We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Register for streaming realtime charts, analysis tools, and prices.
| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| New Media | LSE:NMLS | London | Ordinary Share | IE00B0RB0055 | ORD 2/3P |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 1.125 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
TIDMNMLS
RNS Number : 5009M
New Media Lottery Services PLC
30 January 2009
30 JANUARY 2009
NEW MEDIA LOTTERY SERVICES PLC
("NMLS" or "the Company")
(Ticker:NMLS)
Unaudited Interim Results for the six months ended 31 October 2008
The Board of New Media Lottery Services PLC, the gaming content and systems
provider, today announces its interim results for the six months ended 31
October 2008.
KEY POINTS
* Revenue up 25.4% to EUR467,929 (six months to 31 October 2007: EUR373,238);
* Client lottery website sales up by 7.0% to EUR10.926m (six months to 31 October
2007: EUR10.217m);
* Corresponding client player deposits increased by 34.6% to EUR1.032m (31 October
2008: EUR766,600);
* Losses for the six months of EUR2.308m (2007 loss: EUR916,303); and
* Raised EUR1.3 million (before expenses) by way of a secured convertible loan from
Trafalgar Capital Specialized Investment Fund.
BUSINESS HIGHLIGHTS
* Rehab Lottery Group represented the sole revenue generating programme throughout
the period;
* Launch of www.RehabGames.com in Ireland providing a full variety of entertaining
lottery products;
* NMLS continues to pursue lottery opportunities and expects to announce
additional contracts throughout 2009; and
* Appointment of Jane Dresner Sadaka to the Board as non-executive director.
POST PERIOD HIGHLIGHTS
* Launch of a new online bingo and lottery game partnership with the UK based
Irish Post newspaper and Rehab Lotteries - CelticBingo.com; and
* Raised EUR1.15 million (before expenses) by way of a secured convertible loan from
Trafalgar Capital Specialized Investment Fund.
Lord Mancroft, Non-Executive Chairman at NMLS, commented: "NMLS has developed
well during this difficult period and continues to strengthen it credentials as
a leading gaming content provider. During the period we successfully launched a
new gaming site www.RehabGames.com throughout Ireland. We have prepared for the
roll out of CelticBingo.com throughout England in partnership with The Irish
Post Newspaper. The Company expects the launch to be a success and we intend to
follow up with a series of new 'channel' opportunities that NMLS has agreed.
Those opportunities will help to develop and extend the RehabBingo.com brand
across the UK and Ireland."
Commenting on the results, John Carson, Chief Executive Officer at NMLS, said:
"These results reflect a very busy six months for the company. New Media is
developing in line with our corporate strategy and we expect 2009 to be a
successful year as we expand the range of our products throughout both Ireland
and the UK."
=--ends---
Enquiries:
New Media Lottery Services PLC (001) 540 437 1688
John Carson
www.nmlsplc.com
Bishopsgate Communications Ltd 020 7562 3350
Nick Rome
Michael Kinirons
www.bishopsgatecommunications.com
Zimmerman Adams International Ltd 020 7060 1760
Ray Zimmerman
Jonathan Evans
www.zimmint.com
CHAIRMAN'S STATEMENT
I am pleased to present NMLS' interim results for the six months ended 31
October 2008. The Company has continued to progress during the period and
performance is in line with our expectations.
As a content and systems provider, NMLS provides white label lottery gaming
platforms to a number of International Lottery programmes including charities,
sports associations and state lottery organisations. Unlike many internet gaming
companies, NMLS only works with legitimate Government sanctioned Lottery
Programmes. It does not market to players in jurisdictions with regulatory
uncertainties such as North America.
Financials
Client site sales for the current period were EUR10.926m, compared to EUR10.217m for
the same period last year equaling a 7% increase in overall client site sales.
The resulting net revenue to the company for this period was EUR467, 929 compared
to EUR373, 238 for six months to 31 October 2007, an increase of 25.4% in company
revenue.
Administrative expenses were EUR1.486m, compared to EUR1.325m for the six months to
31 October 2007. Administrative expenses rose during the period due to an
increased focus on developing and rolling out our strategy across Ireland and
the UK.
