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

Vema N.V. (VEMD)

  Print      Mail a friend

Monday 29 October, 2001

Vema N.V.

Interim Results

Vema N.V.
29 October 2001

                                  VEMA N.V.


Chairman's Statement

This is my first report since Vema N.V. was admitted to trading on AIM on 17
May 2001 and covers the unaudited six months of trading to 30 April 2001 which
primarily relates to Vema B.V. before the assets were transferred to Vema N.V.
on 4 April 2001. The results for the six months ended 31 October 2000, which
were included in the Vema N.V. prospectus, related to Vema B.V. Our first full
report for Vema N.V. will be for the period ended 30 April 2002.

The half-year to 30 April 2001 has shown an increase in turnover compared to
the previous six months of trading and the results show an increase in profit
before tax to NLG 1,587,000 (six months to 31 October 2000: NLG 836,000).

Indications for the first half of our current financial year are encouraging
with turnover ahead of the corresponding period last year. As stated in the
prospectus, the company will consider expansion through acquisitions, as well
as expanding its product range and geographical markets. Your Board looks
confidently to the future.

Maurice Dwek


Pro -forma consolidated profit and loss account

For the six months ended 30 April 2001

                                     6 months ended        6 months ended o

                            Notes     30 April 2001         31 October 2000
                                        Unaudited              Unaudited
                                         NLG 000                NLG 000
Turnover                                          9,784                   9,463

Cost of sales                                   (5,439)                 (5,721)

Gross margin                                      4,345                   3,742

Administrative expenses                         (2,693)                 (2,841)

Profit before interest                            1,652                     901

Interest                                           (65)                    (65)

Profit before tax                                 1,587                     836

Taxation                                          (466)                   (375)

Profit after taxation                             1,121                     461

Dividend                        3               (1,469)                       -

Retained profit for period                        (348)                     461

Pro -forma consolidated balance sheets

As at 30 April 2001
                                                     Vema N.V.     Vema B.V.
                                                      30 April     31 October
                                                        2001          2000
                                                     Unaudited     Unaudited
                                                      NLG 000       NLG 000
Intangible assets                                         16,247             55
Tangible fixed assets                                      1,231          1,343
                                                          17,478          1,398
Stock                                                      2,501          2,587
Debtors                                                    3,179          3,944
Cash at bank and in hand                                      46            226
                                                           5,726          6,757
Creditors: amounts falling due within one year           (2,196)        (2,965)
NET CURRENT ASSETS                                         3,530          3,792

TOTAL ASSETS LESS CURRENT LIABILITIES                     21,008          5,190

CREDITORS:amounts falling due after more than one          (775)          (800)

Provisions for liabilities and charges                     (248)          (249)
NET ASSETS                                                19,985          4,141

Share capital                                                  -            100
Called up share capital 'A' shares                         3,238              -
Share premium 'A' shares                                   6,698              -
Called up share capital 'B' shares                             -              -
Share premium 'B' shares                                   9,936              -
Profit and loss reserves                                     113          4,041
Shareholders' funds                                       19,985          4,141

Vema N.V.

Notes to financial statements 30 April 2001

 1. Basis of pro-forma accounts

    The business assets and liabilities of Vema B.V. were transferred to it's
    wholly owned subsidiary on 4 April 2001 pursuant to a deed of
    contribution. The pro-forma consolidated profit and loss account for the 6
    months to 30 April 2001 therefore represents the aggregation of the
    unaudited results of Vema B.V. and it's subsidiaries for the period from 1
    November 2000 to 3 April 2001 and the unaudited results of Vema N.V. and
    its subsidiaries from 4 April 2001 to 30 April 2001.

    The balance sheet at 30 April 2001 reflects the consolidation of Vema N.V.
    and it's subsidiaries. The comparative figures at 31 October 2000 are for
    Vema B.V. and it's subsidiaries.

    The unaudited results for the six months ended 31 October 2000 have been
    prepared on a basis with the accounting policies disclosed in Vema B.V.'s
    accounts for the year ended 30 April 2000. No provision for the
    amortisation of goodwill has been made in the accounts for the period as
    the amount would not be material, the goodwill having been created on 4
    April 2001.

 2. Post balance sheet events

    Since 30 April 2001, Vema N.V. commenced trading on the Alternative
    Investment Market on the London Stock Exchange, and a further 72,000,000
    Global Depository Receipts of EUR0.02 nominal value issued by means of a
    Placing and Offer for Subscription at an issue price of 4p.

 3. Dividend

        As stated in the prospectus at the date of the Placing and Offer for
        Subscription for shares, the profits arising in Vema B.V. in the
        period prior to the date of transfer under the deed of contribution
        were accrued as dividends payable.


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