Mercer Resources PLC Interim Report (0092T)
September 30 2014 - 6:45AM
UK Regulatory
TIDMMCR
RNS Number : 0092T
Mercer Resources PLC
30 September 2014
Mercer Resources plc
("Mercer" or the "Company")
Interim Report
The board announces its unaudited interim results for the six
month period ended 30 June 2014
HIGHLIGHTS
Total comprehensive loss for the period GBP87,000 (2013:
GBP14,000)
GBP193,500 raised by placing 10,333,333 new ordinary shares and
GBP90,167 Convertible Loan Notes that will convert into 9,016,700
ordinary shares on full conversion
CHAIRMAN'S STATEMENT
Several potential transactions were reviewed during the period
in order to fulfil the Company's investing strategy but none were
deemed suitable to execute and put to the shareholders for
approval. Unfortunately this meant that the investing strategy
could not be met by 30 July 2014 and the Company's shares are as of
the date of this report suspended from trading on AIM.
The Board is continuing to review potential opportunities and
hopes to be able to announce a transaction and convene a
Shareholder meeting to approve a Reverse Takeover or otherwise
implement the Company's investing strategy to the satisfaction of
the Exchange...
The Board would like to thank shareholders for their continued
support and patience during the period.
Trevor Wells
Non-Executive Chairman
For further information please see www.mercerresources.com or
contact:
Mercer Resources plc
Trevor Wells 020 3301 9331
Nominated Adviser
Matthew Robinson
finnCap Limited 20 7220 0500
Broker
Lucy Williams/Heena Karani
Peterhouse Corporate Finance Limited 020 7469 0932
UNAUDITED CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
for the six months to 30 June 2013
6 Months to 6 Months to Year ended 31
30 June 2014 30 June 2013 December 2013
GBP'000 GBP'000 GBP'000
Continuing operations
Administrative expenses (87) (25) (239)
Net change in investments - - (3)
---------------------------------
Operating Loss (87) (25) 242
Other gains and losses - - 432
Loss before taxation (87) (25) (674)
Taxation - - -
Loss after taxation (87) (25) (674)
Discontinued operations - 11 (674)
---------------- ---------------- -------------------
Loss for the period (87) (14) (674)
Basic and diluted loss
per share (pence):
--------------------------------- ---------------- ---------------- -------------------
From continuing and total
operations (0.001)p (0.003)p (1.99)p
From discontinued operations - 0.001p -
--------------------------------- ---------------- ---------------- -------------------
Total loss per share for the
period (0.001)p (0.020)p (1.99)p
.
UNAUDITED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
As at 30 June 2013
As at As at As at
30 June 30 June 31 December
2014 2013 2013
GBP'000 GBP'000 GBP'000
Assets
Non-current assets
Other receivables - - -
---------------- --------- -------------------------
- - -
---------------- --------- -------------------------
Current Assets
Investments held at fair value through
profit or loss 31 - 31
Cash and cash equivalents 175 - 68
Assets classified as held for sale 950 -
Trade and other receivables 11 - 15
---------------- ---------
217 950 114
Total assets 217 950 114
---------------- --------- -------------------------
Non-current liabilities
Subordinated loan notes 90 133 -
Current Liabilities -
Trade and other payables 19 23
Liabilities directly associated with - 671 -
assets classified as held for sale
---------------------------------------- ---------------- --------- -------------------------
Total Liabilities 109 804 23
----------------------------------------
Net assets/(liabilities) 108 146 91
---------------------------------------- ---------------- --------- -------------------------
Equity and liabilities
Equity
Issued share capital 3,057 2,882 2,954
Share premium 2,042 1,462 2,042
Merger reserve 3,278 -
Preference Shares 2,086 -
Reverse acquisition reserve (5,036) -
Capital redemption reserve 1,844 - 1,844
Accumulated losses (6,835) (4,526) (6,749)
---------------------------------------- ---------------- --------- -------------------------
Equity attributable to owners of the
Company 108 146 91
---------------------------------------- ---------------- --------- -------------------------
UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
for the Six Months to 30 June 2013
Share Share Merger Preference Capital Retained Total
capital premium Reserve Shares Redemption Earnings
reserve
GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000 GBP'000
Balance at 1 January 2013 2,882 1,462 3,278 2,074 - (9,548) 148
Subordinated Debt Converted - - - - - - -
to Preference Shares
Loss for the period - - - - - (2) (2)
Balance at 30 June 2013 2,882 1,462 3,278 2,074 - (9,550) 146
----------------- -------- -------- ------------ ----------- --------- --------
Issue of share capital 50 382 - - - - 432
Share issue costs (10) - - - - (10)
Conversion of preference
shares 22 208 - (2086) 1,844 - -
Transfer of Merger Reserve (3278) 3,278 -
Loss for the period - - - - (476) (476)
Balance 31 December 2013 2,954 2,042 - - 1,844 (6,748) 92
----------------- -------- -------- ------------ ----------- --------- --------
Issue of share capital 175 580 - - - - 755
Loss for the period - - - - (87) (14)
Balance at 30 June 2014 3,057 2,042 - - 1,844 (6,835) 108
================= ======== ======== ============ =========== ========= ========
UNAUDITED CONSOLIDATED CASH FLOW STATEMENT
Mercer Resources (LSE:MCR)
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