'000
Turnover NIL NIL NIL
Operating Loss (44) (35) (70)
Financial expenses (7) (2) (4)
Gain from disposal of subsidiary - - 37
Loss on ordinary activities (51) (37) (37)
----- ----- -----
Loss per share (pence) ( 0.0015) (0.011) (0.0015)
NOTES:
1.There are no recognised gains and losses other than the profits and losses
above and therefore no separate statement of total recognised gains and losses
has been presented.
2. The results for the 6 months to 30 June 2006 have been restated to reflect
the sale of all trading subsidiaries in September 2006.
The accompanying notes are an integral part of the financial statements
Mondial English Holdings Ltd
============================
Balance Sheets
==============
Unaudited Unaudited Audited
6 months ended 6 months ended Year ended
30 June 2007 30 June 2006 31 December 2006
#'000 #'000 #'000
Non-current assets
==================
Tangible Fixed Assets - 49 -
Long-term trade receivables - - -
- 49 -
----- ----- -----
Current assets
==============
Stock - 228 -
Trade receivables - 114 -
Other receivables - - 2
Cash and cash equivalents - 4 -
- 346 2
----- ----- -----
Current liabilities
===================
Short-term credits 16 502 11
Short-term loan from director 89 - 33
Short-term loan from investor - 79 -
Trade creditors - 71 -
Other creditors 13 374 19
118 1,026 63
----- ----- -----
Net current liabilities (118) (680) (61)
======================= ----- ----- -----
Non-current liabilities
=======================
Long-term bank loan,
less current maturities 25 - 31
Post-retirement benefits - 95 -
25 95 31
Net liabilities (143) (726) (92)
=============== ----- ----- -----
Deficiency in shareholders' Equity
==================================
Called up share capital 4,175 3,019 4,175
Share premium 450 518 450
Receipts on account of warrants 21 7 21
Profit and loss account (4,789) (4,270) (4,738)
Total deficiency in
===================
Shareholders' equity funds (143) (726) (92)
========================== ----- ----- -----
The accompanying notes are an integral part of the financial statements
Mondial English Holdings Ltd
============================
Cash Flow Statements
====================
Unaudited Unaudited Audited
6 months ended 6 months ended Year ended
30 June 2007 30 June 2006 31 December 2006
#'000 #'000 #'000
Net cash inflows/outflows
=========================
from operating activities
=========================
Adjustments for:
Operating Loss (51) (222) (74)
Exchange rate adjustment - 100 -
Depreciation of fixed assets - 10 -
Decreasein stock - 24 -
Decrease (increase) in trade
and other receivables (2) 14 (2)
Increase(Decrease) in creditors (4) (253) 11
Interest payable on loans 2 - 1
Net cash(outflows) from
=======================
operating activities (55) (327) (64)
==================== ----- ----- -----
Net cash inflows from discontinued
==================================
Activities - - (310)
==========
Investing activities
====================
Purchase of fixed assets - (6) -
Net cash outflows from
investing activities - (6) -
(333) (374)
----- -----
Financing activities
====================
Increase in short-term
credits, net 5 156 1
Receipt of long term loan 56 - 42
Receipt of short term loan - - 33
Repayments of long-term loan (6) (5) -
Repayment of short term loan - (40) -
Proceeds of issuance of shares - 300 298
Exchange rate adjustment - (77) -
Net cash inflows from
=====================
financing activities 55 334 374
====================- ------ ----- -----
Increase (decrease) in cash - 1 -
Cash and cash equivalents at
beginning of period - 3 -
Cash and cash equivalents at
end of period - 4 -
The accompanying notes are an integral part of the financial statements
Mondial English Holdings Ltd
============================
Notes to the Unaudited Interim Report at 30 June 2007
=====================================================
1. PUBLICATION OF NON-STATUTORY ACCOUNTS
These interim financial statements have been prepared as at 30 June 2007 and for
the six months then ended.
These statements should be reviewed together with the company's annual financial
statements as at 31 December 2006 (hereafter-"the annual statements") and for
the year then ended and the related notes. The financial information for the
full proceeding year is based on the statutory accounts for the financial year
ended 31 December 2006, upon which the auditors issued a qualified opinion,
stating that "The Company has not drawn up a consolidated statement of
operations for the period up to the realization of the investments in the
subsidiary companies in September 2006 due to lack of data as to the results of
their operations up to that date. Consolidated comparative data for prior years
have also not been included. In our opinion, the said data should be presented
in accordance with IFRS regulations".
2. BASIS OF PREPARATION OF INTERIM FINANCIAL INFORMATION
The interim financial information has been prepared on the basis of the
accounting policies set out in the Group's statutory accounts for the year ended
31 December 2006. Fixed annual charges are apportioned to the interim period on
the basis of time elapsed. Other expenses are accrued in accordance with the
same principles used in the preparation of the annual accounts.
3. EARNINGS PER SHARE
Earnings per share for the half year to 30 June 2007 have been calculated on the
net loss (2006-loss) after taxation and on 334,891,200(2006-207,949,533)
ordinary shares, being the weighted average number of ordinary shares in issue
throughout the period.
4. COPIES OF ACCOUNTS
A copy of the Interim Report and the Financial Statement will be posted to all
shareholders. Copies will also be available at the offices of the Company's
Nominated Advisors, HB Corporate, 40 Marsh Wall, London, E14 9TP and at the
Company's Registered Office, 8/3 Molcho Street, Jerusalem, Israel.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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