Etaireia Investments Plc
LSE : ETIP

August 31, 2012 10:10 ET

Unaudited Final Results

                                                     
                                         ETAIREIA INVESTMENTS PLC
                                       ("Etaireia" or the "Company")
         
                      UNAUDITED RESULTS FOR THE 12 MONTH PERIOD ENDED 31st March 2012
         
          I am pleased to be able to make this report to you as Chairman of the Company.
          
          Financial Overview
          There was a loss from continuing operations for the year of £28,534 (2011: £46,417).
          
          Review of Activities
          During the financial year no material events, transactions or developments took place.
          The  losses relate solely to administrative costs incurred whilst the board sought new
          investment following the restructuring of the Company in the previous year.
          
          During  the period there have been some changes to the Board of Directors. Adam  Ward
          stepped  down  from  the  Board, and Gregory Collier joined  the  Board  as  Executive
          Director.
          
          Post-Period Events
          On the 10th July 2012 the Company announced the completion of a £250,000 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 on 10 July 2012 and Louis Yeromelou resigned on the same day, The refinanced
          Etaireia  has  subsequently been evaluating short term opportunities in  other  quoted
          companies and longer term investment opportunities in the legal sector.
          
          Greg Collier
          Executive Director
          28 August 2012
         
         
         STATEMENT OF COMPREHENSIVE INCOME
         FOR THE YEAR ENDED 31 MARCH 2012
         
                                                                                                        
                                                                                                        
                                                                              Year ended        Year ended
                                                                                31.03.12          31.03.11
                                                                                                        
           CONTINUING OPERATIONS
                                                                                                 
           Administrative expenses                                             (28,534)           (37,217)
                                                                               _________          _________
                                                                                                 
           LOSS FROM OPERATIONS                                                (28,534)           (37,217)
                                                                                                 
           Finance costs                                                       -                  -
                                                                               _________          _________
                                                                                                             
           LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX                    (28,534)         (37,217)
                                                                                                 
           Income tax                                                          -                  -
                                                                                                 
                                                                                                 
                                                                              _________          _________
                                                                                                   
           ATTRIBUTABLE TO EQUITY HOLDERS                                      (28,534)           (37,217)
                                                                              _________          _________
                                                                                                  
           Earnings/Loss per share:                                                              
                                                                                                 
                                                                                                 
                                                                                                 
           Basic and diluted earnings/loss per share from total operations    (0.03)p            (0.04)p
                                                                              _________          _________
                                                                                                        
                                                                                                        
         BALANCE SHEET
         AS AT 31 MARCH 2012
         
          
         

                                                                         Year ended         Year ended
                                                                          31.03.12           31.03.11
                                                                           £                  £
           
                                                                                              
           Current assets                                                                     
           Trade and other receivables                                     4,820              4,218
           Cash and cash equivalents                                       2                  24
                                                                           _______            _______
                                                                           4,822              4,242
                                                                                              
           Current liabilities                                                                
           Trade and other payables                                        (54,695)           (25,581)
                                                                           ________           ________
                                                                                              
           Net current (liabilities)/assets                                (49,873)           (21,339)
                                                                           ________           ________
                                                                                              
           NET (LIABILITIES)/ASSETS                                        (49,873)           (21,339)
                                                                           ________           ________
                                                                                              
                                                                                              
           Equity
           Issued share capital                                             217,036           217,036
           Share premium account                                            448,491           448,491
           Accumulated losses                                              (715,400)         (686,866)
                                                                           ________           ________
                                                                                              
           SHAREHOLDERS' (LIABILITIES)/FUNDS                               (49,873)           (21,339)
                                                                           ________           ________
                                                                                              
          
           
           
           
        Notes to the financial information
        
      1.       The  calculation  of  loss per share is based on the weighted average number  of  shares  of
               85,166,666 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.   The
               comparative figures for 2011 have been adjusted to exclude the results of the Company's sole
               subsidiary  for the period prior to the appointment of a liquidator in August  2010.   Since
               then the Company has operated as a single entity.
        
        3.     The  financial information in this announcement has not been audited or reviewed  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/Fungai Ndoro
        Tel:  0207 469 0934
        
        


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