Interim Results
September 28 2005 - 3:02AM
UK Regulatory
RNS Number:8497R
9999 plc
28 September 2005
9999 Plc
INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2005
CHAIRMAN'S STATEMENT
When the Company was admitted to AIM in March of this year its stated strategy
was to seek investments in specific areas of the financial services sector,
namely:
* financial trading entities using technical and fundamental principles
to trade in the equity markets, currencies and equity future markets
in the UK and US;
* stockbrokers, either quoted or unquoted; and
* certain sectors within the independent financial advisory arena.
Since coming to the market the Board has been, and is continuing to seek and
identify investments in the sectors noted above
The Company's cash balances at 30 June 2005, after settling the costs of the
placing and admission to AIM, were #219,472. The Company's very low level of
overhead expenditure means that cash levels have not reduced significantly since
that date. The Directors have placed the Company's free cash balances on
interest bearing deposit account with its bankers pending identification of an
appropriate investment opportunity.
I look forward to updating you further on our progress.
Dr MS Kalairajah
Executive Chairman
28 September 2005
Profit and Loss Account
for the period ended 30 June 2005
(Unaudited)
Period ending
Notes 30 June 2005
#
Administrative expenses (10,537)
Loss on ordinary activities before interest (10,537)
Interest receivable 1,109
Loss on ordinary activities after taxation (9,428)
Tax on ordinary activities -
Loss on ordinary activities after taxation (9,428)
Dividends -
Retained loss for the period (9,428)
Loss per share: Basic 2 (0.021) pence
Fully diluted 2 (0.018) pence
The period ended 30 June 2005 was the Company's first period of trading and
hence no comparative amounts are presented.
Balance Sheet
for the period to 30 June 2005
(Unaudited)
30 June 2005
Note #
Current assets
Cash at bank and in hand 219,472
219,472
Creditors: amounts falling due within one year (3,265)
Net current assets 216,207
Total assets less current liabilities 216,207
Creditors: amounts falling due after more than one year -
Net assets 216,207
Capital and reserves
Share capital 3 112,500
Share premium account 113,135
Profit and loss account (9,428)
Shareholders' funds - equity 216,207
The period ended 30 June 2005 was the Company's first period of trading and
hence no comparative amounts are presented.
Statement of Cash flows
for the period ended 30 June 2005
(Unaudited)
Period
ending
Notes 30 June 2005
#
Net cash outflow from operating activities 4 (7,272)
Returns on investments and servicing of finance
Interest received 1,109
Net cash flow before financing (6,163)
Financing
Issue of ordinary share capital 300,000
Costs of issue of share capital (74,365)
Increase in cash 219,472
Reconciliation of net cash flow to movement in net debt
Increase/(Decrease) in cash in the period 219,472
Net funds at incorporation -
Net funds at 30 June 5 219,472
The period ended 30 June 2005 was the Company's first period of trading and
hence no comparative amounts are presented.
NOTES:
1. Basis of preparation
The interim financial report for the period from incorporation on 8 March 2005
to 30 June 2005 was approved by the Board of 9999 Plc ('the Company') on 28
September 2005. The interim financial report has not been audited and does not
constitute statutory financial statements for the purposes of section 240 of the
Companies Act 1985. The interim financial report has been prepared using
accounting policies consistent with those used in preparing the non-statutory
financial information on the Company included in the Company's AIM admission
document dated 29 March 2005.
The Company has not previously been required to prepare or file audited
statutory financial statements. The financial information in respect of the
period ended 30 June 2005 has been derived from the unaudited management
information for the Company in relation to the period then ended. The Company's
first statutory accounting period for which audited financial statements will be
prepared will be the year ending 31 March 2006.
2. Loss per share
Basic loss per share is calculated on the basis of the net loss attributable to
ordinary shareholders divided by the weighted average number of shares in issue
during the period ended 30 June 2005 of 45,000,000.
Diluted loss per share represents basic loss per share after allowing for the
dilutive effect of the conversion into ordinary shares of the weighted average
number of options outstanding during the period. The total number of shares in
issue used to calculate the diluted earnings per share in the period ended 30
June 2005 was 51,000,000.
3. Share capital
30 June
2005
#
Authorised
400,000,000 ordinary shares of 0.25p each 1,000,000
Allotted, called up and fully paid
45,000,000 ordinary shares of 0.25p each 112,500
The Company was incorporated on 8 March 2005 with an authorised share capital of
#1,000,000 divided into 1,000,000,000 ordinary shares of 0.1 pence each, of
which 2 were issued fully paid to subscribers. Subsequently, on 10 March 2005,
an additional 3 ordinary shares of 0.1 pence each were issued.
On 10 March 2005 resolutions were passed consolidating the Company's share
capital into #1,000,000 divided into 400,000,000 Ordinary shares of 0.25 pence
each, authorising the directors to allot relevant securities, dis-apply
pre-emption rights and authorising the directors to grant options.
Subsequently, on 10 March 2005, the Company issued 19,999,998 new ordinary
shares fully paid to subscribers at 0.25 pence per share.
0n 31 March 2005, a further 25,000,000 new ordinary shares of 0.25 pence per
share were issued at the placing price of 1 pence per share. At that date there
were 45,000,000 ordinary shares of 0.25 pence in issue, all fully paid.
At 30 June 2005 the Company had issued options to subscribe for 5,000,000
ordinary shares to the executive directors of the Company and a further
1,000,000 ordinary shares to the non-executive director of the Company, all at 1
pence per share. The options issued to the executive directors are exercisable
at any time up to five years from the date of admission to AIM provided that the
Company has successfully completed its first investment transaction within 12
months of admission. The non-executive options are exercisable at any time up
to five years from the date of admission to AIM.
4. Net Cash Outflow from Operating Activities
30 June
2005
#
Operating loss (10,537)
Increase in Creditors 3,265
(7,272)
5. Analysis of Net Debt
At At 30 June
incorporation 2005
Cash flow
# #
#
Cash at bank and in hand - 219,472 219,472
Bank overdrafts - - -
- 219,472 219,472
6. A copy of this interim financial report is being sent to all
shareholders and further copies are available from the Company's Registered
Office at the address below:
9999 Plc, Third Floor, 3 College Approach, Greenwich, London SE10 9HY.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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