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DJ Etaireia Plc: Interim Results For The 6 Months Ended 30 September 2016

 
TIDMETIP 
 
 
   29 December 2016 
 
   ETAIREIA INVESTMENTS PLC 
 
   ("Etaireia" or the "Company") 
 
   Interim Results for the 6 months ended 30 September 2016 
 
   CHAIRMAN'S STATEMENT 
 
   FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2016 
 
   I am pleased to present the interim results for Etaireia Investments PLC 
for the six months ended 30(th) September 2016. 
 
   Financial Overview 
 
   There was a loss from continuing operations for the year of GBP77,648 
(2015: GBP81,459). 
 
   The Group's net assets at the end of the period were GBP2,465,764 (2015: 
GBP2,237,269) 
 
   Review of Activities 
 
   On 17 August 2016 the Company announced a further acquisition of a 
property at 5-6 High Street, Cleator Moor, Cumbria, CA25 5AH, recently 
valued by at GBP182,000. The issue of new shares primarily financed the 
purchase. The board are still negotiating with potential operators for 
the public house business and also exploring other options for the site. 
 
   During the period the Company has raised a further GBP35,000 by way of 
subscription of new ordinary shares and settled a total of GBP14,000 
debt by issue of new ordinary shares. 
 
   On 17 August 2016 the Company announced that Jim Kirkwood and Phil 
McGinlay were stepping down from their respective board roles on the 31 
August 2016, to pursue other interests. 
 
   On the 13 September 2016 the Company announced the appointment of Ian 
Fallmann as Non-executive Director to work alongside myself. Ian is an 
active investor in the property markets and we are confident that in 
addition to raising further capital to conclude deals, we will attract 
investors willing to sell their property assets to us for consideration 
in shares. The focus continues to work towards income generation from 
our existing assets, conscious that the Company remains cash 
constrained. 
 
   We are constantly exploring further acquisitions and expect to be making 
further announcements in this respect in the near future. 
 
   There have been no other material events, transactions or developments 
during the period. 
 
   Post Balance Sheet Events 
 
   There have been no other material events, transactions or developments 
during the post balance sheet period. 
 
   Baron Bloom 
 
   Chairman 
 
   29 December 2016 
 
   CONSOLIDATED INCOME STATEMENT 
 
 
 
 
                                                Period       Period 
                                               01/04/2016   01/04/2015 
                                                   To           To 
                                               30/09/2016   30/09/2015 
Revenue                                             1,400            - 
 
Cost of sales                                           -            - 
 
Gross Profit                                        1,400            - 
 
Administrative expenses                          (79,048)     (81,459) 
 
Loss before tax                                  (77,648)     (81,459) 
 
Taxation                                                -            - 
 
Loss for the period                              (77,648)     (81,459) 
 
Basic and diluted loss per share (note 1)      (0.000042)    (0.00635) 
 
 
   BALANCE SHEET 
 
 
 
 
                                  30/09/2016     30/09/2015 
 
  Fixed Assets 
Freehold land & Property           2,630,780      2,288,988 
 
  Current Assets 
 
Trade and Other receivables           15,905         37,989 
 
Prepayments                            3,500          3,250 
 
Bank and cash                            776         80,239 
                                   2,650,961      2,410,466 
 
 
Current Liabilities 
 
Trade and other payables           (185,197)      (173,198) 
 
 
Net Current Assets                 2,465,764      2,237,269 
 
 
 
Equity 
 
Issued share capital                 387,251        332,661 
 
Share premium                      2,893,288      2,432,463 
 
  Other reserve                            -         23,080 
 
  Share option reserve               101,233      101,233 
 
Reserve acquisition                  609,092      673,096 
 
Profit and loss                  (1,525,100)  (1,325,264) 
                                   2,465,764    2,237,269 
 
 
 
   Notes to the financial information 
 
   1. The calculation of loss per share is based on the loss on ordinary 
activities after taxation and the number of shares of 1,828,505,510 in 
issue at the end the period.  Due to the loss incurred in the period 
under review, the dilutive securities have no effect as at 30 September 
2016. 
 
   2. While the financial information included in this announcement has 
been computed in accordance with International Financial Reporting 
Standards (IFRS), this announcement does not itself contain sufficient 
information to comply with IFRS. 
 
   3. The financial information has not been audited or reviewed by the 
auditors, or extracted from audited information.  This financial 
statement does not constitute statutory accounts within the meaning of 
Section 435 of the Companies Act 2006 (the "Act"). 
 
   4. The Directors have not declared a dividend for the period. 
 
   5. This statement was approved by the Board of Directors on 22nd 
December 2016.  Copies of this statement will be available free of 
charge from the Company's Registered Office at 2(nd) Floor, Cambridge 
House, Cambridge Road, Harlow Mill, Essex, CM20 2EQ. 
 
   The Directors of the Company accept responsibility for the content of 
this announcement. 
 
   --ENDS- 
 
   Enquiries: 
 
   Etaireia Investments Plc 
 
   Tel:  +44 (0)79 1756 5565 
 
   Baron Bloom, Chairman 
 
   ISDX Corporate  Adviser 
 
   Alexander David Securities Limited 
 
   David Scott - Corporate Finance 
 
   James Dewhurst - Institutional Sales 
 
   Telephone: +44 (0) 20 7448 9820 
 
   http://www.ad-securities.com 49 Queen Victoria Street, London EC4N 4SA 
 
   This announcement is distributed by Nasdaq Corporate Solutions on behalf 
of Nasdaq Corporate Solutions clients. 
 
   The issuer of this announcement warrants that they are solely 
responsible for the content, accuracy and originality of the information 
contained therein. 
 
   Source: Etaireia Plc via Globenewswire 
 
 
  http://www.etaireia.net/ 
 

(END) Dow Jones Newswires

December 29, 2016 07:05 ET (12:05 GMT)