Change of accounting date

Starvest PLC
14 July 2006



RNS Announcement:  Friday 14 July 2006

Starvest PLC

Change of accounting reference date

The Board has decided to change the accounting reference date from 31 July to 30
September for the coming year end and following years.

The immediate purpose is to facilitate the presentation of a clean balance sheet
at the next accounting year end and so more easily attain a position in which
either the Company can pay a maiden dividend or engage in a programme of share
buy-backs for which the Members' approval was sought and granted at the last
Annual General Meeting on 11 October 2005.

At an Extraordinary General Meeting of Members held on 14 March 2006,
resolutions were passed to endorse the Board's recommendation that a Petition be
submitted to the High Court to have the Company's share premium account reduced
to eliminate the deficiency then standing on the profit and loss account.  This
process is in hand, albeit unlikely to be concluded immediately.

On 19 June 2006 at an Extraordinary General Meeting of the Company's former
operating subsidiary, The Web Shareshop Limited, a liquidator was appointed to
conduct a Members' voluntary liquidation at the conclusion of which there will
no longer be a requirement for the Company to prepare group financial
statements.  This process is expected to be concluded within three months of the
Liquidator having been appointed.

Consequential changes

Following from the change in accounting date the Board's current expected
timetable is:

  • 1 August 2006:                  Net asset value update at 31 July 2006

  • 2 October 2006:                 Net asset value update at 30 September 2006

  • End October 2006:               Announcement of results for the 14 months to 
                                    30 September 2006

  • Mid November 2006:              Publication of Directors' report and issue 
                                    of AGM notice

  • Mid December 2006:              Net asset value update and Annual General 
                                    Meeting

  • 3 January 2007:                 Chairman's quarterly update as at 
                                    31 December 2006





Enquiries to:

  • John Watkins, telephone [phone], or to [e-mail]

  • Tony Scutt, telephone [phone], or to [e-mail]



END






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