Losses for the six months to 31 October 2008 were EUR2.308m (loss of EUR916,303 in
the six months to October 2007). The significant increase in losses were mostly
a result of foreign exchange losses amounting to EUR836,405 as opposed to gains of
EUR162,237 in 2007. Also, the company incurred a further loss of EUR298,800 in
additional finance costs compared to the six months to 31 October 2007 following
the additional secured convertible loans as noted below.
In June 2008 the Company raised EUR1.3 million by way of a secured convertible
loan from Trafalgar Capital Specialized Investment Fund. The company raised a
further EUR1.15 million in November by way of a secured convertible loan from
Trafalgar Capital Specialized Investment Fund.
Review and Current Prospects
NMLS has continued to develop well during the period in review.In June 2008 we
launched a new gaming site, www.RehabGames.com in Ireland. The site offers a
full variety of entertaining lottery products and an aggressive roll out of
additional digital lottery format games was completed in this period. We have
ensured that the site is capable of adding new digital games formats and designs
with different price points offering a new approach for traditional lottery
products. This allows us the flexibility to develop the site in accordance with
market trends and conditions thus providing a comprehensive consumer driven web
site.
The RehabBingo.com site, integrates community and social based applications
which allow for multi player game interaction that enhances the playing
experience. Through the community element players are able to incorporate a
social networking aspect widening their social circle in a relaxed and fun
online environment.
In December 2008, NMLS announced a new online bingo and lottery gaming
partnership with the UK based Irish Post newspaper and Rehab Lotteries. NMLS
will white label the successful RehabBingo.com site to launch the
'CelticBingo.com' brand in the UK. The partnership is the first of a series of
new 'channel' opportunities that NMLS has agreed which will help to develop and
extend the RehabBingo.com brand across the UK and Ireland.
Throughout the coming year NMLS will develop a series of new 'channel'
opportunities so as to extend the lottery services across the UK and Ireland.
The company is also assessing a number of opportunities which will both
complement and add to the current NMLS offering.
I would like to take this opportunity to thank our staff for their support over
this busy period and look forward to updating investors further as to our
progress at the time of our final results.
Lord B. Mancroft
Chairman
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Consolidated Income Statement |
+----------------------------------------------------------------------------------------------------------------+
| for the 6 months ended 31st October 2008 |
+----------------------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | Continuing Operations |
+--------------------------------+------+------------------------------------------------------------------------+
| | | Interim 6 | YE | Interim | YE |
| | | Months | | 6 | |
| | | | | Months | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | Unaudited | Audited | Unaudited | Audited |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| |Note | Oct-08 | Apr-08 | Oct-07 | Apr-07 |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | EUR | EUR | EUR | EUR |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Revenue | 9 | 467,929 | 863,099 | 373,238 | 432,695 |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Administrative Expenses | | -1,486,178 | -2,892,654 | -1,324,669 | -3,130,624 |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Operating Loss before foreign | -1,018,249 | -2,029,555 | -951,431 | -2,697,929 |
| exchange costs | | | | |
+---------------------------------------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Foreign Exchange Gains and | | -836,405 | 441,506 | 162,237 | 140,574 |
| Losses | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Operating Loss before Finance | | -1,854,655 | -1,588,049 | -789,194 | -2,557,355 |
| Costs | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Finance Costs | | -452,909 | -246,292 | -127,109 | -139,125 |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Loss on Ordinary Activities before | -2,307,564 | -1,834,341 | -916,303 | -2,696,480 |
| Taxation | | | | |
+---------------------------------------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Tax on Loss on Ordinary | | 0 | 0 | 0 | 0 |
| Activities | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Loss for the period | | | | | |
| attributable to | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Equity Shareholders | | -2,307,564 | -1,834,341 | -916,303 | -2,696,480 |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Basic Loss per Ordinary Share | | -EUR0.09 | -EUR0.07 | -EUR0.04 | -EUR0.11 |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| Diluted Loss per Ordinary | | -EUR0.09 | -EUR0.07 | -EUR0.04 | -EUR0.11 |
| Share | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
| | | | | | |
+--------------------------------+------+-------------+------------+------------------------------+--------------+
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Consolidated Balance Sheet |
+---------------------------------------------------------------------------------------------------+
| as at 31st October 2008 |
+---------------------------------------------------------------------------------------------------+
| | | | | |
+--------------------------------+------+--------------+--------------+-----------------------------+
| | | Interim 6 | YE | Interim 6 | YE |
