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ZimNRG plc (ZIMO)

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Friday 30 July, 2010

ZimNRG plc

Annual Financial Report for year to 28 February...



                                                ZimNRG PLC

                         Preliminary results for the year ended 28th February 2010

The  Directors  present  their  report and the financial statements of  the  company  for  the  year  ended
28 February 2010.

PRINCIPAL ACTIVITIES AND BUSINESS REVIEW
The principal activity of the company during the year was that of investment holding company.

Your  Directors  continue to explore possible investments in the mining and energy  sectors,  primarily  in
Zimbabwe  and  also  in the surrounding South African Development Community countries.   We  have  examined
several  projects including resources of base minerals, gold and natural gas and are pursuing a  number  of
interesting opportunities in respect of which detailed geological studies are being undertaken.

Although  the  investment  environment has improved there are still a number of challenging  issues  facing
potential  investors  in  Zimbabwe,  particularly with regard to the indigenisation  proposals  and  energy
constraints.

RESULTS AND DIVIDENDS
The loss for the year amounted to £112,167. The Directors have not recommended a dividend.

FINANCIAL INSTRUMENTS
Details of the company's financial risk management objectives and policies are included in note 13  to  the
accounts.

THE DIRECTORS AND THEIR INTERESTS IN THE SHARES OF THE COMPANY
The directors who served the company during the year together with their beneficial interests in the shares
of the company were as follows:

                                                                            Ordinary Shares of £0.005 each
                                                                                 At                     At
                                                                   28 February 2010           1 March 2009

J.C.W. De Thierry                                                         1,700,000              1,400,000
C.P. Latilla-Campbell                                                     2,780,793              2,239,761
A.F. Mason                                                                2,040,226              2,235,307
                                                                ====================  ======================

SUBSTANTIAL INTERESTS

At  the  date  of  the report the Company had been notified that, other than directors, the following  were
interested in 3% or more of the issued share capital of the Company:

                                                           No. Ordinary              %
                                                                 Shares
Somers Investments Limited                                   14,250,000           31.95
Credit Suisse Client Nominees (UK) Limited                    7,500,000           16.81
Loeb Aron & Co. Limited                                       1,500,000            3.36

Somers  Investments  Limited is controlled by a discretionary trust, of which C.P.  Latilla-Campbell  is  a
potential beneficiary.

RESPONSIBILITIES OF THE DIRECTORS
The  Directors  are  responsible  for  preparing the Directors' Report  and  the  financial  statements  in
accordance with applicable law and regulations.

Company law requires the Directors to prepare financial statements for each financial year. Under that  law
the  Directors have elected to prepare the financial statements in accordance with United Kingdom Generally
Accepted  Accounting Practice (United Kingdom Accounting Standards and applicable law). Under  company  law
the Directors must not approve the financial statements unless they are satisfied that they give a true and
fair  view of the state of affairs of the company and of the profit or loss of the company for that period.
In preparing those financial statements, the Directors are required to:

*    select suitable accounting policies and then apply them consistently;

*    make judgements and estimates that are reasonable and prudent;

*    state  whether  applicable  UK  Accounting  Standards have been  followed,  subject  to  any  material
     departures disclosed and explained in the financial statements;

*    prepare the financial statements on the going concern basis unless it is inappropriate to presume that
     the company will continue in business.

The  Directors  are  responsible for keeping adequate accounting records that are sufficient  to  show  and
explain the company's transactions and disclose with reasonable accuracy at any time the financial position
of  the company and enable them to ensure that the financial statements comply with the Companies Act 2006.
They  are also responsible for safeguarding the assets of the company and hence for taking reasonable steps
for the prevention and detection of fraud and other irregularities.

In so far as the Directors are aware:

*    there is no relevant audit information of which the company's auditor is unaware; and

*    the  Directors  have  taken all steps that they ought to have taken to make themselves  aware  of  any
     relevant audit information and to establish that the auditor is aware of that information.

AUDITOR
Edwards Veeder (Oldham) LLP are deemed to be re-appointed under section 487(2) of the Companies Act 2006.

Registered office:                                     Signed by order of the Directors
The Old Hop Kiln
1 Long Garden Walk
Farnham
Surrey
GU9 7HX

                                                       C.P. LATILLA-CAMPBELL
                                                       Company Secretary

Approved by the Directors on .29th July 2010.......................

                                         PROFIT AND LOSS ACCOUNT
                                                                        2010                           2009
                                                         Note              £                              £
TURNOVER                                                                   -                              -

Administrative expenses                                              112,403                         (6,821)
Other operating income                                                  (185)                       (20,000)
                                                              --------------                  --------------
OPERATING (LOSS)/PROFIT                                     1       (112,218)                        26,821

Loss on disposal of current asset investments                         (1,098)                             -
                                                              --------------                  --------------
                                                                    (113,316)                        26,821

Interest receivable                                                    1,149                          9,059
Amounts written off investments                             4              -                       (100,000)
Interest payable and similar charges                        5              -                           (120)

                                                              --------------                  --------------

LOSS ON ORDINARY ACTIVITIES BEFORE TAXATION                         (112,167)                       (64,240)

Tax on loss on ordinary activities                          6              -                          1,895

                                                              --------------                  --------------
LOSS FOR THE FINANCIAL YEAR                                         (112,167)                       (66,135)

Balance brought forward                                             (288,088)                      (221,953)
                                                              --------------                  --------------
Balance carried forward                                             (400,255)                      (288,088)
                                                              ==============                  ==============

Earnings per share (pence)

Basic                                                       7         (0.26)                          (0.16)
                                                              ==============                  ==============

Diluted                                                     7         (0.24)                          (0.14)

All of the activities of the company are classed as continuing.

The company has no recognised gains or losses other than the results for the year as set out above.

                                              BALANCE SHEET

                                                        2010                           2009
                                          Note             £             £                £              £

FIXED ASSETS
Investments                                  8                           -                               -

CURRENT ASSETS
Debtors                                      9        11,717                          8,034           
Investments                                 10       100,641                              -  
Cash at bank                                         375,282                        568,187         
                                               --------------                  --------------
                                                     487,640                        576,221         

CREDITORS: Amounts falling due within one             
year                                        11        46,535                         51,105
                                               --------------                  --------------  

NET CURRENT ASSETS                                                441,105                         525,116
                                                              --------------                  --------------
TOTAL ASSETS LESS CURRENT LIABILITIES                             441,105                         525,116
                                                              ==============                  ==============
CAPITAL AND RESERVES
Called-up equity share capital              15                    223,039                         216,000
Share premium account                       16                    618,321                         597,204
Profit and loss account                                          (400,255)                       (288,088)
                                                              --------------                  --------------
SHAREHOLDERS' FUNDS                         17                    441,105                         525,116
                                                              ==============                  ==============

These  financial statements were approved by the Directors and authorised for issue on .29July  2010.,  and
are signed on their behalf by:

........................
A.F. MASON

Company Registration Number: 05714562
The Directors of the Company accept responsibility for the content of this announcement.
Contact:    Christopher Latilla-Campbell, ZimNRG plc 01403 738 555
Adviser:    Peter Freeman, Loeb Aron & Co. Ltd. 020 7628 1128

ZimNRG plc