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”).

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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.

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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.

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CHANGES TO OUR PRIVACY POLICY

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Early Equity Plc (EEQP)

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Friday 20 January, 2017

Early Equity Plc

Audited Results Year Ending 31 August 2016

20 January 2017

Early Equity Plc

("Early Equity" or "the Company")

AUDITED RESULTS FOR THE YEAR ENDING 31 AUGUST 2016

CHAIRMAN’S STATEMENT

I am pleased to present the financial results for Early Equity Plc for the year ended 31 August 2016. The total comprehensive loss for the year was £110,423 (2015 - £123,814 loss). The loss per share was 0.02p (2015 – 0.03p). The loss before tax of £110,423 (2015 - £123,814 loss) largely reflects the costs of maintaining a public listing and administration costs.

On the 1 December 2015, the Company acquired a 32.14% stake in Yicom Global Sdn. Bhd. ("Yicom”) satisfied by the issue of 100,000,000 new ordinary shares. Yicom is the sole importer and patent holder of a series of healthcare products from various countries and in particular China. Yicom has a Sole Distributorship Agreement with Early Infinity Holdings Sdn. Bhd. a direct sales company holding licences to operate a multi-level marketing business in Malaysia. Yicom started trading in February 2015 and the rate of turnover has increased each month as new distributors have been recruited. Early Infinity Holding Sdn Bhd currently have over 1,000 Agents selling their products in Malaysia and now Taiwan.

On 29 November 2015, the Company completed an equity subscription to raise £607,500 (gross of expenses), through the issue of 135,000,000 new ordinary shares of 0.1 pence each at a placing price of 0.45 pence per new ordinary share. Of the funds raised, £450,000 was utilised in the investment in Yicom Global Sdn Bhd, the remaining funds were used by the Company for additional working capital and to evaluate further potential investments.

On the 23 August 2016, the Company announced that Yicom had released its audited accounts reporting a net profit of Ringitt Malaysia (RM) 850,149 (approximately GBP160,709) and declared a dividend of Ringitt Malaysia RM 136,619 payable to Early Equity. £25,826 (RM 5.29: GBP 1) was received on 29 December 2016.

The Company was pleased to announce the appointment of Tee Lian Hing (Barry) to the board on 27 May 2016.

At year end, the value of our investment portfolio in unquoted equity securities (UK and Malaysia) stood at £540,320 (2015 - £115,320). This figure represents the Company’s acquisition within the period of 32.14% shareholding in Yicom. The Devilfish Poker investment was fully provided against on the basis that current and future performance does not indicate ability for the Company to realise the cost of our investment.

At year end our total investment portfolio stood at £594,436 (2015 - £172,637)

POST-BALANCE SHEET EVENTS

There have been no post balance sheet events.

On behalf of the Board, I would like to take this opportunity to thank shareholders and professional advisers for their continued support of the Company.

Chua Siew Lian - Executive Director

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 31 AUGUST, 2016
2016 2015
GBP GBP
CONTINUING OPERATIONS
TURNOVER 25,723 -
ADMINISTRATIVE EXPENSES  (135,242)  (114,945)
OTHER OPERATING EXPENSES - (8,413)
FINANCE COSTS (904) (456)
(LOSS) BEFORE TAX (110,423)  (123,814)
INCOME TAX - -
(LOSS) FOR THE YEAR £(110,423) £(123,814)
OTHER COMPREHENSIVE INCOME
Reclassification of fair value gain on disposal
of available-for-sale financial assets
- -
TOTAL COMPREHENSIVE LOSS FOR THE YEAR £(110,423) £(123,814)
BASIC AND DILUTED LOSS PER SHARE (PENCE) (0.02) (0.03)

   

CONSOLIDATED STATEMENT OF FINANCIAL POSITION
AS AT 31 AUGUST, 2016
2016 2015
GBP GBP
NON-CURRENT ASSETS
Available-for-sale financial assets 594,436 172,637
CURRENT ASSETS
Trade and other receivables 31,518 6,682
Cash and cash equivalents 96,134 39,499
127,652 46,181
CURRENT LIABILITIES
Trade and other payables (16,298) (10,105)
NET CURRENT (LIABILITIES)/ASSETS 111,354 36,076
NET ASSETS £705,790 £208,713
REPRESENTING:-
Share capital 809,623 674,623
Share premium 683,590 211,090
Fair value reserve 49,031 49,031
Accumulated losses (836,454) (726,031)
SHAREHOLDERS’ FUNDS £705,790 £208,713

This financial information has been extracted from the audited financial statements of the Group for the year ended 31 August 2015. The financial statements are prepared in accordance with the International Financial Reporting Standards (IFRS). A copy of the Company's financial statements for the year ended 31 August 2016 will be posted to shareholders and will be delivered to the Registrar of Companies.

The Directors do not propose to pay a dividend for the year.

The Directors of the Company accept responsibility for this announcement.

--ENDS--

Enquiries:

Early Equity Plc

Tel:  +44 (0)7830 182501

Greg Collier

ISDX CORPORATE ADVISER:   

Alexander David Securities Limited 

David Scott -Corporate Finance  James Dewhurst - Institutional Sales  Telephone: +44 (0) 20 7448 9820  http://www.ad-securities.com 

49 Queen Victoria Street, London EC4N 4SA


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