Financial Express (Holdings) Limited (“we”, “our”, “us” and derivatives) are committed to protecting and respecting your privacy. This Privacy Policy, together with our Terms of Use, sets out the basis on which any personal data that we collect from you, or that you provide to us, will be processed by us relating to your use of any of the below websites (“sites”).

  • FEAnalytics.com
  • FEInvest.net
  • FETransmission.com
  • Investegate.co.uk
  • Trustnet.hk
  • Trustnetoffshore.com
  • Trustnetmiddleeast.com

For the purposes of the Data Protection Act 1998, the data controller is Trustnet Limited of 2nd Floor, Golden House, 30 Great Pulteney Street, London, W1F 9NN. Our nominated representative for the purpose of this Act is Kirsty Witter.

WHAT INFORMATION DO WE COLLECT ABOUT YOU?

We collect information about you when you register with us or use any of our websites / services. Part of the registration process may include entering personal details & details of your investments.

We may collect information about your computer, including where available your operating system, browser version, domain name and IP address and details of the website that you came from, in order to improve this site.

You confirm that all information you supply is accurate.

COOKIES

In order to provide personalised services to and analyse site traffic, we may use a cookie file which is stored on your browser or the hard drive of your computer. Some of the cookies we use are essential for the sites to operate and may be used to deliver you different content, depending on the type of investor you are.

You can block cookies by activating the setting on your browser which allows you to refuse the setting of all or some cookies. However, if you use your browser settings to block all cookies (including essential cookies) you may not be able to access all or part of our sites. Unless you have adjusted your browser setting so that it will refuse cookies, our system will issue cookies as soon as you visit our sites.

HOW WE USE INFORMATION

We store and use information you provide as follows:

  • to present content effectively;
  • to provide you with information, products or services that you request from us or which may interest you, tailored to your specific interests, where you have consented to be contacted for such purposes;
  • to carry out our obligations arising from any contracts between you and us;
  • to enable you to participate in interactive features of our service, when you choose to do so;
  • to notify you about changes to our service;
  • to improve our content by tracking group information that describes the habits, usage, patterns and demographics of our customers.

We may also send you emails to provide information and keep you up to date with developments on our sites. It is our policy to have instructions on how to unsubscribe so that you will not receive any future e-mails. You can change your e-mail address at any time.

In order to provide support on the usage of our tools, our support team need access to all information provided in relation to the tool.

We will not disclose your name, email address or postal address or any data that could identify you to any third party without first receiving your permission.

However, you agree that we may disclose to any regulatory authority to which we are subject and to any investment exchange on which we may deal or to its related clearing house (or to investigators, inspectors or agents appointed by them), or to any person empowered to require such information by or under any legal enactment, any information they may request or require relating to you, or if relevant, any of your clients.

You agree that we may pass on information obtained under Money Laundering legislation as we consider necessary to comply with reporting requirements under such legislation.

ACCESS TO YOUR INFORMATION AND CORRECTION

We want to ensure that the personal information we hold about you is accurate and up to date. You may ask us to correct or remove information that is inaccurate.

You have the right under data protection legislation to access information held about you. If you wish to receive a copy of any personal information we hold, please write to us at 3rd Floor, Hollywood House, Church Street East, Woking, GU21 6HJ. Any access request may be subject to a fee of £10 to meet our costs in providing you with details of the information we hold about you.

WHERE WE STORE YOUR PERSONAL DATA

The data that we collect from you may be transferred to, and stored at, a destination outside the European Economic Area (“EEA”). It may be processed by staff operating outside the EEA who work for us or for one of our suppliers. Such staff may be engaged in, amongst other things, the provision of support services. By submitting your personal data, you agree to this transfer, storing and processing. We will take all steps reasonably necessary, including the use of encryption, to ensure that your data is treated securely and in accordance with this privacy policy.

Unfortunately, the transmission of information via the internet is not completely secure. Although we will do our best to protect your personal data, we cannot guarantee the security of your data transmitted to our sites; any transmission is at your own risk. You will not hold us responsible for any breach of security unless we have been negligent or in wilful default.

CHANGES TO OUR PRIVACY POLICY

Any changes we make to our privacy policy in the future will be posted on this page and, where appropriate, notified to you by e-mail.

OTHER WEBSITES

Our sites contain links to other websites. If you follow a link to any of these websites, please note that these websites have their own privacy policies and that we do not accept any responsibility or liability for these policies. Please check these policies before you submit any personal data to these websites.

CONTACT

If you want more information or have any questions or comments relating to our privacy policy please email publishing@financialexpress.net in the first instance.

 Information  X 
Enter a valid email address

Penmc PLC (PNC)

  Print      Mail a friend

Monday 21 May, 2007

Penmc PLC

Interim Results

Penmc PLC
21 May 2007

PenMc plc

21 May 2007



Interim Results Statement

for the half year ended 28 February 2007



Chairman's statement



The activities in the first half of the current financial year have once again
been concentrated on the resolution of prior year disposal issues. Progress has
been achieved in this regard and positive cash flow from prior year disposals of
£25,000 has resulted. However, the receipt of the contingent asset of £290,000
relating to the disposal of Benson McGarvey in October 2003 remains ongoing
although progress has been made and the Directors are hopeful that this matter
will be resolved in the near future.



