TIDMRLH
RNS Number : 9562H
Red Leopard Holdings PLC
27 June 2013
Red Leopard Holdings Plc
("Red Leopard" or the "Company")
Final Results for the year to 31 December 2012
I am pleased to present the financial statements for the year to
31 December 2012 for Red Leopard Holdings Plc and its wholly owned
subsidiaries, Harrell Hotels (Europe) Limited and Red Leopard
Management Limited (together the "Group").
Net deficit on equity of the Group as at 31 December 2012 was
GBP229,575 (2011: GBP78,342) and the loss for the year attributable
to the equity holders of the parent was GBP169,233 (2011:
GBP369,738). The loss for the year, which has been substantially
reduced from last year, can be attributed to the standing costs of
the property business and of the public company.
Throughout the period, the Board continued to investigate and
review investment opportunities, particularly in the property
sector, specifically in the South West of England where it was
considering the continued viability of projects there. Against that
uncertainty the Board announced previously that they were looking
at expanding the objectives of the Company to encompass being
involved in the exploration and development of natural
resources.
This review process has now been completed and the Board has
concluded that any continued efforts in property are no longer
viable and, to all intents and purposes, it has ceased operations
in this area. As a result and in accordance with Rule 15 of the AIM
Rules for Companies the Company will now become an Investing
Company under the AIM Rules. At the forthcoming Annual General
Meeting to approve the accounts and other statutory matters, a
resolution will be put to shareholders to that effect to adopt an
investing policy.
The revised investing policy, if approved, will permit the
Company to pursue investments in the natural resources sector, and
in particular, precious metals. The Directors intend initially to
focus on North America, Europe, the Middle East, Africa and Asia
where the Directors believe that a number of opportunities exist to
acquire interests in suitable projects, although other regions may
be considered. Investments may be made in exploration, development
and/or producing assets. The Company intends to be involved as an
active investor and operator.
The Directors may consider it appropriate to purchase companies
or interests in the assets themselves which may result in an equity
interest in any proposed investment ranging from a minority
position to 100 per cent ownership. Proposed investments may be
made in either quoted or unquoted companies and structured as a
direct acquisition, joint venture or as a direct interest in a
project.
New investments will be held for the medium to longer term,
although shorter term disposal of any investments cannot be ruled
out should such an opportunity present itself. The Directors may
undertake the initial project assessments themselves with
additional independent technical advice as required. The Company
will not have a separate investment manager.
There will be no limit on the number of projects into which the
Company may invest, and the Company's financial resources may be
invested in a number of propositions or in just one investment,
which may be deemed to be a reverse takeover pursuant to Rule 14 of
the AIM Rules. Where the Company builds a portfolio of related
assets it is possible that there may be cross-holdings between such
assets. The Company does not currently intend to fund any
investments with debt or other borrowings but may do so if
appropriate.
The Directors may offer its shares by way of consideration as
well as cash subject to its availability to the Company. The
Company may, in appropriate circumstances, issue debt securities or
otherwise borrow money to complete an investment. The Directors do
not intend to acquire any cross-holdings in other corporate
entities that have an interest in the Ordinary Shares.
I, as Chairman of the Company, have experience in the natural
resources sector. I have experience in acquisitions, accounting,
corporate and financial management and together with the opinion of
consultant experts in the evaluation and exploitation of natural
resources projects, which will assist me and the Board in the
identification and evaluation of suitable opportunities, enabling
the Company to achieve its objectives.
The Board believes this is in the best interests of shareholders
and urges all shareholders to vote for the resolutions as they
themselves, as major shareholders, intend to do.
A notice convening an Annual General Meeting of the Company to
be held on 23 July 2013 at 10.00am at 2nd Floor, Stanmore House,
29/30 St James St, London, SW1A 1HB accompanies the full report and
accounts which have been sent today to shareholders and are
available to download from the Company's website:
www.redleopardholdings.com.
