Shefa Yamim (A.T.M.) Ltd Annual Financial Report - DTR 6.3.5 Disclosure (6234M)
April 30 2018 - 10:53AM
UK Regulatory
TIDMSEFA
RNS Number : 6234M
Shefa Yamim (A.T.M.) Ltd
30 April 2018
30 April 2018
Shefa Yamim (A.T.M.) Ltd
("Shefa Yamim" or the "Company")
ANNUAL FINANCIAL REPORT - DTR 6.3.5 Disclosure
Following the release on 29 March 2017 of the Company's Final
Results Announcement for the financial year ended 31 December 2017,
Shefa Yamim announces that the 2017 Annual Report and Accounts have
been published today. These documents have been made publicly
available on the Shefa Yamim website (www.shefayamim). The annual
report can be found in the Investor section under Articles and
Documents. The direct link is
http://www.shefayamim.com/Articles-and-Documents
In compliance with 9.6.1 of the Listing Rules, a copy of the
2017 Annual Report and Accounts will shortly be available for
inspection at the UK Listing Authority's National Storage Mechanism
website: http://www.morningstar.co.uk/uk/NSM.
The primary purpose of this announcement is to inform the market
about the publication of the Company's Annual Report and Accounts
for the year ended 31 December 2017 (the "2017 Annual Report and
Accounts").
The information below, which is extracted from the 2017 Annual
Report and Accounts, is included solely for the purpose of
complying with DTR 6.3.5 and the requirements it imposes on issuers
as to how to make public annual financial reports. It should be
read in conjunction with the Company's Final Results Announcement.
Together these constitute the material required by DTR 6.3.4 to be
communicated to the media in unedited full text through a
Regulatory Information Service. This material is not a substitute
for reading the full 2017 Annual Report and Accounts. References to
page numbers and notes to the accounts set out in the Appendices
below refer to page numbers and notes to the accounts in the
Company's 2017 Annual Report and Accounts.
The Final Results Announcement includes an indication of the
important events that occurred during the year and a condensed set
of the financial statements.
The Company's auditor has reported on the accounts and its
reports are unqualified. The Independent Auditor's Report on the
Company's financial statements is set out in full on pages 26 of
the 2017 Annual Report and Accounts.
APPENDIX A - DIRECTORS' RESPONSIBILITY STATEMENT
The 2017 Annual Report and Accounts contain a responsibility
statement in compliance with paragraph 4.1.12 of the DTR. The
directors' responsibility statement is set out on pages 15-16 of
the 2017 Annual Report and Accounts for the Company. This statement
is set out below in full and unedited text.
APPENDIX B - PRINCIPAL RISKS AND UNCERTAINTIES
The principal risks and uncertainties are set out on page 10 of
the 2017 Annual Report and Accounts. The full and unedited text
relating to these disclosures are set out below:
The Company is currently at an early stage of development and
has yet to commence operations at the Kishon Mid Reach Project. The
Company currently has no cash producing properties and therefore no
positive cash flow. The Company will continue to have negative
operating cash flow until commercial production is reached.
The ability of the Company to continue its activities as a going
concern depends to a greater extent on its ability to continue to
raise capital and/or debt. Considering the fact that precious stone
exploration is unique to the Company in Israel, there is a risk
that the Company only has a limited capacity to raise capital
and/or debt from private investors and/or from the public.
In addition, as the Company has no previous experience in the
mining industry and as there has been no previous attempt to mine
for precious stones in Israel, there is a risk that the budgets
planned by the Company in order to pursue its objectives shall not
be sufficient and that the Company would require additional funding
to complete the exploration plans.
- Ends -
Enquiries
Shefa Yamim (A.T. M.) Ltd
Avi Taub, Chief Executive Officer +44 20 7618
www.shefayamim.com 9100
------------
VSA Capital Limited - Financial
Adviser and Joint Broker
------------
+44 20 3005
Andrew Raca, Stephanie Jury 5000
------------
Daniel Stewart & Company - Joint
Broker
------------
Jon Levinson, Richard Potts, David +44 20 7776
Lawman 6500
------------
Luther Pendragon
------------
Harry Chathli, Ana Ribeiro, Alexis +44 20 7618
Gore 9100
------------
This information is provided by RNS
The company news service from the London Stock Exchange
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