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DJ Interim Results For The Six Months Ended 30 September 2017

 
TIDMETIP 
 
   ETAIREIA INVESTMENTS PLC 
 
   ("Etaireia" or the "Company") 
 
   Interim results for the six months ended 30th September 2017 
 
 
 
   CHAIRMAN'S STATEMENT 
 
   FOR THE SIX MONTHS ENDED 30th SEPTEMBER 2017 
 
   I am pleased to present the interim results for Etaireia Investments PLC 
for the six months ended 30(th) September 2017. 
 
   Financial Overview 
 
   There was a loss from continuing operations for the year of GBP91,316 
(2016: GBP77,648). 
 
   The Group's net assets at the end of the period were GBP1,880,607 (2016: 
GBP2,465,764) 
 
   Review of Activities 
 
   On the 3(rd) May 2017, the Company announced the exchange of contracts 
for the acquisition of two modern office buildings at Whitehouse Office 
Park, Peterlee, County Durham.. 
 
   During the period, the Company raised a further GBP3,000 by way of 
subscription of new ordinary shares. 
 
   There have been no other material events, transactions or developments 
during 
 
   the period. 
 
   Post Balance Sheet Events 
 
   On the 7(th) November 2017, the Company announced the completion of the 
two office buildings at Whitehouse Office Park, Peterlee. The purchase 
price of GBP1,125,000 was satisfied by the issue of  600,000,000 new 
ordinary shares of 0.01p each, at a price of 0.1p per  new ordinary 
share and GBP525,000 cash consideration. The cash consideration has been 
deferred for 12 months. The office buildings represent a combined area 
of approximately 58,000 sq.ft. of space and the ground floor of 2A 
representing approximately 14,500 sq ft is currently occupied by NHS who 
have recently signed a new 6 year lease (expires 31/03/2023) producing a 
rental income of GBP65,979  p.a. The remaining approximate 43,500 sq ft 
of office space is currently being marketed at a similar pro rata rental 
level that has already created interest and the Company is optimistic 
that the remaining vacant space will be let in the near future. Until 
the deferred cash payment is paid, the Company has agreed to assign 75% 
of the rental income to the vendors that will be directly offset against 
the deferred sum. 
 
   On the 24(th) November 2017, the Company announced that it had issued a 
total of 46,388,889 shares in settlement of a loan to the Company and an 
outstanding debt totalling GBP41,750. 
 
   There have been no other material events, transactions or developments 
during 
 
   the post balance sheet period. 
 
   We are constantly exploring further acquisitions and expect to be making 
further announcements in this respect in the near future. 
 
   Baron Bloom 
 
   Chairman 
 
   7th December 2017 
 
   CONSOLIDATED INCOME STATEMENT 
 
 
 
 
                                                             Period 
                                        Period 01/04/2017   01/04/2016 
                                                To              To 
                                            30/09/2017      30/09/2016 
Revenue                                             1,350        1,400 
 
Cost of sales                                           -            - 
 
Gross Profit                                        1,350        1,400 
 
Administrative expenses                          (92,666)     (79,048) 
 
Loss before tax                                  (91,316)     (77,648) 
 
Taxation                                                -            - 
 
Loss for the period                              (91,316)     (77,648) 
 
Basic and diluted loss per share (note 
 1)                                            (0.000050)   (0.000042) 
 
 
   BALANCE SHEET 
 
 
 
 
                                  30/09/2017   30/09/2016 
 
  Fixed Assets 
Freehold land & property           1,292,780    2,630,780 
Investments                          972,000            - 
                                   2,264,780    2,630,780 
 
  Current Assets 
 
Trade and other receivables           16,577       15,905 
 
Prepayments                            4,250        3,500 
 
Bank and cash                         40,771          776 
                                   2,326,378    2,650,961 
 
Current Liabilities 
 
Trade and other payables           (292,600)    (185,197) 
 
 
Net Current Assets                 2,033,778    2,465,764 
 
Long term creditors                (153,171)            - 
                                   1,880,607    2,465,764 
 
Equity 
 
Issued share capital                 391,192      387,251 
 
Share premium                      2,927,343    2,893,288 
 
  Share option reserve               116,187      101,233 
 
Reserve acquisition                        -      609,092 
 
Profit and loss                  (1,554,115)  (1,525,100) 
                                   1,880,607    2,465,764 
 
 
 
 
   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 
1,867,949,955 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 2017. 
 
   3.      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. 
 
   4.        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"). 
 
   5.         The Directors have not declared a dividend for the period. 
 
   6.        This statement was approved by the Board of Directors on 7(th) 
December 2017.  Copies of this statement will be available free of 
charge from the Company's Registered Office at The Barn, Tednambury Farm, 
Tednambury, Spellbrook, Herts, CM23 4BD 
 
   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 
 
   NEX 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 07, 2017 05:50 ET (10:50 GMT)