Interim Results (4694T)

TIDMSHOK

RNS Number : 4694T

Shellshock Limited

06 December 2011

Shellshock Limited announces unaudited interim results for the 6 months ended 30 September 2011

Belize City, Belize, 6 December 2011 - Shellshock Limited (London-AIM: SHOK) ("Shellshock" or the "Company").

The Company was established in 2007 as a cash-shell entity.

It continues to search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellshock management team.

Current economic and market conditions have made the search challenging, but the Board is confident that suitable investment opportunities will arise when market conditions improve.

The Board notes that, as of the date of this announcement, the shares of Shellshock trade on AIM at an approximate 20% discount to the Company's net asset value.

The Company reports a net profit of LIR23,000 for the six months ended 30 September 2011 (2010 - LIR28,000). Basic and diluted earnings per ordinary share for the six months ended 30 September 2011 amounted to 0.38 pence (2010 - 0.47 pence).

For further information contact:

Shellshock Limited

Belize +501 223 5989

UK +44 (0)20 7248 6700

Note: This and other press releases are available at the Company's web site: http://www.shellshocklimited.com.

 
 
 
 
 
  Shellshock Limited 
 Summarised income statement (unaudited) 
 Six months ended 30 September                2011     2010 
                                            LIR000   LIR000 
 Interest income                                56       60 
 Administrative expenses                      (33)     (32) 
 
 Net profit before and after taxation           23       28 
                                           -------  ------- 
 Earnings per ordinary share (basic 
  and diluted) (in pence)                     0.38     0.47 
                                           -------  ------- 
 
 
 Shellshock Limited 
 Summarised balance sheet (unaudited)    30 September   31 March 
                                                 2011       2010 
                                               LIR000     LIR000 
 Current assets 
 Cash and cash equivalents                      3,032      3,001 
 Other receivables                                  6         19 
                                        -------------  --------- 
 Total assets                                   3,038      3,020 
 Current liabilities 
 Other payables                                  (10)       (15) 
 Net assets                                     3,028      3,005 
                                        -------------  --------- 
 
 Shareholders' equity 
 Share capital                                  3,000      3,000 
 Retained earnings                                 28          5 
 Total shareholders' equity                     3,028      3,005 
                                        -------------  --------- 
 
 
 Shellshock Limited 
 Summarised statement of cash flows 
  (unaudited) 
 Six months ended 30 September                   2011       2010 
                                               LIR000     LIR000 
 
 Net cash generated from operating 
  activities                                       31         46 
                                        -------------  --------- 
 Net increase in cash for the period               31         46 
 Cash at beginning of period                    3,001      2,941 
                                        -------------  --------- 
 Cash at end of period                          3,032      2,987 
                                        -------------  ---------

-ENDS_

This information is provided by RNS

The company news service from the London Stock Exchange

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