Interim Results
September 26 2006 - 12:47PM
UK Regulatory
RNS Number:5121J
Azure Holdings PLC
26 September 2006
Azure Holdings Plc (" Company")
Interim results for the six months ended 30 June 2006
Chairman's statement
I am pleased to present the interim accounts for the six months ended 30 June
2006.
In the six months to 30 June 2006 the Company announced a loss after taxation of
#138,000 (2005: #74,000).
The figures should not reflect the future of the Company, which hopefully will
move forward successfully as ValiRx plc from early next month, because, as
announced on 11 September 2006, the reverse acquisition of ValiRx Limited has
been agreed and is subject to shareholders approval at the EGM scheduled for 2
October 2006.
If all the resolutions at that meeting are approved, the Company will retain its
AIM quotation and I will resign as Chairman leaving the new board and Gerry
Desler, Finance Director from the old board, to run the Company.
Barry Gold
Chairman
26 September 2006
Azure Holdings plc
Profit and Loss Account
for the six months ended 30 June 2006
6 months ended 6 months ended Year ended 31
30 June 2006 30 June 2005 December 2005
(unaudited) (unaudited) (audited)
#'000 #'000 #'000
Turnover - - -
Administrative expenses (138) (74) (134)
Operating loss (138) (74) (134)
Loss on ordinary activities before taxation (138) (74) (134)
Tax on loss on ordinary activities - - -
Loss on ordinary activities after taxation (138) (74) (134)
Retained loss for the period (138) (74) (134)
Loss per ordinary share (0.12p) (0.15p) (0.28p)
The profit and loss account has been prepared on the basis that all operations
are continuing operations. All recognised gains or losses are dealt with
through the profit and loss account or statement of recognised gains and losses.
Azure Holdings plc
Balance Sheet
as at 30 June 2006
30 June 2006 30 June 2005 31 December 2005
(unaudited) (unaudited) (audited)
#'000 #'000 #'000
Current assets
Debtors 9 3 1
Cash at bank and in hand 127 1 1
136 4 2
Creditors: amounts falling due within one year (103) (147) (205)
Net current assets/(liabilities) 33 (143) (203)
Total assets less current liabilities 33 (143) (203)
Net (liabilities)/assets 33 (143) (203)
Capital and reserves
Called up Share Capital 6,271 5,475 5,475
Share Premium 9,858 10,279 10,279
Profit and loss account (16,096) (15,897) (15,957)
Equity shareholders funds 33 (143) (203)
Azure Holdings plc
Cash Flow Statement
for the six months ended 30 June 2006
6 months ended 6 months ended
30 June 2006 30 June 2005
(unaudited) (unaudited)
#'000 #'000
Net cash inflow (outflow) from operating
activities (249) (13)
Financing
Issue of ordinary shares 796 -
Share premium reduction arising on
conversion of loan stock (421) -
Increase/(Decrease) in cash 126 (13)
Azure Holdings plc
Notes to the Interim Results
1. The interim results are unaudited and do not constitute statutory
accounts within the meaning of section 240 of the Companies Act 1985. The
figures for the year ended 31 December 2005 have been extracted from the
statutory accounts filed with the registrar of companies on which the auditors
gave an unqualified report.
2. The interim results have been prepared using the accounting
policies set out in the statutory accounts for the year ended 31 December 2005.
3. The comparative figures for the unaudited interim results for the
period ended 30 June 2005 are stated as announced on 27 September 2005.
4. Loss per share
The loss per share for the six months ended 30 June 2006 has been calculated on
the basis of the loss after taxation for the period of #138,000 (2005: #74,000
) and the weighted average number of shares in issue during the period of
118,717,810 (2005: 48,317,569). .
5. The directors do not propose to pay a dividend for the period.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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