| | | Months | | Months | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | Unaudited | Audited | Unaudited | Audited |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| |Note | Oct-08 | Apr-08 | Oct-07 | Apr-07 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Non-Current Assets | | EUR | EUR | EUR | EUR |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Property, Plant and Equipment | | 20,023 | 26,663 | 24,085 | 33,789 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Intangible Assets | | 143,195 | 143,518 | 206,533 | 230,967 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | 163,218 | 170,181 | 230,618 | 264,756 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Current Assets | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Trade and Other Receivables | | 303,763 | 324,981 | 352,766 | 460,023 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Cash and Other Equivalents | | 68,627 | 132,896 | 114,642 | 115,387 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | 372,390 | 457,877 | 467,409 | 575,410 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Total Assets | | 535,609 | 628,058 | 698,026 | 840,166 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Equity and Liabilities | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Equity attributable to equity holders of the | | | |
| Parent | | | |
+------------------------------------------------------+--------------+--------------+--------------+
| Issued Share Capital | 3 | 244,920 | 242,822 | 241,618 | 241,618 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Share Premium | 4 | 3,920,188 | 3,881,372 | 3,845,565 | 3,845,566 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Merger Reserve | 5 | 539,377 | 539,377 | 539,377 | 539,377 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Other Reserve | 6 | 209,250 | 7,805 | - | - |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Accumulated Loss | 7 | -10,936,274 | -8,628,710 | -7,710,672 | -6,794,368 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Total Equity | | -6,022,539 | -3,957,333 | -3,084,112 | -2,167,807 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Current Liabilities | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Trade and Other Payables | | 866,456 | 736,354 | 507,888 | 524,730 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Bank Loan | 8 | 1,945,525 | 1,220,452 | 1,727,951 | 1,281,113 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Other Liabilities | | 3,746,166 | 2,243,180 | 1,546,299 | 1,202,130 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | 6,558,148 | 4,199,986 | 3,782,138 | 3,007,973 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Non-Current Liabilities | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Other Liabilities - Bank Loan | 8 | - | 385,406 | - | - |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Total Liabilities | | 6,558,148 | 4,585,392 | 3,782,138 | 3,007,973 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Total Equity and Liabilities | | 535,609 | 628,059 | 698,026 | 840,166 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Consolidated Cash Flow Statement |
+--------------------------------------------------------------------------------------------------+
| for the 6 months ended 31st October 2008 |
+--------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| | | Interim 6 | YE | Interim 6 | YE |
| | | Months | | Months | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| | | Unaudited | Audited | Unaudited | Audited |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| | | Oct-08 | Apr-08 | Oct-07 | Apr-07 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| | | EUR | EUR | EUR | EUR |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Cash Outflow from Operating | | | | |
| Activities | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| Operating Loss before Tax | | -2,307,564 | -1,834,341 | -916,303 | -2,696,480 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Depreciation | | 6,725 | 17,183 | 9,704 | 18,777 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Intangible Assets Amortised | | 27,844 | 68,551 | 34,013 | 31,352 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Decrease/(Increase) in debtors | | 21,231 | 135,042 | 107,257 | -132,855 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Increase/(Decrease) in | | 130,089 | 211,624 | -16,841 | -94,310 |
| creditors | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Costs incurred in exchange for | | 242,360 | 44,815 | - | 31,002 |
| shares | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Loss on Disposal | | - | 34,481 | - | - |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Finance Charges | | 452,909 | 246,292 | 127,109 | 139,125 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Net Cash Outflow from Operating | -1,426,407 | -1,076,354 | -655,061 | -2,703,389 |
| Activities | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Cashflow from Investing | | | | | |
| Activities | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Purchase of Property, Plant and | -27,606 | -25,641 | -9,581 | -19,202 |
| Equipment | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| Purchase of Intangible Assets | | | 0 | 0 | -59,542 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Amounts advanced to Joint | | | 0 | 0 | -7,825 |
| Venture | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Net Cashflow used in Investing | -27,606 | -25,641 | -9,581 | -86,569 |
| Activities | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Cashflows from Financing | | | | | |
| Activities | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Proceeds from the Issue of | | - | - | - | - |
| Shares | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Transaction Costs on the Issue | | - | - | - | - |
| of Shares | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Loan / Debenture Proceeds | | 1,842,653 | 1,365,796 | 791,006 | 1,281,113 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Finance Costs | | -452,909 | -246,292 | -127,109 | -139,125 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Net Cashflows from Financing | 1,389,744 | 1,119,504 | 663,896 | 1,141,988 |
