JUSH Justice Hldgs

TIDMJUSH

RNS Number : 7093Y

Justice Holdings Limited

05 March 2012

JUSTICE HOLDINGS LIMITED

Symbol: JUSH 5 March 2012

Report for the period commenced 7 February 2011 and ended 31 December 2011

Justice Holdings Limited ("Justice" or the "Company") today publishes its Report for the period commenced 7 February 2011 and ended 31 December 2011.

Justice was admitted to the London Stock Exchange (the "Admission") on 17 February 2011, raising gross proceeds of GBP900.0 million in its initial public offering ("IPO"). As set out in the Justice Holdings Limited Prospectus dated 14 February 2011 (the "Prospectus"), the Company was formed with the strategy of acquiring a target business which is expected to have an enterprise value of between GBP1.0 billion and GBP7.0 billion, though a target business with a smaller or larger enterprise value may be considered. The Company's efforts in identifying a prospective target business are not limited to a particular industry or geographic region. The Board of Directors (the "Board") continues to implement the Company strategy. As of the date of this Report, no acquisition has been made. A copy of the Prospectus has been submitted to the National Storage Mechanism and is available for viewing at: www.hemscott.com/nsm.do.

Financial Position

On 17 February 2011, Justice raised gross proceeds of GBP900.0 million and, as of 31 December 2011, has 90,057,000 ordinary shares in issue.

Total expenses incurred by the Company in connection with the Admission were GBP19.0 million, which was GBP2.0 million below the estimate disclosed in the Prospectus of GBP21.0 million.

As at 31 December 2011, the Company had cash and short-term securities balances of GBP881.7 million, and net assets attributable to ordinary shareholders of GBP881.8 million. The net proceeds from the IPO, which are easily accessible when required, have been invested in instruments available from the Sterling denominated money markets and/or are being held at commercial banks that are at least AA rated or better at the time of deposit. As of 31 December 2011, approximately GBP868.8 million was held in UK government-backed investments meeting the terms of the Sterling denominated money markets as described in the Prospectus. The Company anticipates that it will continue to hold the bulk of its assets in UK government-backed investments until an acquisition is consummated.

Period ended

(in GBP'000) 31 December 2011

Administration costs (44,688)

Costs associated with Admission (19,003)

OPERATING LOSS (63,691)

Finance income 3,293

LOSS FOR THE PERIOD (60,398)

Basic and diluted loss per share (pence) 67.07

Adjusted loss per share (pence) 45.97

Priority Return Sum per share (pence) 978

Administration costs include a non-cash charge of GBP41.6 million.

The adjusted loss used in the adjusted loss per share does not include the costs associated with the Admission. The Priority Return Sum per share has been calculated with reference to the expected minimum value per share that ordinary shareholders are entitled to on a winding up of the Company as set out in the Prospectus.

A copy of the Report for Justice for the period commencing 7 February to 31 December 2011 has been uploaded to the National Storage Mechanism and will shortly be available for inspection at www.hemscott.com/nsm.do.

Enquiries:

International Administration (Guernsey) Limited

Company Secretary

Attn: Mark Woodall

Tel: +44 1481 723450

This information is provided by RNS

The company news service from the London Stock Exchange

END

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