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Early Equity Plc (EEQP)

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Wednesday 02 July, 2014

Early Equity Plc

Audited Results for the Year ended 31 August 2013

                               EARLY EQUITY PLC                                

                       ("Early Equity" or the "Company")                       

             AUDITED RESULTS FOR THE YEAR ENDING 31 AUGUST 2013              

Further to the Company's preliminary announcement of unaudited results released
on 31 January 2014, the Directors of Early Equity announce that the audit of
its results for the year ended 31 August 2013 has now been completed. The audit
has resulted in some changes to the figures previously announced, primarily due
to the recognition of activity relating to the financial year and the decision
to de-register for VAT with effect from 1 September 2012. The Company's audited
results are set out below.


Early Equity Plc is an investment company quoted on the ISDX Growth Market,
focusing on early stage companies with potential for significant growth in the
medium to long term.

I am pleased to present the financial results for Early Equity Plc for the year
ended 31 August 2013. The results are in line with management expectations and
the total comprehensive loss for the year was £251,679 (2012 - £15,808). The
loss per share was 0.10p (2012 - 0.33p). The loss before tax of £251,679 (2012
- £140,582) largely reflects the costs of maintaining a public listing.
Operating expenses will be kept at a minimum until more funds are raised for
the Company.

At year end, the value of our investment portfolio stood at £133,118 (2012 - £
286,078). The value of our investment portfolio has decreased by £153k as the
value of our investments in Tangibal Group Plc (quoted on the Frankfurt Börse)
and Alpha Prospects Plc (quoted on GXG Markets) have declined significantly
over the past year. These investments remain non-core and we will seek to
realize these investments when the opportunity arises.

In October 2012, the Company undertook a share capital reorganisation and an
Open Offer to raise approximately £200,000 (gross of expenses). As part of the
Open Offer, 199,953,000 ordinary shares were issued at the Open Offer Price of
0.1 pence per ordinary share. In April 2013, the Company issued another
2,500,000 ordinary shares and raised £7,500. The Company intends to raise
further funds in the future in order to continue the evaluation of investment

After the period, in March 2014, Chua Siew Lian (Edwin) joined the Board while
Lim Hui Jie resigned as a director. We thank him for his past contributions to
the Company.

The Company's investment strategy is to invest in early stage, small to medium
enterprises around the world. With limited resources on hand, the directors
have been prudent and have rejected a number of investment opportunities.
Nonetheless, we continue to evaluate potential investments in pursue of our
investment strategy. Communications to shareholders will be sent when
developments are made.

Finally, on behalf of the board, I would like to take this opportunity to thank
the Company's shareholders and professional advisers for their support and
assistance throughout the year.

Christopher Neo - Executive Director


                                                  2013             2012        
                                                   GBP              GBP        
CONTINUING OPERATIONS                                                                
TURNOVER                                       -                  6,000              
OTHER INCOME                                   -                  13,894             
ADMINISTRATIVE EXPENSES                        (174,351)          (83,665)           
OTHER OPERATING EXPENSES                       (76,697)           (75,506)           
FINANCE COSTS                                  (631)              (1,305)            
                                               ------------------ ------------------
LOSS BEFORE TAX                                (251,679)          (140,582)          
INCOME TAX                                     -                  -                  
                                               ------------------ ------------------ 
LOSS FOR THE YEAR                              £(251,679)         £(140,582)         
                                               =========          =========          
OTHER COMPREHENSIVE INCOME                                                           
Reclassification of fair value gain on                                               
disposal of available-for-sale                                                       
financial assets                               -                  124,774            
                                               ------------------ ------------------ 
TOTAL COMPREHENSIVE LOSS FOR THE YEAR          £(251,679)         £(15,808)          
                                               =========          =========          
BASIC AND DILUTED LOSS PER SHARE (PENCE)       (0.10)             (0.33)             
                                               =========          =========          

AS AT 31 AUGUST 2013

                                                 2013             2012               
                                                  GBP              GBP         
NON-CURRENT ASSETS                                                                   
Available-for-sale financial assets            133,118            286,078            
                                               ----------------   ----------------   
CURRENT ASSETS                                                                       
Trade and other receivables                    10,152             14,736             
Cash and cash equivalents                      44,000             -                  
                                               54,152             14,736             
CURRENT LIABILITIES                                                                  
Trade and other payables                       29,822             22,877             
NET CURRENT ASSETS/(LIABILITIES)               24,330             (8,141)            
                                               ------------------ ------------------ 
NET ASSETS                                     £157,448           £277,937           
                                               =========          =========          
Share capital                                  424,623            222,170            
Share premium                                  211,090            206,090            
Fair value reserve                             21,935             98,198             
Accumulated losses                             (500,200)          (248,521)          
SHAREHOLDERS' FUNDS                            £157,448           £277,937           
                                               =========          =========          

The Audited Results are prepared in accordance with International Financial
Reporting Standards (IFRS). The financial information contained in this
statement, relating to the year ended 31 August 2013, has been audited. A copy
these financial statements for the year ended 31 August 2013 will be posted to
shareholders together with a notice of the Company's Annual General Meeting.

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

The Directors of the Company accept responsibility for the contents of this


Early Equity Plc
Tel: +44 (0)7830 182501
Greg Collier

Peterhouse Corporate Finance Limited
Tel: +44 (0)20 7469 0934
Fungai Ndoro and Mark Anwyl

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