TIDMSPSM
RNS Number : 8242S
Stallion Resources PLC
29 September 2014
29 September 2014
(Stallion Resources plc)
(the "Company")
Interim Unaudited Results for the period ended 30 June 2014
Stallion Resources plc is pleased to announce its unaudited
results for the six months ended 30 June 2014.
Results for the period
In the period, the Company disposed of its subsidiaries and
business and as a result is now classified as an investing company
under AIM Rule 15. At the same time, the previous directors
resigned and Cameron Pearce and I were appointed to the Board, the
Company changed its name to Stallion Resources plc and the Company
raised GBP300,000 before costs. The Company made a profit before
income tax of GBP123,077, largely due to a write back of
liabilities on the restructuring.
Review of activities
During the period in question, the Company's Board and
management have reviewed a number of project and investment
opportunities in a number of different sectors. The Company will
keep shareholders informed of any material developments in that
regard.
On behalf of the Board on 29 September 2014.
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/Andrew Wagstaff
Peterhouse Corporate Finance Limited +44 20 7469
(Joint broker) 0930
Duncan Vasey
Eran Zucker
STALLION RESOURCES PLC
CONSOLIDATED INCOME STATEMENT
Period from 1 January 2014 to 30 June 2014
Period Period
Notes to 30.06.14 to 30.06.13
EUR EUR
REVENUE - 2,112
Cost of sales - (21,703)
_________ _________
GROSS LOSS - (19,591)
Administrative expenses (78,505) (212,365)
Write-off of balances
on disposal of investments 209,860 -
_________ _________
OPERATING PROFIT/(LOSS) 131,355 (231,956)
Finance revenue - 8,042
Finance costs (8,278) (4,577)
_________ _________
PROFIT/(LOSS) BEFORE INCOME
TAX 123,077 (228,491)
Income tax expense - -
_________ _________
PROFIT/(LOSS) FOR THE
PERIOD FROM CONTINUING
OPERATIONS 123,077 (228,491)
_________ _________
PROFIT/(LOSS) ATTRIBUTABLE
TO OWNERS OF THE PARENT 123,077 (228,491)
_________ _________
Profit/(Loss) per share
from continuing operations
attributable to the equity
holders of the company
during the period 0.00p 0.00p
_________ _________
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
Period from January 2014 to 30 June 2014
Comprehensive income
Profit/(Loss) for the period 123,077 (228,491)
_______ _______
Other comprehensive income
Currency translation differences 762 106,830
_______ _______
Total comprehensive profit/(loss)
for the period attributable
to owners of the parent 123,839 (121,661)
________ ________
CONSOLIDATED BALANCE SHEET
As at 30 June 2014
At 30.06.14 At 30.06.13
EUR EUR
ASSETS
Non-current assets
Intangible fixed assets - 1,007,965
Tangible fixed assets - 121,251
_______ _______
- 1,129,216
Current assets
Trade and other receivables 11,865 364,144
Cash and cash equivalents 365,040 573,289
_______ _______
376,905 937,433
________ ________
TOTAL ASSETS 376,905 2,066,649
________ ________
EQUITY AND LIABILITIES
Equity attributable to
owners of the parent
Ordinary shares 335,564 151,287
Share premium account 2,505,416 2,281,034
Accumulated losses (2,554,399) (577,257)
________ ________
Total equity 286,581 1,855,064
_______ _______
Liabilities
Current liabilities
Trade and other payables 67,018 136,794
Taxes 567 5,020
Other creditors - 52,667
Accruals and deferrals 22,739 17,104
________ ________
Total liabilities 90,324 211,585
________ ________
TOTAL EQUITY AND LIABILITIES 376,905 2,066,649
________ ________
CONSOLIDATED STATEMENT OF CASH FLOWS
For the period from 1 January 2014 to 30 June 2014
Period Period
to 30.06.14 to 30.06.13
EUR EUR
Cash flow from operating
activities
Cash used by operations (92,546) (1,178,683)
Cash flows from investing
activities
Purchases of property,
plant and equipment - (35,390)
Purchase of intangibles - (423,970)
________ ________
Net cash used in investing
activities - (459,360)
________ ________
Cash flows from financing
activities
Net proceeds from issue
of ordinary shares 355,549 812,168
Interest received - 8,042
Interest paid (8,278) (4,577)
________ ________
Net cash generated from
financing activities 347,271 815,633
________ ________
Net increase in cash &
cash equivalents
Exchange losses on cash 254,725 (822,410)
and cash equivalents
- (506)
Cash & cash equivalents
brought forward 110,315 1,396,205
________ ________
Cash & cash equivalents
at end of the period 365,040 573,289
________ ________
STALLION RESOURCES PLC
Notes to the Interim Results Announcement
Loss per share
Basic loss per share is calculated by dividing the profit or
loss attributable to equity holders of the Company by the weighted
average number of Ordinary Shares in issue during the period.
Group EUR EUR
Profit/(Loss) attributable
to equity holders of the
Company 123,839 (121,661)
________ ________
Weighted average number
of Ordinary Shares in issue 575,757,786 431,313,342
________ ________
Statement of changes in
equity Accumul-ated
losses
EUR
At 1 January 2014 (2,678,238)
Profit for the period from
continuing operations 123,077
Other comprehensive income -
Translation of period end
balances 762
________
At 30 June 2014 (2,554,399)
________
ENDS
This information is provided by RNS
The company news service from the London Stock Exchange
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