Clerkenwell Ventures PLC - Unaudited Preliminary Results

5 February 2010

Unaudited Preliminary Results for the year ended 30 September 2009

Clerkenwell Ventures PLC ("Clerkenwell Ventures" or "the Company") announces its preliminary results for the year ended 30 September 2009.

Highlights:

·      Net cash as at 30 September 2009 of £3.1 million (2008: £29.9 million)

·      Loss before taxation for the year ended 30 September 2009 of £0.4m (2008: profit of  £0.7m)

Enquiries

Clerkenwell Ventures PLC

David Page, Non-executive Chairman                                       Telephone:   07836 346934

Seymour Pierce Limited                                                                Telephone:   020 7107 8000

Nicola Marrin

Clerkenwell Ventures PLC

Unaudited Preliminary Results

for the year ended 30 September 2009

Chairman's Statement

It gives me pleasure to report the preliminary results of Clerkenwell Ventures for the year ended 30 September 2009.

Investment strategy

We have continued to evaluate a number of businesses.

Results

Loss after taxation for the year ended 30 September 2009 was £346,000 (2008: profit of £414,000). As at 30 September 2009, Clerkenwell Ventures' net cash balances amounted to £3.1 million (2008: £29.9 million).

Corporate activity

In March 2009, the Company returned £26.79 million to shareholders by way of a bonus issue and capital reduction.

David Page

Non-executive Chairman

5 February 2010

Clerkenwell Ventures PLC

Unaudited Income Statement

for the year ended 30 September 2009

Clerkenwell Ventures PLC

Unaudited Balance Sheet

as at 30 September 2009

Clerkenwell Ventures PLC

Unaudited Cash Flow Statement

for the year ended 30 September 2009

Clerkenwell Ventures

Unaudited Statement of Changes in Shareholders' Equity

for the year ended 30 September 2009

Clerkenwell Ventures PLC

Notes to the Unaudited Preliminary Results

for the year ended 30 September 2009

1.             General information

Clerkenwell Ventures PLC is a company incorporated in the United Kingdom under the Companies Act 1985. The address of the registered office is 1 Park Row, Leeds, LS1 5AB, United Kingdom. Copies of this Preliminary Statement may be obtained from the above address or the investor section of the Company's website at http://www.clerkenwellventures.com.

2.             Basis of preparation

The unaudited preliminary results for the year ended 30 September 2009 has been prepared under the recognition and measurement principles of International Financial Reporting Standards as adopted by the EU ("IFRS") based on the accounting policies consistent with those used in the financial statements for the year ended 30 September 2009.

The preliminary results for the year ended 30 September 2009 do not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. Statutory accounts for the year ended 30 September 2008 were prepared under IFRS and have been delivered to the Registrar of Companies. The audit report on these statutory accounts was unqualified and did not contain a statement either under section 237(2) or 237(3) of the Companies Act 1985.

The financial information for the year ended 30 September 2008 has been extracted from the statutory accounts for the Group for the period.

The preliminary announcement is presented in Pounds Sterling because that is the currency of the primary economic environment in which the group operates. All values are rounded to the nearest thousand Pounds (£'000) except when otherwise indicated.

3.             Taxation

4.             Earnings per share

The Company returned £26.79 million to shareholders by way of a bonus issue of 272 B Shares per ordinary share of 5p each and a capital reduction which cancelled the B Shares and reduced the nominal value of each ordinary share from 5 pence to 0.1 pence each. On 9 March 2009, every 10 ordinary share of 0.1 pence each in the Company was consolidated into 1 new ordinary share of 1 pence each in the Company. The weighted average number of shares in issue for the year ended 30 September 2008 above has therefore been restated assuming that the consolidation had taken place.

5.             Notes to the  cash flow statement

Reconciliation of net cash flow from operating activities