TIDMRLH
RNS Number : 6747K
Red Leopard Holdings PLC
27 June 2014
Red Leopard Holdings Plc
("Red Leopard" or the "Company")
Final Results for the year to 31 December 2013
I am pleased to present the financial statements for the year to
31 December 2013 for Red Leopard Holdings Plc and its wholly owned
subsidiaries (together the "Group").
Total equity of the Group as at 31 December 2013 was
GBP320,111(2012: deficit GBP229,575) and the loss for the year
attributable to the equity holders of the parent was
GBP358,681(2012: GBP169,233).
As at 31 December 2013 net cash for the Group was
GBP120,999(2012: GBP5,555).
On 23 July 2013, following shareholder approval at the 2012 AGM,
the Company ceased its operations in the property sector and became
an investing company pursuant to Rule 15 of the AIM Rules, at which
time it adopted an investing policy which focused on the
exploration and development of natural resources. On 6 September
2013, in accordance with this new policy, Red Leopard acquired the
entire issued share capital of Red Leopard Mining Inc ('RLM'), a
transaction which constituted a reverse takeover under the AIM
Rules. RLM, an Idaho incorporated company, was established in 2013
as a special purpose vehicle into which 205 unencumbered claims
(the "Claims") were transferred by Polaris Resources Inc, a wholly
owned subsidiary of Quest Minerals Corporation,
The Claims are located in the vicinity of Shoshone County,
Idaho, USA, commonly referred to as "Silver Valley". This area is
well known as the premier silver district in North America, with
total historic production to 2013 of around 1.2 billion ounces of
silver and substantial lead, zinc, copper and gold. Most of the
Claims, which cover a total land area of approximately 1,435
hectares (the equivalent to 3,546 acres), lie within the Panhandle
National Forest and upon Bureau of Land Management ("BLM")
land.
On the Claims land sits the Idora Tunnel. The Company recently
submitted to the BLM for review and comment, a detailed written
plan of operations to reopen the Idora Tunnel for purposes of
exploration. Whilst the Company cannot predict with certainty the
ultimate timing or actual approval of such plan of operations, RLM
management remains confident that approval will be obtained.
Whilst the directors have been exploring other opportunities in
the Coeur d'Alene mining district, the Company has also been
proactive in considering other complimentary resource assets, in
particular in Chile, and earlier this year established a wholly
owned subsidiary, Minera Red Leopard Chile SpA ("MRLC"). Through
MRLC, the Company recently assisted in the facilitation of the sale
by Sociedad De Asesoria Jurdica y Economica Minem S.A. ("Minem"), a
private company, of two properties, TresAmantes and San Antonio,
located in the Atacama Region of Chile, to TSXV listed Cougar
Minerals Corp ("Cougar"). In consideration, Minem paid the Company
US$25,000 in cash and 300,000 ordinary shares ("Consideration
Shares") in Cougar representing a proportion of the consideration
Minem received for the properties, as announced on 7 April
2014.
A notice convening an Annual General Meeting of the Company to
be held on 22 July 2014 at 10 am at 50 Jermyn Street, London SW1Y
6LX 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
Enquiries:
Red Leopard Holdings PLC
John May, Chairman Tel: +44 (0) 207
917 6822
Northland Capital Partners
Limited
Gavin Burnell/ Lauren Kettle Tel: +44 (0) 207
382 1100
Consolidated statement of comprehensive income for the year
ended 31 December 2013
2013 2012
GBP GBP
OVERHEADS
Administrative expenses (358,681) (169,041)
OPERATING LOSS (358,681) (169,041)
Finance income - 2
Finance cost - (194)
LOSS FROM CONTINUING ACTIVITIES
BEFORE TAXATION (358,681) (169,233)
Tax expense - -
LOSS FOR THE YEAR ATTRIBUTABLE
TO THE EQUITY HOLDERS OF
THE PARENT (358,681) (169,233)
TOTAL COMPREHENSIVE INCOME
ATTRIBUTABLE TO THE EQUITY
HOLDERS OF THE PARENT (358,681) (169,233)
========== ==========
Loss per share - basic (0.28)p (0.19)p
Loss per share -diluted (0.28)p (0.19)p
Consolidated statement of financial position
2013 2012
GBP GBP
NON CURRENT ASSETS
Intangible assets 433,333 -
------------ ------------
433,333 -
CURRENT ASSETS
Trade and other receivables 28,758 21,357
Cash and cash equivalents 120,999 5,555
------------ ------------
TOTAL CURRENT ASSETS 149,757 26,912
TOTAL ASSETS 583,090 26,912
------------ ------------
EQUITY
Share capital 1,500,800 1,368,334
Share premium account 3,862,860 3,097,263
Share based payment reserve 60,002 60,002
Retained earnings (5,103,551) (4,755,174)
------------ ------------
TOTAL EQUITY 320,111 (229,575)
------------ ------------
CURRENT LIABILITIES
Trade and other payables 262,979 256,487
------------ ------------
TOTAL CURRENT LIABILITIES 262,979 256,487
TOTAL LIABILITIES 262,979 256,487
------------ ------------
TOTAL EQUITY AND LIABILITIES 583,090 26,912
============ ============
Company statement of financial position for the year ended 31
December 2013
Year ended Year ended
