Angelfish Investments plc

March 31, 2014 02:00 ET

Interim Results for the Half-Year to 31 December 2013



March 31, 2014

Angelfish Investments plc: Interim Results for the Half-Year to 31 December 2013

31 March 2014

                                           Angelfish Investments plc
                                           ("ANGP" or "the Company")
                             Interim Results for the Half-Year to 31 December 2013

The board of Angelfish Investments plc (the "Board") today announces the Company's results for the half-year to
31  December 2013 (the "Period"). The Company showed a retained loss for the Period of GBP 38,488 (half-year to
31 December 2012: GBP 33,592).

Statement by the Board

As  previously  noted  the  Company has signed a subscription agreement dated 30  April  2013  with  One  Media
Enterprises  Limited  ("OME")  which  contemplated that, subject to the  satisfaction  of  certain  conditions,
Angelfish may make an aggregate investment of up to US$500,000 in OME, in stages and in accordance with  agreed
milestones  via a subscription for secured convertible loan notes in OME. On August 2013 the Company  announced
that  in exchange for Angelfish's agreement to provide OME with an advance investment, outside of the milestone
framework  set  out  in  the  subscription  agreement, and for the Company's  continued  support  to  OME,  the
subscription  agreement  and the terms of the loan notes have been varied so that the aggregate  investment  of
US$500,000 would now, on full conversion, represent 29.9 per cent of the enlarged issued share capital of OME.

Significant progress has been made by OME to date recently and we expect to make further announcements on  this

On  29  January 2014 the Company confirmed a Capital Reduction had been approved by relevant court  order  that
day.  Following the Capital Reduction, the Deferred Shares and the balance standing to the credit of the  share
premium  account  of the Company have been cancelled. The Capital Reduction was sufficient  to  write  off  the
entirety  of  the  deficit on its profit and loss account, and create a positive balance  of  some  GBP330,000.
Following the Capital Reduction, there was no change in the number of Ordinary Shares in issue.

On  29  January 2014 the Company also announced that the Cumulative Redeemable Preference Shares  of  10p  each
created at the general meeting held on 23 December 2013 would be available for issue from 31 January 2014.  The
Company  and its Brokers have received applications for Preference Shares and these are expected to  be  lodged
with ISDX soon for registration and admission to trading in mid April 2014 on the ISDX Growth Market.

The  Company  has  also,  on  26 March 2014, announced that it changed corporate advisers  to  Cairn  Financial
Advisers  LLP who are ISDX Corporate advisers and a firm of nominated advisers for the purposes of  the  London
Stock Exchange.

Principal activities

The principal activity of the Company is a quoted Investment Vehicle, which is quoted on the ISDX Growth Market
(formerly the PLUS-quoted market).

No  interim dividend is to be paid in relation to the Period. No interim dividend was paid in relation  to  the
six months to 31 December 2012.

The  Board  intends  to  utilise  the Company's ISDX Growth Market quotation to continue  with  its  investment
program, with a view to increasing shareholder value.

On behalf of the Board

Andrew Flitcroft
Finance Director
Angelfish Investments plc

For the six months ended 31 December 2014

                                                Angelfish Investments plc
                                                   6 mths to      6 mths to
                                                      31 Dec         31 Dec
                                                        2013           2012
                                                         GBP            GBP

Turnover                                              12,000              0

Operating Expenses                                         0              0
Administrative Expenses                             (50,488)       (33,592)
Other Operating Income                                     0              0

Operating Loss on Ordinary Activities Before
Taxation                                            (38,488)       (33,592)

Interest Receivable/(Payable) and Similar
Charges                                                    0              0

Loss on Ordinary Activities Before Taxation         (38,488)       (33,592)

Tax on Loss on Ordinary Activities                         -              -

Retained Loss for Period                            (38,488)       (33,592)

As at 31 December 2013

                                                Angelfish Investments plc
                                                       As at          As at
                                                      31 Dec         31 Dec
                                                        2013           2012
                                                         GBP            GBP

Fixed Assets
Non-current assets
Property, plant and equipment                              0            880
Goodwill                                                   0              0
Other intangibles                                          0              0
Investments                                          162,379              0
                                                     162,379            880

Current assets
Trade and other receivables                          194,928          5,793
Cash and cash equivalents                             24,490         46,985
                                                     219,419         52,779

Total assets                                         381,798         53,658

Equity and liabilities
Issued share capital                                 488,458        453,658
Share premium                                      3,550,543      3,193,845
Retained earnings                                (3,673,075)    (3,605,479)
                                                     365,926         42,024
Current liabilities
Trade and other payables                              16,070         11,634
Loans                                                      0              0
Total current liabilities                             16,070         11,634
Other liabilities                                          0              0

Total equity and liabilities                         381,996         53,658


1. The above financial information was approved by the Board on 31 March 2014.

2.  The  above financial information is unaudited and does not constitute statutory accounts within the meaning
of Section 434 of the Companies Act 2006.

3.  There have not been any changes in accounting policies which affect the validity of the comparison  of  the
financial  information  presented  for  the six months to 31 December 2013  versus  the  comparative  financial
information presented for the six months to 31 December 2012.

4. The information in this announcement has not been reviewed by the Company's auditor.




Angelfish Investments plc
Andrew Flitcroft
Finance Director
+44 (0)7769 591096

ISDX Corporate Adviser
Cairn Financial Advisers LLP
Liam Murray/Carolyn Sansom
+44 (0)207 148 7900

SVS Securities Plc
Kulvir Virk
+44 (0)203 700 0100

About Angelfish Investments plc

The  Company's ordinary shares are admitted to trading on the ISDX Growth Market in London. The Company has the
ISDX trading symbol ANGP.

Contact Information

  • Angelfish Investments plc