Titania Internet Ventures plc
LSE : TITP

August 05, 2014 02:00 ET

Unaudited Interim Results

                                                                                                          5 August 2014

                                              TITANIA INTERNET VENTURES PLC                                            
                                              ("Titania" or "the Company")

                       Unaudited Interim Results for the six month period ended 31 December 2013

                                                  Director's Statement

Titania Internet Ventures Plc  today announces its unaudited Interim Results for the period 1 July 2013 to  31 December
2013.

The Interim Results  for the  six months  to 31 December 2013  showed a loss of  GBP 42,883 compared with a loss of GBP
157,835 over the same period in 2012.

During  the  period from  1 July 2013 to 31 December 2013,  Titania raised total of  GBP 25,000 by way of a  placing of
25,000,000 new ordinary shares of 0.1p each. Proceeds of the placing were applied towards working capital.

The Board is currently undertaking initiatives to strengthen its balance sheet and as such, will continue to operate on
a limited 'care and maintenance' basis.  In addition the Board is also in the process of reviewing  the future strategy
of the Company, with a view to maximize Shareholders' value.

Pasi Marjanen
Director
On behalf of the Board

TITANIA INTERNET VENTURES PLC
UNAUDITED RESULTS FOR THE 6 MONTHS TO 31 DECEMBER 2013
PROFIT & LOSS ACCOUNT


                                                        6 MONTHS TO                 6 MONTHS TO           
                                                        31 December                 31 December         
                                                           2013                        2012
                                                             £                           £
        
Turnover                                                          -                     120,950           

Cost of sales                                                     -                   (102,561)
                                                        -----------                 -----------
                                                                                     
Gross profit                                                      -                      18,389

Administration costs                                       (42,884)                   (176,231)
                                                        -----------                 -----------
                                                                                     
OPERATING (LOSS)                                           (42,884)                   (157,842)

Finance income                                                    1                           7
                                                        -----------                 -----------

(LOSS) BEFORE TAXATION                                     (42,883)                   (157,835)

Taxation                                                          -                           -
                                                        -----------                 -----------
                                                                                     
(LOSS) FOR THE PERIOD                                      (42,883)                   (157,835)
                                                        -----------                 -----------
                                                                                     
Basic loss per share                                        (0.04p)                     (0.22p)

Diluted loss per share                                      (0.04p)                     (0.20p) 
                                                        -----------                 -----------


BALANCE SHEET AS AT 31 DECEMBER 2013

                                                        31 December                 31 December
                                                           2013                        2013
                                                             £                           £

FIXED ASSETS                                                                       

Tangible assets                                                   -                       6,736
                                                        -----------                 -----------
                                                                  -                       6,736
                                                        -----------                 -----------
CURRENT ASSETS                                                                     
                                                                                     
Debtors & prepayments                                         1,721                      12,653
                                                                                     
Cash at bank                                                  1,963                      35,865
                                                        -----------                 -----------
                                                                                     
Total current assets                                          3,684                      48,518
                                                                                     
CURRENT LIABILITIES                                                                
                                                                                     
Creditors: amounts falling due within one year             (45,476)                    (15,505)
                                                        -----------                 -----------
                                                                                     
Net current (liabilities)/ assets                          (41,792)                      33,013
                                                        -----------                 -----------
                                                                                     
OTHER LIABILITIES                                                 -                           -
                                                                                   
Net (liabilities)/ assets                                  (41,792)                      39,749
                                                        ===========                 ===========
                                                                                     
CAPITAL & RESERVES                                                                 
                                                                                     
Share capital                                               979,265                     954,265
                                                                                     
Share premium                                             1,406,359                   1,406,359
                                                        -----------                 -----------
                                                                                     
Total share capital                                       2,385,624                   2,360,624
                                                                                     
Other reserves                                                    -                       7,410
                                                                                     
Profit & loss current period                            (2,427,416)                 (2,328,285)
                                                        -----------                 -----------
                                                                                     
TOTAL SHAREHOLDERS' FUNDS                                  (41,792)                      39,749
                                                        ===========                 ===========


Notes

1.  The  financial  information  for the period ended 31 December 2013  has not been audited and  does  not  constitute
    statutory accounts within the meaning of Section 434 of the Companies Act 2006. 

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

3.  Basic  loss per share figures are calculated using the weighted average of shares in issue in  the  period ended 31
    December 2013, which was 98,296,293 (period from 1 July 2012 to 31 December 2012: 73,023,920). 

    Diluted loss per share figures are calculated using the weighted average of shares in issue in the  period ended 31
    December 2013, which was 98,296,293 (period from 1 July 2012 to 31 December 2012: 73,023,920).

4.  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. 

5.  No interim dividend is to be paid in relation to the six months to 31 December 2013.  No interim  dividend was paid
    in relation to the six months to 31 December 2012.

The Directors of the Company accept responsibility for this announcement.


                                                          --ENDS--


Enquiries: 

TITANIA INTERNET VENTURES PLC 

Pasi Marjanen 

Tel: +357 22 030470 
pasi.marjanen@titaniaplc.com 

SVS Securities plc - ISDX Corporate Adviser 

Kulvir Virk 

Tel: +44 (0)203 700 0100 
kulvir.virk@svssecurities.com 

Titania Internet Ventures plc

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