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DJ Lombard Capital PLC Final Results

 
TIDMLCAP 
 
LOMBARD CAPITAL PLC 
 
                         ("Lombard" or the "Company") 
 
                                 Final Results 
 
I am pleased to report the unaudited final results for the Company for the 
twelve month period ended 31 March 2015. 
 
Director's Statement 
 
During the year under review the Board has continued to review investment 
opportunities in both quoted and unquoted companies, but has been constrained 
by the unfavourable market conditions for securing additional funding that 
affect the small cap sector. 
 
The net assets of the Company at 31 March 2015 were GBP278,326, representing a 
NAV of 14.5p per share (2014: 14.3), a marginal increase on last year. The 
increase is predominantly due to the increased valuation of its shareholding in 
Prego International Limited ("Prego"), whose shares are now traded on a matched 
bargain basis on J P Jenkins. This has been partly offset by the Board's 
decision to reduce the value of the Company's shareholding in Elevate Platform 
Limited ("Elevate") to cost, in the absence of any current information to 
support last year's valuation of the stake. 
 
As at the 31 March 2015, the Company held equity in the following companies: 
 
  * BWA Group plc, an investment company quoted on ISDX.  Our shareholding 
    represents 6.7% of BWA's equity; 
  * Prego International Limited, a company whose unlisted shares are traded on 
    JP Jenkins, whose business is the marketing of Master- and Visa- cards 
    principally to migrant workers employed in overseas territories; and 
  * Elevate Platform Limited, an unquoted online recruitment business. Our 
    shareholding represents 2.8% of Elevate's equity. 
 
The Directors are committed to keeping costs to a minimum and building 
shareholders value. Over the period the administrative expenses of the Company 
declined by 5% from GBP84,232 for the year ended 31 March 2014 to GBP80,133 in the 
year to 31 March 2015. 
 
The Board remains active in seeking a way to create value for shareholders and 
is exploring various strategies to move the Company forward.. 
 
Charlotte Argyle 
 
Executive Director 
 
28 August 2015 
 
INCOME STATEMENT FOR YEAR ENDED 31 MARCH 2015 
 
                                                              2015         2014 
 
                                                                 GBP            GBP 
 
Continuing operations: 
 
Loss on disposal of investments                                  -     (44,127) 
 
Investment income                                              211       24,168 
 
Operating expenses                                        (80,344)     (84,232) 
 
Operating loss and loss before taxation                   (80,133)    (104,191) 
 
Taxation expense                                                 -            - 
 
Loss for the year, attributable to owners of the Company  (80,133)    (104,191) 
 
Loss per share attributable to owners of the Company         Pence        Pence 
during the year 
 
Basic and diluted: 
 
Total and continuing operations                              (4.2)       *(5.4) 
 
*The comparative earnings per share has been adjusted to reflect the 1 for 100 
share consolidation in December 2014. 
 
STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2015 
 
                                                              2015        2014 
 
                                                                 GBP           GBP 
 
NON CURRENT ASSETS 
 
Available for sale investments                             235,000     150,000 
 
CURRENT ASSETS 
 
Trade and other receivables                                    220           - 
 
Cash and cash equivalents                                   57,036     152,421 
 
                                                            57,256     152,421 
 
TOTAL ASSETS                                               292,256     302,421 
 
EQUITY 
 
Share capital                                              191,815     191,815 
 
Share premium                                              755,614     755,614 
 
Investment revaluation reserve                             151,986      66,986 
 
Retained earnings                                        (821,089)   (740,956) 
 
Equity attributable to owners of the Company and 
total equity                                               278,326     273,459 
 
CURRENT LIABILITIES 
 
Trade and other payables                                    13,930      28,962 
 
TOTAL EQUITY AND LIABILITIES                               292,256     302,421 
 
If it becomes known to the Directors of the Company that the audit report is to 
be qualified or modified in relation to going concern or otherwise, the terms 
of such qualification or modification will be announced immediately. 
 
The financial information contained in this statement has not been audited or 
reviewed by the Company's auditors. 
 
The Directors do not propose a dividend for the period reported. 
 
The Directors of Lombard are responsible for the contents of this announcement. 
 
=-ENDS-- 
 
ENQUIRIES: 
 
LOMBARD CAPITAL PLC 
Russell Darvill 
020 7580 7576 
 
PETERHOUSE CORPORATE FINANCE LIMITED 
Mark Anwyl and Fungai Ndoro 
020 7469 0930 
 
 
 
END 
 

(END) Dow Jones Newswires

August 28, 2015 10:17 ET (14:17 GMT)