Chapmore Plc
LSE : CHAP

August 28, 2012 09:49 ET

Unaudited interim results - six months to 31 May 2012

Chapmore  Plc ("Chapmore" or "The Company")
                                                   
UNAUDITED INTERIM FINANCIAL STATEMENTS FOR THE SIX MONTHS PERIOD TO 31 MAY 2012

Highlights:

The  Company  posted a pre-tax loss of GBP63,283 for the six months ended 31 May  2012  (31  May  2011
profit of GBP3,583).

Overview

The  Company  remains  a  cash  shell at present but we are actively seeking  investments  to  enhance
shareholder value.   We are maintaining a tight control of the Company's resources, which we  consider
adequate to support current levels of expenditure.

Outlook

It  may  however be that the Board during the current financial year will seek to increase the capital
base  of the Company via the issue of new equity. The rationale for this is twofold; firstly to ensure
sufficient  continued  operating  resources, and secondly  the  fact  that  having  greater  financial
resources available would enhance the ability of the Company to attract good quality deals.

The  Directors  are  presented with opportunities on an ongoing basis from  an  extensive  network  of
contacts.  Many of those which have been evaluated have been considered too small, with the  Directors
being  mindful that microcap companies are not looked at favourably in current market conditions,  and
therefore  often  trade at a significant discount to fair value. To date none of the  businesses  have
presented the right reward profile in terms of value creation for the shareholders, but your Board  is
committed to identifying and consummating a suitable acquisition



T. O Kristensen

Director



Unaudited Profit & Loss Account

                                                       Unaudited           Unaudited              Audited
                                                    Period ended        Period ended         Period ended
                                                     31 May 2012         31 May 2011          30 Nov 2011
                                                         GBP'000             GBP'000              GBP'000
                                                                                          
Turnover                                                       -                  18                   18
Cost of sales                                                  -                   -                    -
                                                        --------            --------             --------
Gross profit                                                   -                  18                   18
                                                                     
Administration expenses                                      (63)                (14)                (109)
                                                        --------            --------             --------  
                                                                                                         
(Loss)/profit on ordinary activities before                                                              
taxation                                                     (63)                  4                  (91)
                                                                                                       
Profit on disposal of discontinued operations                  -                   -                    5

Taxation                                                       -                   -                    -
                                                        --------            --------             --------
Profit/(loss) on ordinary activities after                                                               
taxation                                                     (63)                  4                  (86)
                                                        ========            ========             ========  

Earnings per share                                                                                       
Basic                                                   (0.303)p              0.033p              (0.67)p
Diluted                                                 (0.303)p              0.031p              (0.67)p
                                                                                                         

Unaudited Balance Sheet as at 31 May 2012
                                                       Unaudited           Unaudited              Audited
                                                    Period ended        Period ended         Period ended
                                                     31 May 2012         31 May 2011          30 Nov 2011
                                                         GBP'000             GBP'000              GBP'000
Assets                                                                                                   
Current assets                                                                                           
Debtors                                                       78                   4                   46
Cash at bank                                                  12                  26                   53
                                                        --------            --------             --------
Total current assets                                          90                  30                   99
                                                                                                         
Creditors: amounts falling due within one year                                                           
                                                            (127)                (60)                 (73)
                                                        --------            --------             --------
Net current liabilities                                      (37)                (30)                  26
                                                                                                         
Creditors: Amounts falling due after more than                                                           
one year                                                                                               (7)
                                                        --------            --------             --------
Total assets less current liabilities                        (37)                (30)                  19
                                                        ========            ========             ========

Capital & reserves                                                                                       
Share capital                                                423                 418                  423
Share premium                                                302                 174                  302
Share based payment reserve                                  139                 136                  136
Loan note equity reserve                                      10                                        6
Profit & loss account                                       (911)               (758)                (848)
                                                        --------            --------             --------
Total shareholders' funds                                    (37)                (30)                  19
                                                        ========            ========             ========

Notes

1        The  financial information contained in this statement does not constitute statutory accounts
         as  defined  in section 435 of the Companies Act 2006. These statements, which are unaudited,
         have  been prepared under the historical cost convention. The financial information  has  not
         been  reviewed  by  the  Company's auditor. The comparative figures for  the  year  ended  30
         November  2011  have been extracted from the statutory accounts filed with the  Registrar  of
         Companies.
         
2        Earnings per share                                                                            
                                                     Unaudited            Unaudited             Audited
                                                  Period ended         Period ended        Period ended
                                                   31 May 2012          31 May 2011         30 Nov 2011
                                                                                                       
         Basic                                                                           
                                                                                                       
         (Loss)/profit for the period              GBP(63,283)             GBP3,583         GBP(85,965)
                                                                                                       
         Average weighted number of shares in                                                          
         issue                                     20,892,910            10,802,088         12,757,325
          
                                                                                             
         Basic earnings per share                    (0.303)p                0.033p            (0.67)p
                                                                                                       
         Diluted                                                                                       
                                                                                                       
         Average weighted number of shares in                                                          
         issue, including                                                                              
         potentially dilutive instruments          24,327,609            11,652,088         14,079,928
         
         Diluted earnings per share                  (0.303)p                0.031p            (0.67)p
                                                                                         
         Where  the company made losses in any reporting period, conversion of all potentially dilutive
         ordinary  shares  is not taken into account and diluted earnings per share  are  the  same  as
         basic.

3        Copies of the statement will be despatched to shareholders.  Copies of this announcement  are
         available from: The Secretary, Chapmore Plc, Finsgate, 5-7 Cranwood Street, London EC1V 9EE


The directors of the issuer accept responsibility for this announcement.

Note to editors:
Chapmore plc (PLUS: CHAP) was floated on PLUS markets in November 2007. The company is a cash shell.


CONTACT DETAILS:

Tom Kristensen
Chapmore Plc
Tel: +44 (0) 7734 266 119

Nick Michaels
Alfred Henry Corporate Finance Ltd
www.alfredhenry.com
Tel: +44 (0) 20 7251 3762


28 August 2012

Contact Information

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