| Activities | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Net (decrease) / increase in cash | | | | |
| and | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| cash equivalents | | -64,269 | 17,509 | -745 | -1,647,970 |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Cash and cash equivalents at | 132,896 | 115,387 | 115,387 | 1,763,357 |
| beginning of period | | | | |
+--------------------------------------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
| Cash and cash equivalents at end of | 68,627 | 132,896 | 114,642 | 115,387 |
| period | | | | |
+--------------------------------+-----+--------------+--------------+--------------+--------------+
+--------------------------------+---+--+--------------+--------------+--------------+--------------+
| Notes to the Consolidated Balance Sheet |
+---------------------------------------------------------------------------------------------------+
| for the 6 months ended 31st October 2008 |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 1. Publication of Non-Statutory | | | | |
| Accounts | | | | |
| | | | | |
+---------------------------------------+--------------+--------------+--------------+--------------+
| The financial information set out in this draft statement, does not constitute statutory |
| accounts within the meaning of Section 150 of the Companies Act 1963. The financial |
| information for the full preceding period is based on the statutory accounts for the year |
| ended 30th April 2008. Those accounts, on which the auditors issued an unqualified |
| opinion, have been delivered to the registrar of Companies. |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 2. Accounting policies | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| The draft financial information has been prepared on the basis of the accounting policies |
| set out in the Group's statutory accounts for the year ended 30th April 2008. |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 3. Share Capital | | Interim 6 | YE | Interim 6 | YE |
| | | Months | | Months | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | Unaudited | Audited | Unaudited | Audited |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | Oct-08 | Apr-08 | Oct-07 | Apr-07 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Authorised Equity | | GBPGBP | GBPGBP | GBPGBP | GBPGBP |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 150,000,000 Ordinary Shares of | | | | |
| GBP0.66667 | | | | |
+---------------------------------------+--------------+--------------+--------------+--------------+
| pence each | | 1,000,000 | 1,000,000 | 1,000,000 | 1,000,000 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Allotted, called up and fully paid | EUR | EUR | EUR | EUR |
| equity | | | | |
+---------------------------------------+--------------+--------------+--------------+--------------+
| 25,184,350 Ordinary Shares of | | | | |
| GBP0.66667 | | | | |
+---------------------------------------+--------------+--------------+--------------+--------------+
| pence each (Apr 2008: 24,935,000) | | 244,920 | 242,822 | 241,618 | 241,618 |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| | | | | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| Share Capital Movement | | | EUR | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| Opening Balance May 1st 2008 | | | 242,822 | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| | | | | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| - 30 June 2008 | | | | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| Issue of 249,350 Ordinary | | | | | |
| Shares | | | | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| of GBP0.66667 pence each | | | 2,099 | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| Closing Balance October 31st 2008 | | | 244,920 | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| | | | | | |
+------------------------------------+--+--------------+--------------+--------------+--------------+
| In accordance with an agreement between the Company and Knightsbridge Capital, | |
| the | |
+------------------------------------------------------------------------------------+--------------+
| Company agreed to issue shares to Knightsbridge Capital in consideration of Knightsbridge |
| Capital arranging |
+---------------------------------------------------------------------------------------------------+
| the investment by Trafalgar Capital in the Company. This agreement requires the Company to |
| issue |
+---------------------------------------------------------------------------------------------------+
| 1 per cent. of its existing issued share capital (249,350 Ordinary Shares) to |
| Knightsbridge Capital. |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| The value of the shares issued are EUR40,915, creating a share premium on this | |
| issue of EUR38,816. | |
| | |
+------------------------------------------------------------------------------------+--------------+
| Notes to the Consolidated Balance Sheet |
+---------------------------------------------------------------------------------------------------+
| for the 6 months ended 31st October 2008 |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 4. Share Premuim | | | EUR | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Opening Balance May 1st 2008 | | | 3,881,372 | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| - June 2008 | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Issue of 249,350 Ordinary | | | | | |
| Shares | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| of GBP0.66667 pence each | | (note 3) | 38,816 | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Closing Balance October 31st | | | 3,920,188 | | |
| 2008 | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 5. Merger Reserve | | | EUR | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Opening Balance May 1st 2008 | | | 539,377 | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| No Movement | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Closing Balance October 31st | | | 539,377 | | |