At the Annual General Meeting of the Company held on 27 March 2007, it was
announced that the Investment Strategy of the Company had not been fulfilled
and, accordingly, the shares will continue to be suspended for 6 months as of 2
April 2007 and in the event that the strategy is still unfulfilled, the
Company's listing on AIM will be cancelled on 3 October 2007.



Your board is continuing the process of reviewing investment opportunities and
will communicate with shareholders at the appropriate time.













Laurie Turnbull

Non-Executive Chairman




Consolidated profit and loss account

for the half year ended 28 February 2007


                                                          Unaudited       Unaudited       Audited
                                                                                             Year
                                                          Half Year       Half Year            to
                                                                 to              to     31 August
                                                        28 February     28 February          2006
                                                               2007            2006
                                                               £000            £000          £000
TURNOVER                                                          -              25            25

                                                           --------       ---------     ---------
OPERATING LOSS                                                 (12)             (7)          (30)

Exceptional item - profit on disposal of
discontinued operations                                         -                 -            56
Net interest payable                                            -                 -             -
                                                            -------        --------     ---------
(LOSS)/PROFIT ON ORDINARY ACTIVITIES BEFORE TAXATION           (12)             (7)            26
 - after exceptional items                                     (12)             (7)            26
Exceptional items
- profit on disposal of discontinued operations                -                  -          (56)

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION AND
EXCEPTIONAL ITEMS                                              (12)             (7)          (30)
                                                           ========       =========      ========
Tax on (loss)/profit on ordinary activities                       -               -             -
                                                            -------        --------      --------
(LOSS)/PROFIT ON ORDINARY ACTIVITIES AFTER TAXATION            (12)             (7)            26
                                                           ========        ========      ========
(Loss)/earnings per share:
Basic                                                       (0.01p)         (0.01p)         0.03p
Basic excluding exceptional items                           (0.01p)         (0.01p)       (0.03p)
                                                           ========        ========     =========

All of the Group's turnover and operating loss in the period relate to
discontinued activities.



There is no difference between the loss on ordinary activities before taxation
and the loss sustained for the half year ended 28 February 2007 and their
historical cost equivalents.



The Group has no recognised gains or losses other than those included in the
results above.


Consolidated Balance Sheet

as at 28 February 2007


                                                        Unaudited        Unaudited       Audited
                                                                                           as at
                                                            as at            as at
                                                      28 February                      31 August
                                                             2007      28 February          2006
                                                                              2006
                                                             £000             £000          £000
CURRENT ASSETS
Debtors                                                        14                -            42
Cash at bank and in hand                                       27               34            19
                                                        ---------         --------     ---------
                                                               41               34            61
CREDITORS: Amounts falling due within one year               (50)             (64)          (58)
                                                        ---------        ---------     ---------
NET (LIABILITIES)/ASSETS                                      (9)             (30)             3
                                                       ==========       ==========    ==========
CAPITAL AND RESERVES
Called-up share capital                                       981              981           981
Share premium account                                      20,113           20,113        20,113
Profit and loss account                                  (21,103)         (21,124)      (21,091)
                                                       ----------       ----------    ----------
(DEFICIENCY IN)/SURPLUS OF EQUITY SHAREHOLDERS'
FUNDS                                                         (9)             (30)             3
                                                       ==========       ==========    ==========





Consolidated cash flow statement

for the half year ended 28 February 2007


                                                         Unaudited       Unaudited         Audited
                                                                                              Year
                                                         Half Year       Half Year              to
                                                                to              to       31 August
                                                       28 February     28 February            2006
                                                              2007            2006
                                                              £000            £000            £000
NET CASH OUTFLOW FROM OPERATING ACTIVITIES                    (17)             (9)            (43)
Returns on investments and servicing of finance                  -               -               -
Taxation repaid/(paid)                                           -               -               -
Capital expenditure and financial investment                     -               -               -
Acquisitions and disposals                                      25               -              19
                                                        ----------      ----------       ---------
INCREASE/(DECREASE) IN CASH                                      8             (9)            (24)
                                                        ==========      ==========       =========



Reconciliation of movements in group equity shareholders' funds
for the half year ended 28 February 2007

                                                         Unaudited       Unaudited       Audited
                                                                                            Year
                                                         Half Year       Half Year            to
                                                                to              to     31 August
                                                       28 February     28 February          2006
                                                              2007            2006
                                                              £000            £000          £000
(Loss)/profit for the period                                  (12)             (7)            26
                                                         ---------      ----------     ---------
Net (reduction)/increase in equity shareholders'
funds                                                         (12)             (7)            26
Opening surplus of/(deficiency in) equity
shareholders' funds                                              3            (23)          (23)
                                                         ---------       ---------     ---------
Closing (deficiency in)/surplus of equity
shareholders' funds                                            (9)            (30)             3
                                                         =========      ==========     =========




