31 January 2013
GB0033877555
BWA Group Plc
("BWA" or the "Company")
Interim Results for the Six Months ended 31 October 2012
Dear Shareholder,
Your Board today announces the Company's unaudited interim results for the half year to 31 October 2012.
These show a loss before tax of GBP18,107.
Provision has been made to write down one of our investments, Webb Capital plc. The directors of Webb
Capital plc chose to de-list the company after the end of the period and your Board hereby record its
considerable disappointment with this company's course of action.
The Board continues to pursue the strategy of seeking an acquisition which meets the Company's investment
criteria, namely, an established business, making, or close to making profits and capable of cash
generation. In common with other companies similar to ourselves this is proving to be a slow, time
consuming task and we have rejected a number of opportunities which have presented themselves.
We are pleased that the ISDX Growth Market, formerly the PLUS-SX market on which BWA is listed, has
benefited from its acquisition by ICAP Plc and hope that this market can re-establish itself with
investors.
In December 2012, shareholders in BWA received free shares in Prego International Limited ("Prego"), a
Guernsey incorporated company with the same directors as BWA. At that time, Prego informed BWA shareholders
that it had commenced negotiations with a view to acquiring a company of such a size and stature as would
be capable of admission to the AIM market. The Directors of BWA are pleased to report that BWA has been
mandated to provide consultancy services Prego in respect of this acquisition and its proposed admission to
the AIM market. If Prego's transaction is successful, BWA will receive fees in respect of its consultancy
services and BWA and its shareholders, through their respective equity interests in Prego, may also benefit
from any increase in Prego's market value.
Your Board remains committed to generating value for the Company's shareholders.
Richard Battersby
Chairman
BWA GROUP PLC
PROFIT AND LOSS ACCOUNT
Six months ended
31 October 2012 Year ended
Unaudited 30 April 2012
GBP Audited
GBP
Turnover - -
Administrative expenses (14,797) (77,796)
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Operating loss (14,797) (77,796)
Loss on investments (3,220) (11,260)
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(18,017) (89,056)
Finance charges (net) - -
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Loss on ordinary activities before and after
taxation and retained for the period (18,017) (89,056)
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Earnings per ordinary share - basic (pence) (0.017) (0.084)
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Earnings per ordinary share -diluted (pence) (0.017) (0.084)
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All amounts relate to continuing activities.
BWA GROUP PLC
BALANCE SHEET
At 31 October At 30 April
2012 2012
Unaudited Audited
GBP GBP
Fixed Assets
Available-for-sale Investments 252,201 278,344
Current assets
Debtors and prepayments 30,890 34,597
Cash at bank and in hand 6,400 1,669
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37,290 36,266
Creditors: amounts falling due within one year (49,950) (68,616)
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Net current liabilities (12,660) (32,350)
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Total assets less current liabilities 239,541 245,994
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Capital and reserves
Called up share capital 560,499 539,494
Share premium 12,519 6,217
Capital redemption reserve 288,625 288,625
Available-for-sale revaluation reserve (52,743) (43,850)
Profit and loss account (569,359) (544,492)
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Shareholders' funds 239,541 245,994
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The Directors of BWA Group Plc are responsible for the contents of this announcement.
For further information please contact:
BWA Group Plc
Richard Battersby (Non-Executive Chairman) 07836 238172
St Helens Capital Partners LLP
Mark Anwyl or Duncan Vasey 020 7469 0930