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”).


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.


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.


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.


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.


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.


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.


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.


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.


If you want more information or have any questions or comments relating to our privacy policy please email [email protected] in the first instance.

 Information  X 
Enter a valid email address

In-Solve plc (INSP)

  Print      Mail a friend

Thursday 28 April, 2011

In-Solve plc

Final Results

                                 In-Solve Plc                                  

                         ("In-Solve" or the "Company")                         

               FINAL RESULTS FOR THE YEAR ENDED 30 NOVEMBER 2010               


I am pleased to present my review of the Company for the year ending 30
November 2010.

As reported in last year's financial statements the Directors carried out a
review of the Company's activities during the second half of 2009 and they
subsequently decided to change the Company's investment strategy to one that is
a generalist one with no specific sector, national or regional focus. In tandem
with this change in strategy the Company resolved to change its name to
In-Solve Plc.

It is now the Board's intention that the Company be either an active investor
and acquire control of a single company or it may be a passive investor and
acquire non-controlling shareholdings or other assets or businesses where it is
deemed to be in the best interest of the company. The Company currently has
investments in two businesses.

Wilton Petroleum Limited

The investment in Wilton, which represents 6.55% of Wilton's equity, was
acquired in 2008 and was substantially provided for in the Company's annual
accounts for that year. Wilton is an unquoted hydrocarbon exploration company,
whose main asset is an interest in an exploration block in the north-west part
of mainland Madagascar, designated as the Maravoay Block 2102. In July 2010
Ophir Energy Plc entered into an agreement with Wilton to acquire an 80%
interest in Block 2102 and Operatorship of a Production Sharing Contract. The
Directors consider this agreement to be a positive move for Wilton and one
which will increase the value of the Company's interest in Wilton. We await
news from Ophir on whether it plans to drill this block with extreme interest.

Metroelectric plc

In the final quarter of 2009 the Company was involved in the financing of the
acquisition of the Powabyke business, a well established supplier of electric
powered bicycles to the UK market, by Powabyke Acquisition Limited, which was
subsequently acquired by Metroelectric, a PLUS quoted company, Following the
acquisition the Company was issued with 12,500,000 shares in Metroelectric,
representing 3.38% of its equity and in addition the Company invested £70,000
in a new 12% Convertible Loan Note issued by Metroelectric in March 2010.

In August 2010, the Company was notified that Worship Street Investments Ltd
("WSI"), the PLUS quoted Investment Company, exercised 800,000 warrants at
1.672p per warrant injecting £13,376 into the Company. WSI now holds 18.92%
share capital of the Company. The Directors feel WSI's further investment in
the Company is a reflection of the growing confidence in the Company and its
revised strategy.

Whilst the company steps up its efforts to implement its new business model, it
has continued to keep its costs to a minimum and all its overheads including
directors fees have been kept as low as possible. This tight control of costs
has resulted in lower administrative costs and contributed to the profit of £
45,979, compared to a loss of £69,698 in 2009. As at 30 November 2010, the cash
balance of the Company was £336 (£109,410 as at 30 November 2009). Subsequent
to this date, the Company has continued to receive income principally from the
interest payable via the 12% Metroelectric Convertible Loan Note.

R Darvill



                                               2009                      2010            
                                                 £                         £            
Turnover                                     100,000                         -
Administrative expenses                      -58,716                   -71,934
                                             ───────                   ───────
Operating profit/(loss)                       41,284                   -71,934
Investment income                             7,100                         - 
Other interest receivable                       437                     2,236 
and similar income                                                            
Interest payable and                          -2,842                        - 
similar charges                                                               
                                             ───────                   ───────
Profit/(loss) on ordinary                     45,979                   -69,698
activities before taxation                                                    
Tax on ordinary activities                        -                         - 
                                             ───────                   ───────
Profit/(loss) for the year                    45,979                   -69,698
                                             ═══════                   ═══════
Earnings per share                                                            
expressed in pence per                                                        
Basic and fully diluted                         0.55                     -0.94
profit/(loss) per share                                                       
                                             ═══════                   ═══════


                                   2010                           2009            
                              £               £              £              £      
Fixed assets                                                                   
Investments                               210,589                       34,028 
Current assets                                                                 
Debtors                     1,287                          1,090               
Cash at bank and in           336                        109,410               
                           ───────                        ───────              
                            1,623                        110,500               
Creditors: amounts         -13,585                         -7,095              
falling due within                                                             
one year                                                                       
                           ───────                        ───────              
Net current                                -11,962                     103,405 
                                           ───────                      ───────
Total assets less                         198,627                      137,433 
current liabilities                                                            
                                           ═══════                      ═══════
Capital and                                                                    
Called up share                            89,259                       80,159 
Share premium                           1,030,553                    1,024,438 
Profit and loss                           -921,185                     -967,164
                                           ───────                      ───────
Shareholders' funds                       198,627                      137,433 
                                           ═══════                      ═══════


1     Turnover                                                                 
      Turnover relates to other revenue received as a result of a cancellation 
      fee from an investment.                                                  


Emphasis of matter - going concern

In forming our opinion on the financial statements, which is not qualified, we
have considered the adequacy of the disclosures made in note 1 to the financial
statements concerning the company's ability to continue as a going concern. The
ability of the company to continue to trade is dependent on the company being
able to raise sufficient funds. Based upon the current economic climate there
exists a material uncertainty which may cast significant doubt as to whether
the company will be able to generate sufficient funds and therefore the
company's ability to continue as a going concern. The financial statements do
not include the adjustments that would be necessary if the company was unable
to continue as a going concern.

The Directors do not proposed to pay a dividend for the period.

The financial information contained in this announcement has been extracted
from the Company's audited accounts.

The directors of the issuer accept responsibility of this announcement.



Jonathan Bradley-Hoare   Tel: +44 20 7467 1700

Eran Zucker              Tel: +44 20 7562 3373
[email protected]


a d v e r t i s e m e n t