ETAIREIA INVESTMENTS PLC
("Etaireia" or the "Company")
UNAUDITED RESULTS FOR THE 12 MONTH PERIOD ENDED 31st March 2012
I am pleased to be able to make this report to you as Chairman of the Company.
Financial Overview
There was a loss from continuing operations for the year of £28,534 (2011: £46,417).
Review of Activities
During the financial year no material events, transactions or developments took place.
The losses relate solely to administrative costs incurred whilst the board sought new
investment following the restructuring of the Company in the previous year.
During the period there have been some changes to the Board of Directors. Adam Ward
stepped down from the Board, and Gregory Collier joined the Board as Executive
Director.
Post-Period Events
On the 10th July 2012 the Company announced the completion of a £250,000 fundraise
through the issue of zero coupon convertible loan notes.
Following the successful refinancing of the Company Ms. Priya Shah was appointed to
the Board on 10 July 2012 and Louis Yeromelou resigned on the same day, The refinanced
Etaireia has subsequently been evaluating short term opportunities in other quoted
companies and longer term investment opportunities in the legal sector.
Greg Collier
Executive Director
28 August 2012
STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 MARCH 2012
Year ended Year ended
31.03.12 31.03.11
CONTINUING OPERATIONS
Administrative expenses (28,534) (37,217)
_________ _________
LOSS FROM OPERATIONS (28,534) (37,217)
Finance costs - -
_________ _________
LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX (28,534) (37,217)
Income tax - -
_________ _________
ATTRIBUTABLE TO EQUITY HOLDERS (28,534) (37,217)
_________ _________
Earnings/Loss per share:
Basic and diluted earnings/loss per share from total operations (0.03)p (0.04)p
_________ _________
BALANCE SHEET
AS AT 31 MARCH 2012
Year ended Year ended
31.03.12 31.03.11
£ £
Current assets
Trade and other receivables 4,820 4,218
Cash and cash equivalents 2 24
_______ _______
4,822 4,242
Current liabilities
Trade and other payables (54,695) (25,581)
________ ________
Net current (liabilities)/assets (49,873) (21,339)
________ ________
NET (LIABILITIES)/ASSETS (49,873) (21,339)
________ ________
Equity
Issued share capital 217,036 217,036
Share premium account 448,491 448,491
Accumulated losses (715,400) (686,866)
________ ________
SHAREHOLDERS' (LIABILITIES)/FUNDS (49,873) (21,339)
________ ________
Notes to the financial information
1. The calculation of loss per share is based on the weighted average number of shares of
85,166,666 in issue during the period.
2. 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. The full financial statements
of the company for the year will be posted to shareholders as soon as is practicable. The
comparative figures for 2011 have been adjusted to exclude the results of the Company's sole
subsidiary for the period prior to the appointment of a liquidator in August 2010. Since
then the Company has operated as a single entity.
3. The financial information in this announcement has not been audited or reviewed by the
Company's auditors.
4. The Directors have not declared a dividend for the period.
ETAIREIA INVESTMENTS PLC
Registered No. 06138814
The Directors of Etaireia Investments plc accept responsibility for this announcement.
--ENDS--
Enquiries:
Etaireia Investments Plc
Greg Collier
Tel: 07830182501
Peterhouse Corporate Finance Ltd
Eran Zucker/Fungai Ndoro
Tel: 0207 469 0934