31 December 31 December
2013 2012
GBP GBP
NON-CURRENT ASSETS
Investments 433,433 100
------------- -------------
TOTAL NON-CURRENT ASSETS 433,433 100
CURRENT ASSETS
Trade and other receivables 27,704 20,309
Cash and cash equivalents 120,992 5,555
------------- -------------
TOTAL CURRENT ASSETS 148,696 25,864
TOTAL ASSETS 582,129 25,964
------------- -------------
EQUITY
Share capital 1,500,800 1,368,334
Share premium account 3,862,860 3,097,263
Share based payment reserve 60,002 60,002
Retained earnings (5,110,113) (4,762,572)
------------- -------------
TOTAL EQUITY 313,549 (236,973)
CURRENT LIABILITIES
Trade and other payables 268,580 262,937
------------- -------------
TOTAL CURRENT LIABILITIES 268,580 262,937
TOTAL LIABILITIES 268,580 262,937
------------- -------------
TOTAL EQUITY AND LIABILITIES 582,129 25,964
============= =============
Consolidated statement of changes in equity for the year ended
31 December 2013
Share
Share based
Share premium payment Retained Total
capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January
2013 1,368,334 3,097,263 60,002 (4,755,174) (229,575)
Loss for the
year - - - (358,681) (358,681)
---------- ---------- --------- ------------ ----------
Total comprehensive
income 1,368,334 3,097,263 60,002 (5,113,855) (588,256)
---------- ---------- --------- ------------ ----------
Transactions
with owners:
Equity component
of compound
instrument - - - 10,304 10,304
Issue of share
capital 132,466 765,597 - - 898,063
---------- ---------- --------- ------------ ----------
Total transactions
with owners 132,466 765,597 - 10,304 908,367
---------- ---------- --------- ------------ ----------
At 31 December
2013 1,500,800 3,862,860 60,002 (5,103,551) 320,111
========== ========== ========= ============ ==========
Share
Share based
Share premium payment Retained Total
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)
========== ========== ========= ============ ==========
Company statement of changes in equity for the year ended 31
December 2013
Share
Share based
Share premium payment Retained Total
capital account reserve earnings equity
GBP GBP GBP GBP GBP
At 1 January
2013 1,368,334 3,097,263 60,002 (4,762,572) (236,973)
Loss for the
year - - - (357,845) (357,845)
--------- --------- -------- ----------- ---------
Total comprehensive
income 1,368,334 3,097,263 60,002 (5,110,113) (594,818)
--------- --------- -------- ----------- ---------
Transactions
with owners:
Equity component
of compound
instrument - - - 10,304 10,304
Issue of share
capital 132,466 765,597 - - 898,063
--------- --------- -------- ----------- ---------
Total transactions
with owners 132,466 765,597 - 10,304 908,367
--------- --------- -------- ----------- ---------
At 31 December
2013 1,500,800 3,862,860 60,002 (5,110,113) 313,549
========= ========= ======== =========== =========
Share
Share based
Share premium payment Retained Total
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)
========= ========= ======== =========== =========
Consolidated statement of cash flows for the year ended 31
December 2013
2013 2012
GBP GBP
CASH FLOWS USED IN OPERATING
ACTIVITIES (205,953) (46,428)
INVESTING ACTIVITIES
Interest received - 2
Interest paid - (194)
---------- ---------
CASH FLOWS USED IN INVESTING
ACTIVITIES - (192)
FINANCING ACTIVITIES
Issue of share capital 321,397 -
Proceeds from issue of convertible
loan note - 13,000
Proceeds from issue of short
term loans - 29,046
CASH FLOWS GENERATED FROM
FINANCING ACTIVITIES 321,397 42,046
NET INCREASE/(DECREASE) IN
CASH AND CASH EQUIVALENTS 115,444 (4,574)
---------- ---------
Cash and cash equivalents
brought forward 5,555 10,129
CASH AND CASH EQUIVALENTS
CARRIED FORWARD 120,999 5,555
========== =========
Company statement of cash flows
2013 2012
GBP GBP
CASH FLOWS USED IN OPERATING
ACTIVITIES (205,960) (45,406)
INVESTING ACTIVITIES
Interest received - 2
Interest paid on loans - (194)
---------- ---------
CASH FLOWS USED IN INVESTING
ACTIVITIES - (192)
FINANCING ACTIVITIES
Issue of share capital 321,397 -
Proceeds from issue of convertible
loan note - 13,000
Proceeds from issue of short
term loans - 29,046
CASH FLOWS GENERATED FROM
FINANCING ACTIVITIES 321,397 42,046
NET INCREASE/(DECREASE) IN
CASH AND CASH EQUIVALENTS 115,437 (3,552)
---------- ---------
Cash and cash equivalents
brought forward 5,555 9,107
CASH AND CASH EQUIVALENTS
CARRIED FORWARD 120,992 5,555
========== =========
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 2013 have been extracted from the Company's 2013
statutory financial statements upon which the auditor's opinion is
unqualified. The results for the year ended 31 December 2013 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 GBP358,681 (2012: GBP169,233) and a weighted average of
127,690,964(2012: 90,830,543) 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 22
July 2014 at 10 am, at 50 Jermyn Street London, SW1Y 6LX
This information is provided by RNS
The company news service from the London Stock Exchange
END
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