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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Stallion Resour | LSE:SPSM | London | Ordinary Share | GB00B6SRX164 | ORD 0.03P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 0.075 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
TIDMSPSM
RNS Number : 6122A
Stallion Resources PLC
30 September 2015
30 September 2015
(Stallion Resources plc)
(the "Company")
Interim Unaudited Results for the period ended 30 June 2015
Stallion Resources plc is pleased to announce its unaudited results for the six months ended 30 June 2015.
Results for the period
The Company made a loss before tax of GBP91,157 for the six months to 30 June 2015 and cash balances held at 30 June 2015 were GBP70,765.
Review of activities
On 9 May 2014, the Company's shareholders approved a new Investing Policy which is to invest in and/or acquire companies and/or projects within the natural resources and/or energy sector with potential for growth. The Investing Policy states that the Company will also consider opportunities in other sectors as they arise if the Directors consider there is an opportunity to generate an attractive return for Shareholders. In selecting investment opportunities, the Directors will focus on businesses, assets and/or projects that are available at attractive valuations and hold opportunities to unlock embedded value.
As an Investing Company, the Company was required to make an acquisition or acquisitions which constitutes a reverse takeover under the AIM Rules or otherwise implement its proposed Investing Policy on or before the date falling twelve months from the adoption of the Investing Policy failing which, in accordance with the AIM rules, the Company's Ordinary Shares would then be suspended from trading on AIM. The Company's Board of Directors considered a wide range of investments throughout the reporting period, including conducting detailed due diligence and engaging in negotiations on several project opportunities, both in the natural resources sector but also in other unrelated sectors. However, as at 9 May 2015, being 12 months after the approval of the Company's Investing Policy, the Company had not implemented its Investing Policy or completed a reverse takeover. As such, the Company's shares were suspended from trading on 11 May 2015. The Company has a period of six months from 11 May 2015 to make a reverse takeover or implement the Company's Investing Policy in order for the Company's shares to recommence trading.
While the suspension of the Company's shares from trading is regrettable, the Company's Board of Directors has continued to work diligently with a view to ensuring that an appropriate transaction or transactions are consummated to enable trading to re-commence. We will keep shareholders appraised of developments.
On behalf of the Board on 30 September 2015.
David Ajemian
Non-Executive Chairman
For further information, please contact:
+44 20 3006 Stallion Resources plc 0260 George Frangeskides (Company Secretary) Sanlam Securities UK Limited (Nominated +44 20 7628 adviser and joint broker) 2200 Lindsay Mair/James Thomas Peterhouse Corporate Finance Limited +44 20 7469 (Joint broker) 0930 Duncan Vasey Eran Zucker
STALLION RESOURCES PLC
CONSOLIDATED INCOME STATEMENT
Period from 1 January 2015 to 30 June 2015
Unaudited Unaudited Audited 6 months 6 months Year ended ended ended 31 Dec 30 June 30 June 2014 2015 2014 EUR EUR EUR Revenue Cost of sales - - (1,329) Gross loss - - (1,329) Administrative expenses (91,157) (78,505) (182,556) Write-off of balances on disposal of investments - 209,860 - Share based payments - - (181,570) ----------- ---------- ------------ Operating (loss)/profit (91,157) 131,355 (365,455) Financial expenses - (8,278) (8,323) (Loss)/profit before income tax (91,157) 123,077 (377,778) Tax charge for the year - - (6,570) (Loss)/profit for the period from continuing operations (91,157) 123,077 (380,348) Profit from discontinued operations - - 265,031 (Loss)/profit attributable to the owners of the parent (91,157) 123,077 (115,317) ----------- ---------- ------------ Other comprehensive income Currency translation differences 6,113 762 (23,223) Total comprehensive (loss)/profit for the period attributable to owners of the parent (85,044) 123,839 (138,540) ----------- ---------- ------------ (Loss)/profit per share Basic and diluted (0.00p) 0.00p (0.00p) ----------- ---------- ------------
STALLION RESOURCES PLC
CONSOLIDATED BALANCE SHEET
As at 30 June 2015
Unaudited Unaudited Audited As at As at As at 30 June 30 June 31 Dec 2015 2014 2014 EUR EUR Assets Current assets Trade and other receivables 9,572 11,865 11,692 Cash and cash equivalents 70,765 365,040 124,459 Total Assets 80,337 376,905 136,151 ------------ ------------ ------------ Equity and Liabilities Equity attributable to owners of the parent Share capital 335,564 335,564 335,564 Share premium reserve 2,505,416 2,505,416 2,505,416 Share-based payments reserve 181,570 - 181,570 Retained losses (3,018,949) (2,554,399) (2,933,905) Total equity 3,601 286,581 88,645 ------------ ------------ ------------ Liabilities Current liabilities Trade and other payables 76,736 90,324 47,506 Total Equity and Liabilities 80,337 376,905 136,151 ------------ ------------ ------------
STALLION RESOURCES PLC
CONSOLIDATED STATEMENT OF CASH FLOWS
For the period from 1 January 2015 to 30 June 2015
Unaudited Unaudited Audited 6 months 6 months Year ended ended ended 31 Dec 30 June 30 June 2014 2015 2014 EUR EUR EUR Operating activities (Loss)/profit before taxation (91,157) 123,077 (373,778) Adjustments for: Finance costs - 8,278 14,785 Investment valuation adjustments - (209,860) (252,944) Share-based payments - - 181,570 Results of discontinued operations - - 265,031 Loss from operations before changes in workings capital (91,157) (91,784) (165,336) Decrease / (increase) in receivables 2,119 (1,915) (1,743) Increase / (decrease) in payables 29,230 (11,364) (12,622) ----------- ----------- ------------ Cash generated from operations (59,807) (91,784)) (179,701) Tax payable - - (6,570) ----------- ----------- ------------ Cash flow from operating activities (59,807) (91,784) (186,271) ----------- ----------- ------------ Cash flow from financing activities Interest payable - (8,278) (14,785) Proceeds from issue of share capital - 489,502 489,502 Share issue costs - (133,953) (133,953) ----------- ----------- ------------ Net cash inflow from financing activities - 347,271 340,764 ----------- ----------- ------------ Net cash (outflow)/inflow for the year (59,807) 255,487 154,493 ----------- ----------- ------------ Foreign exchange differences on translation 6,113 (762) (140,349) Cash and cash equivalents at the start of year 124,459 110,315 110,315 Cash and cash equivalents at the end of the year 70,765 365,040 124,459 ----------- ----------- ------------
STALLION RESOURCES PLC
NOTES TO THE INTERIM RESULTS ANNOUNCEMENTS
(Loss)/profit per share
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September 30, 2015 02:00 ET (06:00 GMT)
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