ZimNRG plc
LSE : ZIMO

November 28, 2008 04:53 ET

Half-yearly report

"ZimNRG Plc (the "Company") un-audited interim results to 31 August 2008

CHAIRMAN'S STATEMENT:

The  Company  announces its third interim un-audited results for the six months' ended  31  August
2008.

The principal activity of ZimNRG plc is to invest in or acquire assets, joint ventures, businesses
or companies across all  sectors  relating  to  natural resources and energy that are based in, or
have their Headquarters in, Zimbabwe and the southern sub-Saharan African region.

As  reported  in  the Company's second annual report conditions in Zimbabwe continue  to  be  very
challenging for residents and business alike. Inflation continues at extremely high levels and the
Zimbabwe economy continues to be weak. Despite this your directors continue to be optimistic about
the  longer  term opportunities for Zimbabwe and for your company. They continue to actively  seek
out opportunities that meet the Company's strategic objectives.

The  Company  took advantage of historically high Sterling-Dollar exchange rates  to  purchase  US
dollars at rates of in aggregate over $USD 2 per £GBP and has subsequently recognised the gain  in
value due to Sterling's current weakness against the US dollar when reporting in Sterling.

The  Company announced its first participation in the rapidly expanding field of Coal Bed  Methane
("CBM")  in January 2008. The Company subscribed £100,000 in the seed capital financing of  Lengau
Resources PLC ("Lengau"), and as a consequence of the investment ZimNRG and Lengau entered into  a
shareholders agreement of which details were given in the announcement of 29th January 2008

The Directors do not recommend the payment of a dividend.

The Directors have agreed that their net emoluments (consisting of fees and salaries) will be paid
in   shares,   as  set  out  in  the  Offer  Document.   The  details  of  the  Directors'   total
shareholdings as at 24th November 2008 are set out below (note this is prior to the allocation  of
shares to meet Executive Directors' salaries):

Summary of total of Directors' shareholdings:

-----------------------------------------------------------------------
|                                     |                |
|          Director                   | No. of Shares  | % of shares in issue|
---------------------------------------------------------------------
|                                     |                |                     |
|Christopher Latilla-Campbell         |   1,541,786    |         3.78        |
---------------------------------------------------------------------
|                                     |                |                     |
|Alan Mason                           |   1,473,469    |         3.62%       |
------------------------------------------------------------------ --
|                                     |                |                     |
|Jonathan de Thierry                  |     500,000    |         1.23%       |
---------------------------------------------------------------------
|                                     |   _________    |                     |
|TOTAL                                |   3,740,255    |         8.63%       |
---------------------------------------------------------------------

The total number of shares in issue is 40,740,255..

(Christopher    Latilla-Campbell   is   a  potential  beneficiary   of   the   Somers  Investments
Limited  holding  of  14,250,000 shares, representing 35.18% of the shares in issue).


JONATHAN DE THIERRY
CHAIRMAN

25 NOVEMBER 2008

 ACCOUNTS FOR THE SIX MONTHS TO 31ST AUGUST, 2008

 PROFIT & LOSS ACCOUNT
 for the period to 31 August, 2008
                                                     GBP

 Gain on Foreign Exchange                            20,783
 Interest receivable                                  4,669
 Salaries & fees                                    [25,410]
 Printing                                            [1,445]
 Legal & Professional Fees                          [16,980]
 Travelling and Research                             [1,111]
 Incidentals                                         [3,571]
                                                   --------------
 Loss for the Period                                [23,065]
                                                   --------------


 BALANCE SHEET
 AT 31 August, 2008
                                                     GBP
 Employment of Capital

 Current Assets
 Investments                                        100,000
 Bank Balances                                      479,377
 Debtors                                              [Nil]
                                                    --------------
                                                    579,377
 Current Liabilities
 Creditors                                           60,386
                                                    --------------
                                                    518,991
                                                    --------------

 Capital Employed

 Share Capital                                                  203,701
 Share Premium                                                  560,307
 Profit & Loss Account                                          [23,065]
 Prior year reserves                                           [221,952]
                                                            --------------
                                                                518,991
                                                            --------------

 Shares in Issue at 27th November 2008             [40,740,255]

The Directors of the Company accept responsibility for the contents of this announcement.

ENDS

Enquiries:

ZimNRG PLC                                                           01403-738 555
Christopher Latilla-Campbell, Managing Director

Advisor                                                              0207 628 1128
Jonathan Willis-Richards / Peter Freeman,
Loeb Aron & Company Ltd.

Contact Information

  • ZimNRG plc