Affinity Global Developments Plc
GXG : AGDO

February 11, 2015 05:53 ET

Affinity Global Developments Plc : Interim results

AFFINITY GLOBAL DEVELOPMENTS PLC
UNAUDITED HALF- YEARLY REPORT
FOR THE PERIOD ENDED 30 NOVEMBER 2014


Affinity  Global  Developments plc, the GXG quoted global property Investment Company is  pleased  to  announce  its
interim unaudited financial statements for six months ending 30 November 2014.

Operational Highlights
*    The company has identified 3 development opportunities which are currently undertaking due diligence;
*    First  project is under offer and currently undertaking due diligence with completion expected  in  the  first
     quarter of 2015;
*    Second & third projects also identified and are currently being appraised.

Financial Highlights
*    As at 30 November 2014 Affinity Global Developments reached its minimum subscription target of GBP 500,000  in
     debentures;
*    First day of dealing and issuing of debentures 24 October 2014;
*    First day of dealing on GXG first quote 22 September 2014;
*    Since  30 November 2014 a further GBP 3,932,913 in debentures have been issued by Affinity Global Developments
     plc.


Board of Directors' Statement

Introduction
Affinity  Global  Developments plc is affiliated with Affinity Global Real Estate which  provides  fund  management,
asset management and full real estate solutions to clients. Affinity Global Developments plc has been established to
enter  the  international luxury hotels and resorts and European residential developments  markets.  It  intends  to
provide  prospective investors with access to these growing markets backed by underlying high quality land and  real
estate around the world.

UK & European Market Overview
Despite  concerns over the region's economic conditions, there is expected to be an increase in real estate activity
around the major cities of Europe, due predominantly, to a more optimistic outlook in centres within the region (PWC
Survey)

In  the UK, anticipated changes to pension pot legislation is expected to  have a positive impact on the real estate
sector, although the General Election may be cause for more conservative growth in the sector. Other factors such as
Mansion  Tax,  changes  in  Stamp duty and pressure on wages, are anticipated to have  both  positive  and  downward
pressure on the property market however, despite the election, growth is still anticipated in the region.

Caribbean Property Market Overview
The  Caribbean  real estate and tourism sectors look set for good growth in 2015 due to a positive economic  outlook
for  both the Caribbean and Central American regions with good GDP growth forecast. (Moody's Investors Service). The
high  quality of living, good value for money and the region's stability has reinforced the appeal of the region  to
tourists, property buyers and investors alike, particularly when considering the volatility present in other regions
around  the  globe. The region has seen an increase in flight access from the US and Canadian markets. It  has  also
seen  a  strong  pipeline  of  new  hotel  and luxury residential developments.  Government  programs  incentivising
investment into the region have also attracted an increase in investors, property buyers and tourists alike.

In regards to Saint Lucia, it is poised for continued tourism growth on the back of a 6% increase in tourism numbers
to the island in 2014, particularly from the US and UK markets.

Company Strategy

The Strategy of Affinity Global Development plc is to finance, acquire or develop property and land which is either:
*     Suitable  for  development  into  a leading luxury hotel or international resort  in  locations  such  as  the
      Caribbean, Mediterranean or Indian Ocean.
*     Suitable  for  residential or mixed use developments within major European cities such as London,  Prague  and
      Barcelona.

Within  the  international  resorts sector Affinity Global Developments plc looks  to  create  value  by  developing
international hotels and resorts with a reputation for the highest quality service and offering. It seeks to partner
with global brands with proven track records. As the global economic recovery gains momentum a clear opportunity  is
emerging in this sector with deal volume projection of c.US$ 50 billion in 2014.

Within the residential development sector Affinity Global Developments plc seeks to create high quality products for
the  occupational and investment market. It targets opportunities in major European cities where there is  a  proven
supply/demand  imbalance  and  potential for capital value growth. It is estimated  that  the  value  of  all  world
residential  property is c.US$ 150 trillion and it will create products to be sold into what is an  ever  increasing
international asset investment class.

Debenture Offer
As  at 31 January 2015, Affinity Global Developments plc has received GBP 4,432,913 over a period covering circa two
months,  with the trend of investment bonds set to continue. The funds raised will be used to see out the company's'
interest  in  the 3 development opportunities already identified, as well as continuing to identify  and  invest  in
exceptional projects of a similar nature.

Results and Dividends
The  Company had no significant turnover during the period as the Company had just commenced trading. Dividends  are
scheduled for payment half yearly with the first dividend to be paid out in June 2015.

Conclusion
With the first project currently undergoing due diligence with completion expected in the first quarter of 2015  and
the  second  and  third  projects  expected to follow closely, the company continues  to  raise  future  monies  for
debentures.


On behalf of the Board
Michael Horsford
Director

10 February 2015
                                                          
                                                          
PROFIT AND LOSS ACCOUNT
FOR THE PERIOD ENDED 30 NOVEMBER 2014

                                                          
                                                                                                      6 months ended
                                                                                                       30 November
                                                                                                           2014
                                                                                                                  GBP
                                                                                                 
Administrative Expenses                                                                                      (39,057)
                                                                                                           ----------
                                                                                                             

OPERATING LOSS                                                                                               (39,057)

                                                                                                              (3,880)
Interest payable and similar charges
                                                                                                           ----------

                                                                                                             

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION                                                                  (42,937)

Tax on loss on ordinary activities                                                                                  -
                                                                                                           ---------- 

LOSS CARRIED FORWARD                                                                                         (42,937) 
                                                                                                           ----------
                                                                                                           ----------
                                                                                                   


BALANCE SHEET
AS AT 30 NOVEMBER 2014

                                                          
                                                                                                     2014
                                                                                               GBP            GBP
                                                                                                        
CURRENT ASSETS
                                                                                                
Debtors                                                                                        125,756
                                                                                                
Cash at bank                                                                                   383,388
                                                                                             ---------       
                                                                                               509,144 
                                                                                               
CREDITORS: amounts falling due within one year                                                (34,359)
                                                                                             ---------
                                                                                                               
NET CURRENT ASSETS                                                                                            474,785
                                                                                                             -------- 
TOTAL ASSETS LESS CURRENT LIABILITIES                                                                         474,785
                                                                                                          
CREDITORS: amounts falling due after more than one year                                                      (467,722)
                                                                                                             ---------
                                                                                                        
NET ASSETS                                                                                                      7,063
                                                                                                             ---------
                                                                                                             ---------
                                                                                                        
CAPITAL AND RESERVES
                                                                                                         
Called up share capital                                                                                        50,000
                                                                                                              
Profit and loss account                                                                                       (42,937)
                                                                                                             ---------

SHAREHOLDERS' FUNDS                                                                                             7,063
                                                                                                             ---------
                                                                                                             ---------


The  financial  information included in this announcement for the six months ended 30 November  2014  has  not  been
audited. The Directors of the Company accept responsibility for this announcement.

Contact Information

  • Affinity Global Developments Plc