Interim Results

9999 plc 28 September 2005 9999 Plc INTERIM RESULTS FOR THE PERIOD ENDED 30 JUNE 2005 CHAIRMAN'S STATEMENT When the Company was admitted to AIM in March of this year its stated strategy was to seek investments in specific areas of the financial services sector, namely: • financial trading entities using technical and fundamental principles to trade in the equity markets, currencies and equity future markets in the UK and US; • stockbrokers, either quoted or unquoted; and • certain sectors within the independent financial advisory arena. Since coming to the market the Board has been, and is continuing to seek and identify investments in the sectors noted above The Company's cash balances at 30 June 2005, after settling the costs of the placing and admission to AIM, were £219,472. The Company's very low level of overhead expenditure means that cash levels have not reduced significantly since that date. The Directors have placed the Company's free cash balances on interest bearing deposit account with its bankers pending identification of an appropriate investment opportunity. I look forward to updating you further on our progress. Dr MS Kalairajah Executive Chairman 28 September 2005 Profit and Loss Account for the period ended 30 June 2005 (Unaudited) Period ending Notes 30 June 2005 £ Administrative expenses (10,537) Loss on ordinary activities before interest (10,537) Interest receivable 1,109 Loss on ordinary activities after taxation (9,428) Tax on ordinary activities - Loss on ordinary activities after taxation (9,428) Dividends - Retained loss for the period (9,428) Loss per share: Basic 2 (0.021) pence Fully diluted 2 (0.018) pence The period ended 30 June 2005 was the Company's first period of trading and hence no comparative amounts are presented. Balance Sheet for the period to 30 June 2005 (Unaudited) 30 June 2005 Note £ Current assets Cash at bank and in hand 219,472 219,472 Creditors: amounts falling due within one year (3,265) Net current assets 216,207 Total assets less current liabilities 216,207 Creditors: amounts falling due after more than one year - Net assets 216,207 Capital and reserves Share capital 3 112,500 Share premium account 113,135 Profit and loss account (9,428) Shareholders' funds - equity 216,207 The period ended 30 June 2005 was the Company's first period of trading and hence no comparative amounts are presented. Statement of Cash flows for the period ended 30 June 2005 (Unaudited) Period ending Notes 30 June 2005 £ Net cash outflow from operating activities 4 (7,272) Returns on investments and servicing of finance Interest received 1,109 Net cash flow before financing (6,163) Financing Issue of ordinary share capital 300,000 Costs of issue of share capital (74,365) Increase in cash 219,472 Reconciliation of net cash flow to movement in net debt Increase/(Decrease) in cash in the period 219,472 Net funds at incorporation - Net funds at 30 June 5 219,472 The period ended 30 June 2005 was the Company's first period of trading and hence no comparative amounts are presented. NOTES: 1. Basis of preparation The interim financial report for the period from incorporation on 8 March 2005 to 30 June 2005 was approved by the Board of 9999 Plc ('the Company') on 28 September 2005. The interim financial report has not been audited and does not constitute statutory financial statements for the purposes of section 240 of the Companies Act 1985. The interim financial report has been prepared using accounting policies consistent with those used in preparing the non-statutory financial information on the Company included in the Company's AIM admission document dated 29 March 2005. The Company has not previously been required to prepare or file audited statutory financial statements. The financial information in respect of the period ended 30 June 2005 has been derived from the unaudited management information for the Company in relation to the period then ended. The Company's first statutory accounting period for which audited financial statements will be prepared will be the year ending 31 March 2006. 2. Loss per share Basic loss per share is calculated on the basis of the net loss attributable to ordinary shareholders divided by the weighted average number of shares in issue during the period ended 30 June 2005 of 45,000,000. Diluted loss per share represents basic loss per share after allowing for the dilutive effect of the conversion into ordinary shares of the weighted average number of options outstanding during the period. The total number of shares in issue used to calculate the diluted earnings per share in the period ended 30 June 2005 was 51,000,000. 3. Share capital 30 June 2005 £ Authorised 400,000,000 ordinary shares of 0.25p each 1,000,000 Allotted, called up and fully paid 45,000,000 ordinary shares of 0.25p each 112,500 The Company was incorporated on 8 March 2005 with an authorised share capital of £1,000,000 divided into 1,000,000,000 ordinary shares of 0.1 pence each, of which 2 were issued fully paid to subscribers. Subsequently, on 10 March 2005, an additional 3 ordinary shares of 0.1 pence each were issued. On 10 March 2005 resolutions were passed consolidating the Company's share capital into £1,000,000 divided into 400,000,000 Ordinary shares of 0.25 pence each, authorising the directors to allot relevant securities, dis-apply pre-emption rights and authorising the directors to grant options. Subsequently, on 10 March 2005, the Company issued 19,999,998 new ordinary shares fully paid to subscribers at 0.25 pence per share. 0n 31 March 2005, a further 25,000,000 new ordinary shares of 0.25 pence per share were issued at the placing price of 1 pence per share. At that date there were 45,000,000 ordinary shares of 0.25 pence in issue, all fully paid. At 30 June 2005 the Company had issued options to subscribe for 5,000,000 ordinary shares to the executive directors of the Company and a further 1,000,000 ordinary shares to the non-executive director of the Company, all at 1 pence per share. The options issued to the executive directors are exercisable at any time up to five years from the date of admission to AIM provided that the Company has successfully completed its first investment transaction within 12 months of admission. The non-executive options are exercisable at any time up to five years from the date of admission to AIM. 4. Net Cash Outflow from Operating Activities 30 June 2005 £ Operating loss (10,537) Increase in Creditors 3,265 (7,272) 5. Analysis of Net Debt At At 30 June incorporation 2005 Cash flow £ £ £ Cash at bank and in hand - 219,472 219,472 Bank overdrafts - - - - 219,472 219,472 6. A copy of this interim financial report is being sent to all shareholders and further copies are available from the Company's Registered Office at the address below: 9999 Plc, Third Floor, 3 College Approach, Greenwich, London SE10 9HY. This information is provided by RNS The company news service from the London Stock Exchange
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