Emmit PLC Half-yearly Report -2-
September 30 2014 - 10:45AM
UK Regulatory
Called up Share Retained Total
Share Premium Earnings Equity
Capital
GBP'000 GBP'000 GBP'000 GBP'000
Balance at 1 January 2013 2,171 4,760 (8,775) (1,844)
Loss for period - - (258) (258)
------- ------ ------- -------
Balance at 30 June 2013 2,171 4,760 (9,033) (2,102)
Profit/(Loss) for the period - - 1,634 1,634
Issue of shares 35 296 - 331
------- ------ ------- -------
Balance at 31 December 2013 2,206 5,056 (7,400) (138)
Loss for the period - - (84) (84)
Issue of ordinary shares - 68 - 68
------- ------ ------- -------
Balance at 30 June 2014 2,206 5,124 (7,484) (154)
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Consolidated Statement of Cash flows
As at 30 June 2014
Six months Year Six months
to 30 June to 31 December to 30 June
2014 2013 2013
(Unaudited) (Audited) (Unaudited)
GBP'000 GBP'000 GBP'000
Cash flows from operating
activities
Loss before tax (78) (244) (136)
Creditors written of under the - 1,938 -
company voluntary arrangement
Loss on disposal of subsidiaries - (196) -
(Increase)/decrease in - 101 101
inventories
(Increase)/decrease in trade and 20 36 54
other
receivables
(Increase)/decrease in trade and (94) (1,502) (73)
other
payables
Increase/(decrease) in other 151 (386) -
loans
------- ------- -------
Net cash from operating (1) (253) (54)
activities
------- ------- -------
Cash flows from investing
activities
Purchase of intangible fixed - - -
assets
Purchase of tangible fixed assets - - -
------- ------- -------
- - -
------- ------- -------
Cash flows from financing
activities
New loans in the year - 44 -
Issue of equity - 331 -
Repayment of loan - - 155
Finance interest paid (6) (123) (122)
Disposal of patents and - 10 -
trademarks
------- ------- -------
Net cash from financing (6) 262 31
activities
------- ------- -------
Increase/(decrease) in cash and (7) 9 (21)
cash
equivalents
Cash and cash equivalents at the 30 21 21
beginning of period
------- ------- -------
Cash and cash equivalents at the 23 30 -
end of period
------ ------- -------
Notes to the Half Yearly Report
As at 30 June 2014
1. General Information
EMMIT PLC, formerly Eruma plc, is a public limited company incorporated and
domiciled in the United Kingdom with its shares listed on the AIM market of the
London Stock Exchange.
The company is now an investment company, having disposed of all its trading
subsidiaries in the previous financial period.
The interim financial statements for the period ended 30 June 2014 were
approved by the Board of Directors on 30 September 2014.
The financial information set out in this interim report does not constitute
statutory accounts as defined in Section 434 of the Companies Act 2006. The
Company's statutory financial statements for the year ended 31 December 2013,
prepared under International Financial Reporting Standards ("IFRS"), have been
filed with the Registrar of Companies. The auditor's report on those financial
statements was unqualified and did not contain statements under Sections 498(2)
and 498 (3) of the Companies Act 2006.
The interim financial information has been prepared using the accounting
policies set out in the Company's 2013 statutory accounts. Copies of the annual
statutory accounts and the interim report may be obtained by writing to the
company at Finsgate, 5-7 Cranwood Street, London, EC1V 9EE and can be found on
the Company's website at www.emmitplc.com.
2. Segmental Reporting
There was no trade during the eighteen months to 30 June 2014, thus no
segmental reporting is required.
3. Exceptional Items
There were no exceptional items during the period.
4. Earnings/(loss) per share
The calculation of earnings share is based on the net result and ordinary
shares in issue during the period as follows:
Six months Year Six months
to 30 June to 31 December to 30 June
2014 2013 2013
(Unaudited) (Audited) (Unaudited)
GBP'000 GBP'000 GBP'000
Loss for the financial
period
From continuing operations (84) (89) (258)
From discontinued - (278) -
operations
Weighted average shares in 2,832,045 480,017 219,466,498
issue in the period
Loss per share - pence
From continuing operations (2.98p) (18.54p) (1.30p)
From discontinued - (57.91p) -
operations
Diluted earnings per share has not been disclosed due to the anti-dilutive
effects of the potential ordinary shares on the basic earnings per share.
5. Share Capital
During the period the company had the following shares in issue:
Ordinary shares of
GBP0.0001 each
In issue 1 January 2014 1,993,763
Issue during the period 2,600,000
-------
In issue 30 June 2014 4,593,763
-------
Weighted average shares in issue in the period 2,832,045
END
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