J J May
Chairman
27 June 2013
Enquiries:
Red Leopard Holdings PLC
John May, Chairman Tel: +44 (0) 207 766
0080
Northland Capital Partners Limited
Luke Cairns Tel: +44 (0) 207 796
8800
Consolidated statement of comprehensive income for the year
ended 31 December 2012
2012 2011
GBP GBP
OVERHEADS
Administrative expenses (169,041) (369,728)
OPERATING LOSS (169,041) (369,728)
Finance income 2 3
Finance cost (194) (13)
LOSS FROM CONTINUING ACTIVITIES BEFORE
TAXATION (169,233) (369,738)
Tax expense - -
LOSS FOR THE YEAR ATTRIBUTABLE TO
THE EQUITY HOLDERS OF THE PARENT (169,233) (369,738)
TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE
TO THE EQUITY HOLDERS OF THE PARENT (169,233) (369,738)
========== ==========
Loss per share - basic (0.19)p (0.09)p
Loss per share - diluted (0.19)p (0.09)p
Consolidated statement of financial position
2012 2011
GBP GBP
CURRENT ASSETS
Held for trading financial assets - 35,000
Trade and other receivables 21,357 27,920
Cash and cash equivalents 5,555 10,129
------------ ------------
TOTAL CURRENT ASSETS 26,912 73,049
TOTAL ASSETS 26,912 73,049
------------ ------------
EQUITY
Share capital 1,368,334 1,350,334
Share premium account 3,097,263 3,097,263
Share based payment reserve 60,002 60,002
Retained earnings (4,755,174) (4,585,941)
------------ ------------
TOTAL EQUITY (229,575) (78,342)
------------ ------------
CURRENT LIABILITIES
Trade and other payables 256,487 151,391
------------ ------------
TOTAL CURRENT LIABILITIES 256,487 151,391
TOTAL LIABILITIES 256,487 151,391
------------ ------------
TOTAL EQUITY AND LIABILITIES 26,912 73,049
============ ============
Company statement of financial position for the year ended 31
December 2012
Year ended Year ended
31 December 31 December
2012 2011
GBP GBP
NON-CURRENT ASSETS
Investments 100 100
------------- -------------
TOTAL NON-CURRENT ASSETS 100 100
CURRENT ASSETS
Held for trading financial assets - 35,000
Trade and other receivables 20,309 26,877
Cash and cash equivalents 5,555 9,107
------------- -------------
TOTAL CURRENT ASSETS 25,864 70,984
TOTAL ASSETS 25,964 71,084
------------- -------------
EQUITY
Share capital 1,368,334 1,350,334
Share premium account 3,097,263 3,097,263
Share based payment reserve 60,002 60,002
Retained earnings (4,762,572) (4,593,507)
------------- -------------
TOTAL EQUITY (236,973) (85,908)
CURRENT LIABILITIES
Trade and other payables 262,937 156,992
------------- -------------
TOTAL CURRENT LIABILITIES 262,937 156,992
TOTAL LIABILITIES 262,937 156,992
------------- -------------
TOTAL EQUITY AND LIABILITIES 25,964 71,084
============= =============
Consolidated statement of changes in equity for the year ended
31 December 2012
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January
2012 1,350,334 3,097,263 60,002 (4,585,941) (78,342)
Loss for the
year - - - (169,233) (169,233)
-------------- ---------- --------- ------------ ----------
Total comprehensive
income - - - (169,233) (169,233)
-------------- ---------- --------- ------------ ----------
Transactions
with owners:
Issue of share
capital 18,000 - - - 18,000
-------------- ---------- --------- ------------ ----------
Total transactions
with owners 18,000 - - - 18,000
-------------- ---------- --------- ------------ ----------
At 31 December
2012 1,368,334 3,097,263 60,002 (4,755,174) (229,575)
============== ========== ========= ============ ==========
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January
2011 886,918 3,097,263 60,002 (4,216,203) (172,020)
Loss for the
year - - - (369,738) (369,738)
-------------- ---------- --------- ------------ ----------
Total comprehensive
income - - - (369,738) (369,738)
-------------- ---------- --------- ------------ ----------
Transactions
with owners:
Issue of share
capital 463,416 - - - 463,416
-------------- ---------- --------- ------------ ----------
Total transactions
with owners 463,416 - - - 463,416
-------------- ---------- --------- ------------ ----------
At 31 December
2011 1,350,334 3,097,263 60,002 (4,585,941) (78,342)
============== ========== ========= ============ ==========
Company statement of changes in equity for the year ended 31
December 2012
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January 2012 1,350,334 3,097,263 60,002 (4,593,507) (85,908)
Loss for the year - - - (169,065) (169,065)
------------- --------- -------- ----------- ---------
Total comprehensive
income - - - (169,065) (169,065)
------------- --------- -------- ----------- ---------
Transactions with
owners:
Issue of share capital 18,000 - - - 18,000
