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DJ Lombard Capital PLC Half-year Report

 
TIDMLCAP 
 
LOMBARD CAPITAL PLC 
("Lombard" or the "Company") 
 
UNAUDITED INTERIM RESULTS FOR THE SIX MONTHS ENDED 30 SEPTEMBER 2017 
 
CHAIRMAN'S STATEMENT 
 
Dear shareholder 
 
Your current board of directors was formed with my appointment on 15th January 
2016. At the same time, I was appointed Chairman. 
 
My report for the 6 months unaudited figures to 30 September 2017 shows a 
comprehensive loss of GBP180,518. This loss is attributable to the overhead 
costs incurred during the period. 
 
During the period your directors have continued to issue unsecured convertible 
loan notes and warrants to raise funds to cover overheads and for selected 
investment purposes. 
 
Your directors have continued to progress towards our target of issuing an 
investment bond that is secured by reinsurance. The project is currently making 
significant progress towards issuance and listing on a recognised bond market. 
I hope to make an announcement in the immediate future. 
 
I look forward to the future with enthusiasm and thank all my colleagues and 
our professionals for their support and advice. 
 
I also thank you all as shareholders for your continuing support. 
 
David Grierson. 
Chairman 
Lombard Capital Plc. 
12 December 2017 
 
The directors of Lombard Capital Plc accept responsibility for this 
announcement. 
 
For further information please contact: 
 
Brent Fitzpatrick 
Tel:  07718 883813 
 
NEX Exchange Corporate Adviser: 
Alfred Henry Corporate Finance Limited 
Nick Michaels:  020 7251 3762 
 
Condensed Statement of Comprehensive Income 
Six months ended 30 September 2017 
 
                                             6 Months       Year       6 Months 
 
                                            30/09/2017   31/03/2017   30/09/2016 
 
                                                GBP            GBP            GBP 
 
Continuing operations 
 
Investment income                                    -            -            - 
 
Operating expenses                           (180,518)    (190,440)     (76,174) 
 
Impairment of investments                          -            -            - 
 
Operating loss and loss before taxation      (180,518)    (190,440)     (76,174) 
 
Taxation                                           -            -            - 
 
Loss for the period, attributable to the     (180,518)    (190,440)     (76,174) 
owners 
 
Impairment of investments -                        -            -            - 
reclassification to income statement 
 
Market value adjustment to investments             -            -            - 
 
Total comprehensive loss for the period      (180,518)    (190,440)     (76,174) 
 
Loss per share, basic and fully diluted          (5.4)        (7.1)        (3.3) 
(in pence) 
 
Condensed Statement of Financial Position 
As at 30 September 2017 
 
 
 
                                              30/09/2017     31/03/2017     30/09/2016 
 
                                               Unaudited        Audited      Unaudited 
 
                                                       GBP              GBP              GBP 
 
Non-current assets 
 
Available for sale investments                   112,500        112,500        135,810 
 
Current assets 
 
Trade and other receivables                        7,800          7,800          7,500 
 
Cash and cash equivalents                         59,758            622          7,137 
 
                                                  67,558          8,422         14,637 
 
Total assets                                     180,058        120,922        150,447 
 
Equity 
 
Ordinary shares                                    3,401          3,326          2,726 
 
Deferred shares                                  189,897        189,897        189,897 
 
Share premium                                    873,528        866,103        812,793 
 
Share option reserve                              13,160         13,160         26,320 
 
Investment revaluation reserve                   100,184        100,184        100,184 
 
Retained earnings                            (1,359,329)    (1,178,811)    (1,064,545) 
 
                                               (179,159)        (6,141)         67,375 
 
Current liabilities 
 
Trade and other payables                         359,217        127,063         83,072 
 
Total equity and liabilities                     180,058        120,922        150,447 
 
Notes to the financial statements 
Six months ended 30 September 2017 
 
 
1. Basis of preparation 
 
 
The financial statements for the six months ended 30 September 2017 are 
unaudited and do not constitute statutory accounts as defined in Section 434 of 
Companies Act 2006. The financial information for the year ended 31 March 2017 
is extracted from the audited statutory accounts for the year then ended which 
have been delivered to the Registrar of Companies. The audit report on those 
accounts was unqualified and did not contain a statement under Section 498(2) 
or (3) of Companies Act 2006. 
 
The financial information for the six months ended 30 September 2017 has been 
prepared on the basis of the accounting policies set out in the full annual 
financial statements of the company for the year ended 31 March 2017. 
 
2. Earnings per share 
 
 
The basic and diluted earnings per share is calculated by dividing the loss 
attributable to the owners of the company by the weighted average number of 
ordinary shares in issue during the period. 
 
The weighted average number of shares in issue at 30 September 2017 was 
3,363,014 (31 March 2017 2,682,971). 
 
3. Investments                             30/09/2017    31/03/2017   30/09/2016 
 
                                            Unaudited       Audited    Unaudited 
 
                                                    GBP             GBP            GBP 
 
Investments at cost less impairment           112,500       112,500       35,626 
 
Impairments: Reclassified from reserves             0             0            0 
 
                                                    0             0            0 
Recognised in the year 
 
Market value adjustment                             0             0      100,184 
 
Market value at period end                    112,500       112,500      135,810 
 
 
 
 
END 
 

(END) Dow Jones Newswires

December 13, 2017 06:52 ET (11:52 GMT)