Interim Results
23 12월 2003 - 10:35PM
UK Regulatory
RNS Number:6133T
RII PLC
23 December 2003
RII Plc
Interim Statement
for the six months ended 30 September 2003
For the six month period ended 30 September 2003, your Company sustained a
pre-tax loss of #5,579 (2002 - loss #11,974). Overheads continue to be incurred
on a minimal basis, and cash balances at 30 September 2003 amounted to #172,436
(2002 - #220,606).
At the Annual General Meeting of the Company held on 17 October 2003, Kamran
Amin did not offer himself for re-election as a Director, and accordingly has
retired from the Board. At the conclusion of that meeting, Robert Stubbs and
Clive Maguire were appointed Executive Director and Non-executive Director
respectively, and Farhad Moshiri (Non-executive Director) retired.
The name of the Company was changed to RII plc on 21 October 2003.
The new Board hopes that it will be in a position to place suitable proposals to
shareholders for the development of the Company in the near future.
Robert Stubbs
Executive Director
23 December 2003
RII plc
Unaudited profit and loss account
for the six months ended 30 September 2003
Six months Six months
ended ended Year ended
30 Sept 2003 30 Sept 2002 31 March
2003
# # #
Turnover - - -
Net operating expenses (7,651) (15,199) (78,905)
Operating Loss (7,651) (15,199) (78,905)
Interest receivable 2,072 3,255 5,927
Interest payable - (30) (30)
Loss on ordinary activities (5,579) (11,974) (73,008)
before taxation
Tax on loss on ordinary - - -
activities
Loss on ordinary activities (5,579) (11,974) (73,008)
after taxation
Basic loss per share (0.008)p (0.018)p (0.11)p
RII plc
Unaudited balance sheet at 30 September 2003
30 Sept 30 Sept 2002 31 March
2003 2003
# # #
Current assets
Debtors 4,650 17,266 394
Cash at Bank 172,436 220,606 208,141
177,086 237,872 208,535
Creditors: Amounts falling due (9,028) (3,200) (34,897)
within one year
Net current assets 168,058 234,672 173,638
NET ASSETS 168,058 234,672 173,638
CAPITAL AND RESERVES
Called up share capital 65,939 65,939 65,939
Share premium account 1,896,685 1,896,685 1,896,685
Profit and loss account (1,794,566) (1,727,952) (1,788,986)
TOTAL EQUITY SHAREHOLDERS' FUNDS 168,058 234,672 173,638
RII plc
Notes to the interim financial information
30 September 30 September 2002 31 March
2003 2003
# # #
Debtors
Other debtors 171 17,266 -
Prepayments 4,479 - 394
4,650 17,266 394
Creditors
Other creditors 2,802 - 28,845
Accruals 6,226 3,200 6,052
9,028 3,200 34,897
Notes
i) The interim financial information for the six months ended 30
September 2003 includes only the results of RII plc. The unaudited results for
the period have been prepared on the basis of the accounting policies adopted in
the audited accounts for the year ended 31 March 2003.
ii) The unaudited profit and loss account for each of the six month
periods and the unaudited balance sheet as at 30 September 2003 do not amount to
full accounts within the meaning of Section 240 of the Companies Act 1985 and
have not been delivered to the Registrar of Companies. The Interim Report is
unaudited and does not constitute Statutory Accounts.
iii) The results for the year ended 31 March 2003 have been extracted
from the statutory accounts of the Company for that year which have been filed
with the Registrar of Companies. The auditors' report on these accounts was
unqualified and did not contain any statement under Section 237 of the Companies
Act 1985.
iv) No dividend is proposed to be paid in respect of the period (2002-
Nil).
v) The calculation of loss per share is based on the loss after taxation
for the period of #5,579 (2002-loss #11,974) and on 65,938,530 (2002-65,938,530)
ordinary shares, being the average number of ordinary shares in issue during the
period.
vi) The Company has received a Writ claiming approximately #48,750 plus
interest and costs in respect of an alleged agreement for the provision of
services. The Company, which is being legally advised, has served a Defence to
the Writ, and has been advised that, in the event of the claim being successful,
it may have recourse against a third party. In view of the uncertainty
surrounding this matter, no provision has been made in these interim accounts.
vii) Copies of the Interim Statement are available from the Company's
Registered Office at 56 Queen Anne Street, London W1G 8LA.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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