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;
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  • 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.

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Paladin Resources (PLR)

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Thursday 08 September, 2005

Paladin Resources

IFRS Statement

Paladin Resources PLC
08 September 2005

Paladin Resources plc


Restatement of financial information for the year ended 31 December 2004 and at
1 January 2005 under International Financial Reporting Standards

Paladin today publishes its restated consolidated financial information for the
year ended 31 December 2004 and its Balance Sheet at 1 January 2005 under
International Financial Reporting Standards ("IFRS"). These statements are
reconciled to Paladin's UK GAAP financial information, showing the effect of the
transition to IFRS.

Paladin intends to announce its results, under IFRS, for the half-year ended 30
June 2005 on 21 September 2005. The restated 2004 half-year IFRS comparative
financial information will be included with that statement.

The principal changes to the financial information for the year ended 31
December 2004 and at 1 January 2005 are summarised below:

Year ended 31 December 2004                                                UK GAAP                       IFRS
                                                                              £000                       £000
Profit before finance costs and taxation                                   119,850                    119,200
Profit after taxation                                                       35,782                     37,256
Earnings per share (basic)                                                  11.06p                     11.52p
Net assets                                                                 169,603                    179,750

The most significant elements contributing to the change in financial
information for 2004 are:

  • the inclusion of a fair value charge in respect of outstanding employee
    share options;
  • the change in recognition of special tax allowances;
  • the change in treatment of exchange gains and losses on certain tax
    balances; and
  • the recognition of dividends when paid or authorised only.

1 January 2005 restatement                                        31 December 2004               1 January 2005
                                                                              IFRS                         IFRS
                                                                              £000                         £000
Net assets                                                                 179,750                      160,015

The change to the financial information at 1 January 2005 results from the
inclusion of financial instruments at their fair value.

The Group has continued to apply the full cost accounting policy to both
exploration and development activities. IFRS 6 permits this policy for
exploration and evaluation expenditure. However, as at the date this restatement
was authorised for issue, there was a lack of clarity in the authoritative
literature concerning the treatment of development expenditure. No agreement has
been reached amongst the UK oil industry and the accounting profession on the
acceptability of applying full cost accounting policies under IFRS to
development expenditure and, as a result, the matter has been referred to IFRIC
for consideration. The timing and outcome of IFRIC's deliberations are currently
uncertain and, until such time as some certainty has been provided on the issue,
the Directors have determined it appropriate to continue to apply the full cost
accounting policies that were in effect immediately prior to the Group's
transition to IFRS, subject to the changes in accounting policy required under
IFRS 6. The Directors will reconsider the appropriateness of the full cost
accounting policy for the Group's annual financial statements in the light of
any guidance or clarification issued by IFRIC.

The financial information for the full year ended 31 December 2004 and the
restated 1 January 2005 figures have been audited by Ernst & Young LLP.  The
full text of the restatement can be found on the Company's website, which can be
accessed by clicking on the link below.

                                                                8 September 2005


Paladin Resources plc                                    Tel:      020 7024 4500
Roy A. Franklin, Chief Executive
Cuth McDowell, Finance Director

College Hill                                             Tel :    020 7457 2020
Jim Joseph
Ben Brewerton

                      This information is provided by RNS
            The company news service from the London Stock Exchange

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