Equatorial Palm Oil plc Interim Results -2-
September 30 2013 - 2:01AM
UK Regulatory
Other comprehensive income
Exchange gains/(losses)
arising on translation
of foreign operations (46) 63 106
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Total comprehensive income
for the period (1,702) (1,507) (3,708)
--------------- --------------- --------------
Loss per share expressed
in cents per share
- Basic & diluted 3 (1.1) cents (1.2) cents (3.0) cents
EQUATORIAL PALM OIL PLC
GROUP STATEMENT OF FINANCIAL POSITION
AS AT 30 JUNE 2013
30 June 2013 30 June 2012 31 December
2012
(unaudited) (unaudited) (audited)
Note
$'000 $'000 $'000
ASSETS
Non-current assets
Investment in joint venture 4 18,298 20,508 19,103
18,298 20,508 19,103
-------------- -------------- -------------
Current assets
Receivables from joint venture 4 5,656 - -
Trade and other receivables 19 248 565
Cash & cash equivalents 9 1,734 551
-------------- -------------- -------------
5,684 1,982 1,116
LIABILITIES
Current liabilities
Short term debt 335 - -
Trade and other payables 369 291 183
704 291 183
-------------- -------------- -------------
Net current assets 4,980 1,691 933
-------------- -------------- -------------
NET ASSETS 23,278 22,199 20,036
============== ============== =============
SHAREHOLDERS' EQUITY
Share capital 5 2,445 1,969 1,969
Share premium 34,498 30,402 30,402
Warrant and option reserve 6 1,358 1,030 1,466
Foreign exchange reserve 34 37 80
Retained loss (15,057) (11,239) (13,881)
Total equity 23,278 22,199 20,036
============== ============== =============
EQUATORIAL PALM OIL PLC
GROUP CASH FLOW STATEMENT
FOR THE PERIOD ENDED 30 JUNE 2013
Period ended Period ended Year ended
30 June 2013 30 June 2012 31 December
2012
(unaudited) (unaudited) (audited)
$'000 $'000 $'000
Cash flows from operating activities
Loss for the year before and
after taxation (1,656) (1,570) (3,814)
Decrease in receivables 546 354 37
Increase in payables 185 129 8
Share options expense 97 - 38
Share of operating loss of joint
venture 805 474 1,880
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Net cash outflow from operating
activities (23) (613) (1,851)
--------------- --------------- --------------
Cash flows from investing activities
Funds loaned to joint venture (5,656) - -
Net cash outflow from investing (5,656) - -
activities
--------------- --------------- --------------
Cash flows from financing activities
Loan funds received 335 - -
Issue of ordinary share capital
(net of expenses) 4,976 968 968
Share issue costs (129) - -
--------------- --------------- --------------
Net cash inflow from financing
activities 5,182 968 968
--------------- --------------- --------------
Net increase/(decrease) in cash
and cash equivalents (497) 355 (883)
Cash and cash equivalents at
beginning of period 551 1,329 1,329
Exchange gains/(losses) on cash
and cash equivalents (45) 50 105
Cash and cash equivalents at
end of period 9 1,734 551
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EQUATORIAL PALM OIL PLC
GROUP STATEMENT OF CHANGES IN EQUITY
FOR THE PERIOD ENDED 30 JUNE 2013
Called Foreign Warrant
up share Share premium exchange and option Retained Total equity
capital reserve reserve reserve earnings
$'000 $'000 $'000 $'000 $'000 $'000
As at 1 January
2012 1,914 29,489 (26) 2,092 (10,731) 22,738
Share capital issued 55 913 - - - 968
Exercise and expiry
of warrants and
options - - - (1,062) 1,062 -
Total comprehensive
income for the period - - 63 - (1,570) (1,507)
As at 30 June 2012 1,969 30,402 37 1,030 (11,239) 22,199
----------- --------------- ----------- -------------- ----------- ----------------
As at 1 January
2012 1,914 29,489 (26) 2,092 (10,731) 22,738
Share capital issued 55 913 - - - 968
Exercise and expiry
of warrants and
options - - - (664) 664 -
Share-based payments - - - 38 - 38
Total comprehensive
income for the period - - 106 - (3,814) (3,708)
As at 31 December
2012 1,969 30,402 80 1,466 (13,881) 20,036
----------- --------------- ----------- -------------- ----------- ----------------
Share capital issued 476 4,500 - - - 4,976
Cost of share issue - (129) - - - (129)
Warrants issued
in relation to share
capital issued - (275) - 275 - -
Expiry of warrants
and options - - - (480) 480 -
Share-based payments - - - 97 - 97
Total comprehensive
income for the period - - (46) - (1,656) (1,702)
As at 30 June 2013 2,445 34,498 34 1,358 (15,057) 23,278
----------- --------------- ----------- -------------- ----------- ----------------
EQUATORIAL PALM OIL PLC
NOTES TO THE INTERIM FINANCIAL STATEMENTS
FOR THE PERIOD ENDED 30 JUNE 2013
1. Basis of preparation
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