------------- --------- -------- ----------- ---------
Total transactions
with owners 18,000 - - - 18,000
------------- --------- -------- ----------- ---------
At 31 December 2012 1,368,334 3,097,263 60,002 (4,762,572) (236,973)
============= ========= ======== =========== =========
Share
Share based
premium payment Retained Total
Share capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January 2011 886,918 3,097,263 60,002 (4,223,831) (179,648)
Loss for the year - - - (369,676) (369,676)
------------- --------- -------- ----------- ---------
Total comprehensive
income - - - (369,676) (369,676)
------------- --------- -------- ----------- ---------
Transactions with
owners:
Issue of share capital 463,416 - - - 463,416
------------- --------- -------- ----------- ---------
Total transactions
with owners 463,416 - - - 463,416
------------- --------- -------- ----------- ---------
At 31 December 2011 1,350,334 3,097,263 60,002 (4,593,507) (85,908)
============= ========= ======== =========== =========
Consolidated statement of cash flows for the year ended 31
December 2012
2012 2011
GBP GBP
CASH FLOWS USED IN OPERATING ACTIVITIES (46,428) (448,851)
INVESTING ACTIVITIES
Purchase of held for sale financial
assets - (35,000)
Interest received 2 3
Interest paid (194) (13)
--------- ----------
CASH FLOWS USED IN INVESTING ACTIVITIES (192) (35,010)
FINANCING ACTIVITIES
Issue of share capital - 229,415
Proceeds from issue of convertible
loan note 13,000 154,000
Proceeds from issue of short term
loans 29,046 80,000
CASH FLOWS GENERATED FROM FINANCING
ACTIVITIES 42,046 463,415
NET DECREASE IN CASH AND CASH EQUIVALENTS (4,574) (20,446)
--------- ----------
Cash and cash equivalents brought
forward 10,129 30,575
CASH AND CASH EQUIVALENTS CARRIED
FORWARD 5,555 10,129
========= ==========
Company statement of cash flows
2012 2011
GBP GBP
CASH FLOWS USED IN OPERATING ACTIVITIES (45,406) (439,781)
INVESTING ACTIVITIES
Purchase of held for sale financial
assets - (35,000)
Interest received 2 3
Interest paid on loans (194) (13)
--------- ----------
CASH FLOWS USED IN INVESTING ACTIVITIES (192) (35,010)
FINANCING ACTIVITIES
Issue of share capital - 229,415
Proceeds from issue of convertible
loan note 13,000 154,000
Proceeds from issue of short term
loans 29,046 80,000
CASH FLOWS GENERATED FROM FINANCING
ACTIVITIES 42,046 463,415
NET DECREASE IN CASH AND CASH EQUIVALENTS (3,552) (11,376)
--------- ----------
Cash and cash equivalents brought
forward 9,107 20,483
CASH AND CASH EQUIVALENTS CARRIED
FORWARD 5,555 9,107
========= ==========
Notes:
1. This statement has been prepared using accounting policies
and presentation consistent with those applied in the preparation
of the statutory accounts of the Company.
2. The summary accounts set out above do not constitute
statutory accounts as defined by Section 428 of the UK Companies
Act 2006. The consolidated statement of comprehensive income, the
consolidated and company statements of financial position,
consolidated and company statement of changes in equity and the
consolidated and company statements of cash flows for the year
ended 31 December 2012 have been extracted from the Group's 2012
statutory financial statements upon which the auditor's opinion is
unqualified. The results for the year ended 31 December 2012 have
been extracted from the statutory accounts for that period, which
contain an unqualified auditor's report.
3. Basic loss per ordinary share for the year is based on the
loss of GBP169,233 (2011: GBP369,738) and a weighted average of
90,830,543 (2011: 414,215,286) ordinary shares.
For diluted loss per share, the weighted average number of
ordinary shares in issue is adjusted to assume conversion of all
potential dilutive ordinary shares. Items included in the
calculation are options for ordinary shares.
The effect of conversion of all potential dilutive ordinary
shares would have an anti-dilutive effect on earnings per share and
therefore they have been incorporated in the diluted earnings per
share calculation. Potential ordinary shares are only treated as
dilutive when their conversion to ordinary shares would decrease
profit per share or increase loss per share.
4. The annual report and accounts were posted today to
shareholders. These are also available to download from the
Company's website, www.redleopardholdings.com.
5. An Annual General Meeting of the Company will be held on 23
July 2013 at 10am, at 2nd Floor, Stanmore House, 29/30 St James St,
London, SW1A 1HB.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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