Etaireia Investments Plc
LSE : ETIP

August 30, 2013 07:53 ET

Final Results

                                                                                               GB00B1Z2XX18
                                                                                             30 August 2013

                                         ETAIREIA INVESTMENTS PLC
                                       ("Etaireia" or the "Company")
                                                     
                             Audited results for the year ended 31 March 2013
                                                     

CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 31 MARCH 2013

I  am  pleased to present the audited results for Etaireia Investments PLC for the year ended  31
March 2013.

Financial Overview
There was a loss from continuing operations for the year of GBP101,696 (2012: GBP28,534).

Review of Activities
During the financial year the Company announced the completion of a GBP250,000 fundraise through
the  issue  of zero coupon convertible loan notes. Following the successful refinancing  of  the
Company Ms. Priya Shah was appointed to the board.

The  losses relate primarily to administrative costs associated with maintaining a public quoted
company.

The  Directors  have identified a number of potential investments during the  year  which  after
evaluation  have not proceeded. We continue to assess a number of opportunities that  have  been
presented to us and expect to make further announcements in the near future.

The cash position remains adequate for the current level of activity but will be reviewed in the
context of any investments that may be made.

Operating  expenses will continue to be kept at a minimum until more regular cash flows  can  be
generated.

Post-Period Events
Since  the  year end a total of GBP45,000 of the convertible loan notes above has been converted
to ordinary shares in the Company.

Greg Collier
Director
30 August 2013


STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2013


                                                                   Notes           2013              2012
                                                                                   GBP               GBP
                                                                                                       
CONTINUING OPERATIONS                                              
                                                                                                
Administrative expenses                                                      (79,822)           (28,534)
                                                                             _________          _________
                                                                                                
LOSS FROM OPERATIONS                                                         (79,822)           (28,534)
                                                                                                
Convertible loan finance cost                                                (21,874)           -
                                                                             _________          _________
                                                                                                            
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX                           (101,696)           (28,534)
                                                                                                
Income tax                                                                   -                  -
                                                                                                
                                                                             _________          _________
                                                                                                
ATTRIBUTABLE TO EQUITY HOLDERS                                              (101,696)           (28,534)
                                                                             _________          _________
                                                                                                
Earnings per share:                                                                             
                                                                                                
Basic and diluted earnings per share from total operations            1      (0.08)p            (0.02)p
                                                                             _________          _________



BALANCE SHEET
AS AT 31 MARCH 2013

                                                                  Notes       2013               2012
                                                                               GBP                GBP
                                                                                              
Current assets                                                                                
Trade and other receivables                                                  1,500              4,820
Cash and cash equivalents                                                  137,655                  2
                                                                           _______            _______
                                                                           139,155              4,822
                                                                                              
Current liabilities                                                                           
Trade and other payables                                                   (18,850)           (54,695)
                                                                           ________           ________
                                                                                              
Net current assets/(liabilities)                                           120,305            (49,873)
                                                                                              
Non-current liabilities                                                                       
Convertible loan notes                                                    (162,992)           -
                                                                           ________           ________
                                                                                              
NET LIABILITIES                                                            (42,687)           (49,873)
                                                                           ________           ________
                                                                                              
                                                                                              
Equity
Issued share capital                                                       217,036            217,036
Share premium account                                                      448,491            448,491
Convertible loan - equity reserve                                          108,882            -
Accumulated losses                                                        (817,096)          (715,400)
                                                                           ________           ________
                                                                                              
SHAREHOLDERS' NET DEFICIT                                                  (42,687)           (49,873)
                                                                           ________           ________
                                                                                              


NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 31 MARCH 2013


Notes to the financial information

1.       The calculation of loss per share is based on the weighted average number of shares of 126,360,784
in issue during the period.

2.         While  the  financial information included in this announcement has been computed in  accordance
with  International  Financial  Reporting  Standards (IFRS), this  announcement  does  not  itself  contain
sufficient information to comply with IFRS. The full financial statements of the company for the year  will
be posted to shareholders as soon as is practicable.


3.        The financial information in this announcement has been audited by the Company's auditors.

4.        The Directors have not declared a dividend for the period.


ETAIREIA INVESTMENTS PLC
Registered No. 06138814

The Directors of Etaireia Investments plc accept responsibility for this announcement.

                                                 --ENDS--

Enquiries:

Etaireia Investments Plc
Greg Collier
Tel: 07830182501

Peterhouse Corporate Finance Ltd
Eran Zucker
Tel:  0207 469 0934

Contact Information

  • Etaireia Investments Plc