Stratmin Global Resources PLC Half Yearly Report -2-
September 27 2012 - 2:00AM
UK Regulatory
Increase/(decrease) in trade and
other payables 36 (22) (57)
------------------------------------------ ---------- ---------- ----------
Net cash outflow from operating
activities (312) (74) (392)
------------------------------------------ ---------- ---------- ----------
INVESTING ACTIVITIES
Purchase of investments (820) (1,963) (2,669)
Disposals of investments 200 - 1,263
Net cash outflow from investing
activities (620) (1,963) (1,405)
------------------------------------------ ---------- ---------- ----------
FINANCING ACTIVITIES
Proceeds from share issues 728 365 515
Share issue expenses - - (44)
Interest paid (8) (81) -
Proceeds from issue of loan notes - 240 240
Repayment of loan notes - - (150)
Net cash inflow from financing
activities 720 524 561
------------------------------------------ ---------- ---------- ----------
Net (decrease)/increase in cash
and cash equivalents (212) (1,513) (1,236)
Balance at beginning of period 336 1,576 1,576
Effect of foreign exchange rate
changes - (2) (4)
Cash and cash equivalents as at
30 June 2012 124 61 336
------------------------------------------ ---------- ---------- ----------
Notes to the interim statement
For the 6 months ended 30 June 2012
1. General information
StratMin Global Resources plc is a company incorporated in the
United Kingdom under the Companies Act 2006. The Company's main
activity is that of an investment company.
The Company's functional currencies are Sterling and US dollar.
The Company's financial statements are presented in Sterling, which
is the Company's presentational currency.
2. Basis of preparation
The financial information set out in this interim report for the
six months ended 30 June 2012 are unaudited and do not constitute
statutory accounts as defined in Section 434 of Companies Act 2006.
The group's statutory financial statements for the period ended 31
December 2011, prepared under International Financial Reporting
Standards (IFRS), have been filed with the Registrar of Companies.
The auditor's report on those financial statements was unqualified
and did not contain a statement under section 498 (2) or (3) of the
Companies Act 2006.
The interim financial statements of StratMin Global Resources
plc have been prepared in accordance with the recognition and
measurement principles of International Financial Reporting
Standards (IFRS) as adopted by the European Union (EU) and on the
same basis and using the same accounting policies as used in the
Company's Annual Report and Accounts for the year ended 31 December
2011.
These financial statements have been prepared on a going concern
basis under the historical cost convention. The Directors believe
that the going concern basis is appropriate for the preparation of
these interim financial statements as the Company is in a position
to meet all its liabilities as they fall due. These interim
financial statements for the six months to 30 June 2012 were
approved by the board on xx September 2012.
3. Loss per share
Loss per share is calculated by reference to the weighted
average of 68,347,357 ordinary shares in issue during the period
(31 December 2011 - 57,471,540).
The diluted loss per share is the same as the basic loss per
share as the losses in each period have an anti-dilutive
effect.
4. Dividend
The board is not recommending the payment of an interim dividend
for the period ended 30 June 2012.
5. Financial assets
6 months
6 months to to Year ended
30 Jun 2012 30 Jun 2011 31 Dec 2011
GBP'000 GBP'000 GBP'000
--------------------------------------- ------------ ------------ ------------
Cost at 1 January 1,435 - -
Purchases of investments 820 1,963 2,669
Proceeds from sale of investments (200) - (1,263)
(Loss)/gain on disposal of investments (330) (96) 29
--------------------------------------- ------------ ------------ ------------
Cost of investments at period end 1,725 1,867 1,435
Market value adjustment (641) - (856)
--------------------------------------- ------------ ------------ ------------
Net book value at period end 1,084 1,867 579
--------------------------------------- ------------ ------------ ------------
6. Share capital
30 Jun 2012 30 Jun 2011 31 Dec
2011
No'000 No'000 No'000
----------------------------- ------------ ------------ --------
Issued and fully paid:
Ordinary shares of GBP0.004 81,789 57,471 63,873
GBP'000 GBP'000 GBP'000
Issued and fully paid:
Ordinary shares of GBP0.004 327 230 255
----------------------------- ------------ ------------ --------
327 230 255
----------------------------- ------------ ------------ --------
On 30 April 2012, 500,000 shares were issued at 4p per share as
the result settlement of fees for services rendered by the newly
appointed Director, Manoli Yannaghas.
On 16 May 2012, 12,500,000 shares were issued at 4p per share in
respect of a share subscription by Optiva Securities.
On 18 May 2012, 4,916,667 shares were issued at 6p per share in
respect of funding the acquisition of GBP295,000 of 8% convertible
loan notes in Graphmada Equity (PTE) Limited.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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