Etaireia Investments Plc

LSE : ETIP


December 17, 2013 09:02 ET

Half Yearly Report

                              Etaireia Investments PLC
                            ("Etaireia" or the "Company")

                                  Interim Results

CHAIRMAN'S STATEMENT
FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2013

I am pleased to present the interim results for Etaireia Investments PLC for the six
months ended 30th September 2013.

Financial Overview
There was a loss from continuing operations for the year of £21,083 (2012: £26,233).

Review of Activities
During the period £45,000 of loan notes were converted to equity and the company issued
45,000,000 new ordinary shares.

There have been no other material events, transactions or developments. The losses relate
solely to administrative costs incurred.

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

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.

Post Balance Sheet Events
The Company is pleased to have announced the appointment of Stuart J. Black as an
Executive Director earlier today. The Board believes that Stuart's knowledge of the
property markets nationwide will enable the Company to identify attractive investment
targets within this sector. The Board continues to actively seek new investment and
acquisition opportunities to enhance shareholder value and we hope to make further
announcements in the near future.


Greg Collier
Executive Director
12th December 2013


                                       CONSOLIDATED INCOME STATEMENT


                                                     Period                     Period
                                                 01/04/2013                 01/04/2012
                                                         To                         To
                                                 30/09/2013                 30/09/2012
Revenue                                                   -                          -

Cost of sales                                             -                          -

Gross Profit                                              -                          -

Administrative expenses                            (21,083)                   (26,233)

Loss before tax                                    (21,083)                   (26,233)

Taxation                                                  -                          -

Loss for the period                                (21,083)                   (26,233)

Basic and diluted loss per share (note 1)         (0.02475)                   (0.0308)


                                               BALANCE SHEET

                                                 30/09/2013                 30/09/2012

Current Assets

Trade and other receivables                               -                    194,723

Prepayments                                           5,400                      3,344


Bank and cash                                       116,173                        459
                                                    121,573                    198,526


Current Liabilities

Trade and other payables                           (21,600)                   (24,630)


Net Current Assets                                   99,973                    173,896


Convertible Loan                                    205,000                    250,000

Net Liabilities                                   (105,027)                   (76,104)


Equity

Issued share capital                                221,536                    217,036

Share premium                                       488,991                    448,491

Reserve acquisition                               1,219,167                  1,219,167

Profit and loss                                 (2,034,721)                (1,960,798)
                                                  (105,027)                   (76,104)

Notes to the financial information

1.      The calculation  of  loss  per share is based on the loss on ordinary activities  after  taxation
        and the weighted average number of shares of 85,166,666 in issue during the period.  Due  to  the
        loss  incurred  in  the  period under review, the dilutive securities have  no  effect  as  at  30
        September 2013.

3.      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.

4.      The financial information has not been audited or reviewed by the auditors, or extracted from
        audited information. This financial statement does not constitute statutory accounts within the
        meaning of Section 435 of the Companies Act 2006 (the "Act").

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

6.      This statement was approved by the Board of Directors. Copies of this statement will be
        available free of charge from the Company's Registered Office at 2nd  Floor, Cambridge House,
        Cambridge Road, Harlow Mill, Essex, CM20 2EQ.


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

                                           
                                              --ENDS--


Enquiries:

Etaireia Investments Plc
Tel: 078 3018 2501
Greg Collier

Peterhouse Corporate Finance Limited
Tel: 020 7469 0932
Eran Zucker

Contact Information

  • Etaireia Investments Plc