Notes to financial statements



1.    (LOSS)/EARNINGS PER SHARE



The calculations of (loss)/earnings per share are based on the following losses
or profits and numbers of shares:


                                                          Unaudited     Unaudited       Audited
                                                                                           Year
                                                          Half Year     Half Year            to
                                                                 to            to     31 August
                                                        28 February   28 February          2006
                                                               2007          2006
                                                               £000          £000          £000
(Loss)/profit on ordinary activities after taxation            (12)           (7)            26
Exceptional items                                                                             -

- profit on disposal of discontinued operations                -                -          (56)
                                                          ---------     ---------     ---------
Loss before exceptional items                                  (12)           (7)          (30)
                                                          =========     =========     =========

                                                             Number        Number        Number
                                                          of shares     of shares     of shares
                                                                000           000           000
Weighted average number of shares:
For basic (loss)/earnings per share                          98,147        98,147        98,147
                                                          ---------     ---------     ---------
For diluted (loss)/earnings per share                        98,147        98,147        98,147
                                                          =========     =========     =========
Basic                                                       (0.01p)       (0.01p)         0.03p
Basic excluding exceptional items                           (0.01p)       (0.01p)       (0.03p)
Diluted                                                     (0.01p)       (0.01p)         0.03p
                                                          =========     =========     =========



The directors have presented an alternative earnings per share figure to give a
better indication of the long term results of the business. FRS14 requires
presentation of diluted earnings per share when a company could be called upon
to issue shares that would decrease net profit or increase net loss per share.
Since it seems inappropriate to assume that option and warrant holders would act
irrationally, no adjustment has been made to diluted (loss)/earnings per share
for out-of-the-money share options and warrants. As there is no potential
dilution, the basic and diluted (loss)/earnings per share figures are the same.

2.    RECONCILIATION OF OPERATING LOSS TO OPERATING CASH FLOWS

                                                          Unaudited     Unaudited       Audited
                                                                                           Year
                                                          Half Year     Half Year            to
                                                                 to            to     31 August
                                                        28 February   28 February          2006
                                                               2007          2006
                                                               £000          £000          £000
Operating loss                                                 (12)           (7)          (30)
Decrease in debtors                                             3               9             4
Decrease in creditors                                           (8)          (11)          (17)
                                                          ---------     ---------     ---------
NET CASH OUTFLOW FROM OPERATING ACTIVITIES                     (17)           (9)          (43)
                                                           ========      ========     =========

3.    ANALYSIS OF CASH FLOWS

                                                          Unaudited     Unaudited       Audited
                                                                                           Year
                                                          Half Year     Half Year            to
                                                                 to            to     31 August
                                                        28 February   28 February          2006
                                                               2007          2006
                                                               £000          £000          £000
Returns on investments and servicing of finance
Interest received                                                 -             2             7
Interest paid                                                     -           (2)           (7)
                                                          ---------     ---------     ---------
NET CASH OUTFLOW                                                  -             -             -
                                                          =========     =========     =========
Taxation
UK corporation tax repaid/(paid)                                  -             -             -
                                                          =========     =========     =========
Capital expenditure and financial investment
Sale of tangible fixed assets                                     -             -             -
                                                          ---------     ---------     ---------
NET CASH INFLOW                                                   -             -             -
                                                          =========      ========      ========
Acquisitions and disposals
Disposal of subsidiary undertakings                              25             -            19
                                                          =========     =========     =========



4.    ANALYSIS AND RECONCILIATION OF NET FUNDS

                                                       At 1 September                       At 28
                                                                 2006                    February
                                                                          Cash flow          2007
                                                                 £000          £000          £000
Cash in hand, at bank                                              19             8            27
                                                             --------      --------     ---------
Net funds                                                          19             8            27
                                                             ========      ========      ========



                                                           Unaudited     Unaudited       Audited
                                                                                            Year
                                                           Half Year     Half Year            to
                                                                  to            to     31 August
                                                         28 February   28 February          2006
                                                                2007          2006
                                                                £000          £000          £000
Increase/(decrease) in cash in the period                          8           (9)          (24)
                                                            --------      --------      --------
Change in net debt resulting from cash flows                       8           (9)          (24)
                                                            --------      --------      --------
Movement in net debt in period                                     8           (9)          (24)
Net funds at start of period                                      19            43            43
                                                            --------      --------      --------
Net funds at end of period                                        27            34            19
                                                            ========     =========      ========



5.                BASIS OF PREPARATION



The financial information included in this interim statement for the half year
ended 28 February 2007 does not constitute statutory accounts within the meaning
of section 240 of the Companies Act 1985 and is neither audited nor reviewed.
The financial information has been prepared on the basis of accounting policies
consistent with those set out in the statutory financial statements for the year
ended 31 August 2006, which have been filed with the Registrar of Companies and
on which the auditors gave an unqualified opinion.



6.


The Interim Statement was approved by the Board on 21 May 2007.


7.


Copies of this announcement are available to members of the general public from
the company's Registered Office at Barton Hall, Hardy Street, Eccles,
Manchester, M30 7NB.


                      This information is provided by RNS
            The company news service from the London Stock Exchange