| 2008 | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 6. Other Reserves | | | EUR | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Opening Balance May 1st 2008 | | | 7,805 | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| August 2008 - | | | 201,445 | | |
| see below | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Closing Balance October 31st | | | 209,250 | | |
| 2008 | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| The Board of NMLS announced the issue of 600,000 options on the 25th August 2008 to |
| certain directors |
+---------------------------------------------------------------------------------------------------+
| of the Company as set out in the table below: | | | |
| | | | |
+------------------------------------------------------+--------------+--------------+--------------+
| Director | | Quantity | | Option | |
| | | | | Exercise | |
| | | | | Price | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Milton Dresner | | 200,000 | | 3p | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| John T. Carson | | 300,000 | | 20p | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Nigel Blythe-Tinker | | 100,000 | | 20p | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | 600,000 | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| The above options total approximately 2.38% of the current issued capital. The options |
| issued to Milton Dresner |
+---------------------------------------------------------------------------------------------------+
| are in consideration of his having guaranteed certain bank loans to the Company. John T. |
| Carson and Nigel |
+---------------------------------------------------------------------------------------------------+
| Blythe-Tinker's options have been issued as part of their ongoing long-term | |
| incentive packages. | |
+------------------------------------------------------------------------------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| In addition to the above options to directors, a further 200,000 options were issued to |
| Joe Dresner in consideration |
+---------------------------------------------------------------------------------------------------+
| of his having guaranteed certain bank loans to the Company, a further 180,000 options have |
| been issued to five |
+---------------------------------------------------------------------------------------------------+
| employees of the Company, with all exercisable at 15p each and a further 25,000 options |
| have been awarded to |
+---------------------------------------------------------------------------------------------------+
| another employee of the Company that are exercisable at 1p each. | | |
+---------------------------------------------------------------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 7. Accumulated Reserves | | | EUR | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Opening Balance May 1st 2008 | | | -8,628,710 | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Unaudited results - PE | | | -2,307,564 | | |
| October | | | | | |
| 2008 | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Closing Balance October 31st 2008 | | -10,936,274 | | |
+---------------------------------------+--------------+--------------+--------------+--------------+
| |
+---------------------------------------------------------------------------------------------------+
| Notes to the Consolidated Balance Sheet |
+---------------------------------------------------------------------------------------------------+
| for the 6 months ended 31st October 2008 |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 8. Bank Loan | | | USD$ | | EUR |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Opening Balance May 1st 2008 | | | 2,500,000 | | 1,945,525 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Movement during period | | | - | | - |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Closing Balance October 31st 2008 | | 2,500,000 | | 1,945,525 |
+---------------------------------------+--------------+--------------+--------------+--------------+
| Due within one year | | | 2,500,000 | | 1,945,525 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Due after one year | | | - | | - |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | 2,500,000 | | 1,945,525 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| The above loan is with Comerica Bank. The loan is payable in US Dollars. For |
| clarification purposes, the balances are shown in both Dollars and Euros. |
+---------------------------------------------------------------------------------------------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| 9. Revenue Analysis | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | Interim 6 | YE | Interim 6 | YE |
| | | Months | | Months | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | Unaudited | Audited | Unaudited | Unaudited |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | Oct-08 | Apr-08 | Oct-07 | Apr-07 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | EUR | EUR | EUR | EUR |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Turnover from client sites | | 465,798 | 848,379 | 365,886 | 415,797 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| Interest Income | | 2,131 | 14,720 | 7,352 | 16,898 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | 467,929 | 863,099 | 373,238 | 432,695 |
+--------------------------------+------+--------------+--------------+--------------+--------------+
| | | | | | |
+--------------------------------+---+--+--------------+--------------+--------------+--------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR CKCKPOBKDBDB
1 Year New Media Chart |
1 Month New Media Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
