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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Neuropharm | LSE:NPH | London | Ordinary Share | GB00B1NPJJ01 | ORD 10P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 11.50 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
Officer on pages 2 to 4, in light of continued uncertainty as to whether an offer will be made for Neuropharm and the costs associated with maintaining the quotation of the Company's securities on AIM and the continued operation of the business, the Board has resolved to explore a return of cash to shareholders. This could be achieved by way of a proposal to shareholders for a Members' Voluntary Liquidation of the AIM quoted company, Neuropharm Group plc, within the next two months and the potential realisation of value from the sale of Neuropharm Limited, the operating company, or the programmes in its portfolio. In anticipation of either a sale of the Company or Neuropharm Limited or its programmes, or a Members' Voluntary Liquidation, the Board has also decided to give notice to all employees including the three Executive Directors. Whilst there are inherent uncertainties regarding the discussions with third parties, alternatives for funding and/ or consideration of a potential return of cash to shareholders from proposal for a Members' Voluntary Liquidation of Neuropharm Group plc, together with sale of Neuropharm Limited or its programmes, the Directors are satisfied that there is sufficient discretion and control as to the timing and quantum of cash outflows to ensure that the Group is able to meet its liabilities as they fall due for at least the next 12 months. Therefore, having made relevant and appropriate enquiries, including consideration of the Group's current cash resources and the cash flow forecasts, the Board has a reasonable expectation that, at the time of approving the financial statements, the Group has adequate resources to continue in operational existence for at least the next 12 months. Accordingly, the Board continues to adopt the going concern basis in preparing the financial statements. 3. BUSINESS AND GEOGRAPHICAL SEGMENTS The Directors consider there to be one business segment for reporting purposes as the Group conducts one business activity and operates primarily from the United Kingdom, where the majority of net assets are located. The loss on ordinary activities before taxation derives from the Group's principal activity in the United Kingdom, being the discovery, development and commercialisation of medicines for the treatment and management of neurodevelopmental disorders. 4. OTHER GAINS AND LOSSES +---------------------------------------------+---------+---------+---------+ | | Six | Six | Year | | | months | months | ended | | | ended | ended | 30 | | | 31 Dec | 31 Dec | June | | | 2009 | 2008 | 2009 | | | GBP'000 | GBP'000 | GBP'000 | +---------------------------------------------+---------+---------+---------+ | | | | | +---------------------------------------------+---------+---------+---------+ | Gain / (loss) on foreign exchange | (11) | 530 | 514 | | transactions and balances | | | | +---------------------------------------------+---------+---------+---------+ | Gain on forward foreign currency contracts | - | 189 | 179 | +---------------------------------------------+---------+---------+---------+ | | (11) | 719 | 693 | +---------------------------------------------+---------+---------+---------+ 5. LOSS PER SHARE Basic loss per share is calculated by dividing the earnings attributable to ordinary shareholders by the weighted average number of ordinary shares outstanding during the half-year. As at the period end there were outstanding options over 4,484,948 ordinary shares (six months ended 31 December 2008: 4,831,485 ordinary shares; year ended 30 June 2009: 4,784,948 ordinary shares) in the Company. IAS 33 "Earnings per Share" requires presentation of diluted earnings per share when a company could be called upon to issue shares that would decrease net profit or increase net loss per share. Only options that are 'in the money' are treated as dilutive and net loss per share would not be increased by the exercise of these options. Therefore no adjustment has been made to dilute loss per share for any outstanding share options. The calculation of the basic and diluted loss per share is based on the following data: +---------------------------------------------+------------+------------+------------+ | | Six | Six | Year | | | months | months | ended | | | ended | ended | 30 | | | 31 Dec | 31 Dec | June | | | 2009 | 2008 | 2009 | | | GBP'000 | GBP'000 | GBP'000 | +---------------------------------------------+------------+------------+------------+ | Loss | | | | +---------------------------------------------+------------+------------+------------+ | Loss for the purposes of basic and diluted | 1,225 | 3,458 | 5,884 | | loss per share being net loss attributable | | | | | to equity holders of the parent | | | | +---------------------------------------------+------------+------------+------------+ | | Number | Number | Number | +---------------------------------------------+------------+------------+------------+ | Number of shares | | | | +---------------------------------------------+------------+------------+------------+ | Weighted average number of ordinary shares | 31,536,697 | 31,536,697 | 31,536,697 | | for the purposes of the basic and diluted | | | | | loss per share | | | | +---------------------------------------------+------------+------------+------------+ 6. INTANGIBLE ASSETS +------------------------------------------------------+---------------+ | | Acquired | | | intellectual | | | property | | | rights | | | GBP'000 | +------------------------------------------------------+---------------+ | Cost or valuation | | +------------------------------------------------------+---------------+ | Balance as at 1 July 2008 | 50 | +------------------------------------------------------+---------------+ | Additions | - | +------------------------------------------------------+---------------+ | | | +------------------------------------------------------+---------------+ | Balance as at 31 December 2008 | 50 | +------------------------------------------------------+---------------+ | Additions | - | +------------------------------------------------------+---------------+ | | | +------------------------------------------------------+---------------+ | Balance as at 30 June 2009 | 50 | +------------------------------------------------------+---------------+ | Additions | - | +------------------------------------------------------+---------------+ | | | +------------------------------------------------------+---------------+ | Balance as at 31 December 2009 | 50 | +------------------------------------------------------+---------------+ | | | +------------------------------------------------------+---------------+ | Accumulated amortisation and impairment | | +------------------------------------------------------+---------------+ | Balance as at 1 July 2008 | 8 | +------------------------------------------------------+---------------+ | Amortisation expense for the period | 2 | +------------------------------------------------------+---------------+ | Impairment loss charged to income statement | 40 | +------------------------------------------------------+---------------+ | Balance as at 31 December 2008 | 50 | +------------------------------------------------------+---------------+ | | | +------------------------------------------------------+---------------+ | Amortisation expense for the period | - | +------------------------------------------------------+---------------+ | Balance as at 30 June 2009 | 50 | +------------------------------------------------------+---------------+
1 Year Neuropharm Chart |
1 Month Neuropharm Chart |
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