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Guild Acquisitions PLC (GAQO)

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Wednesday 27 April, 2011

Guild Acquisitions PLC

Final Results


FINAL RESULTS FOR THE YEAR ENDED 31 DECEMBER 2010


                    GUILD ACQUISITIONS PLC

                   ("Guild" or "the Company")




CO-CHAIRMAN'S REPORT
FOR THE YEAR ENDED 31 DECEMBER 2010

2010 was eventful and uneventful in equal measure. There were no investments
made or sold, but the group managed to show a small profit of £26,099 (2009:
loss of £66,201). Despite high expenses, this profit was due to a write back of
£105,441 in the shares of Equity Resources plc, which had previously been
written off, less an exchange loss of £6,630. At the year end, the net asset
per share stood at 0.27 pence per share, compared to 0.41 pence at the end of
2009, largely due to the substantial issue of shares at 0.2 pence during the
year.

In my statement last year, I said that we would need more cash in 2010. I would
have liked to undertake a simple funding exercise, but we were not allowed to
issue shares below the par value of one pence per share, so we had to call an
extraordinary general meeting, with all the costs involved, and split each
share into one new ordinary share of 0.1 pence and one deferred C share of 0.9
pence. This allowed me to put £30,000 into the company, by means of issuing 12
million shares of 0.25 pence per share. Subsequently, we issued a further
9,650,000 shares to Mr Bruce Rowan at 0.2 pence per share, injecting £19,300
into the company.

However, it was clear that this only offered a breathing space, as the cost of
running the company and paying extraordinary expenses meant that cash would run
out in April this year. I am glad to say that Bruce Rowan came up with a
proposal to inject a further £150,000 into the company by means of a
subscription for 75 million shares at 0.2 pence per share. He also offered to
act as an investment consultant, a role for which he has an established
reputation. However, this would mean that Bruce Rowan would hold 84,650,000
shares, being approximately 63.1% of the enlarged voting rights of the company.
This was contrary to the City Regulations, which limits individual or concert
party holdings to 30% of a company's voting rights under Rule 9 of the City
Code. So, we had to go to the Takeover Panel to get a waiver to this particular
rule. Accordingly, I wrote up a lengthy proposal to the Takeover Panel,
submitted on July 28th 2010, in order to achieve a waiver, but with endless
exchanges, legal and administrative, it took to December 1st to hold another
extraordinary general meeting to put this to the shareholders. In the event,
both resolutions were passed, firstly, to issue the 75 million shares to Bruce
Rowan and, secondly, to secure a waiver to Rule 9 of the City Code.

We can now look forward, although still with limited funds to investing in the
future.

My thanks are due to our investors for their patience and for continuing to
support us, and also to all those who helped us through this difficult year.

SHAUN DOWLING

Co- Chairman



GUILD ACQUISITIONS PLC
GROUP PROFIT AND LOSS ACCOUNT
FOR THE YEAR ENDED 31 DECEMBER 2010


                         2010                  2009
                                               
                            £                     £
                                               
TURNOVER                    -                     -
                                               
Cost of sales        (98,811)                21,318
                                               
GROSS PROFIT/          98,811              (21,318)
(LOSS)                                         
                                               
Administrative         72,716                44,635
expenses                                       
                                               
OPERATING PROFIT       26,095              (65,953)
/(LOSS)                                        
                                               
Interest                    4                     7
receivable and                                 
similar income                                 
                                               
PROFIT/(LOSS) ON       26,099              (65,946)
ORDINARY                                       
ACTIVITIES                                     
BEFORE TAXATION                                
                                               
Tax on profit/              -                   255
(loss) on                                      
ordinary                                       
activities                                     
                                               
PROFIT/(LOSS)          26,099              (66,201)
FOR THE                                        
FINANCIAL YEAR                                 
AFTER TAXATION                                 
                                               
Earnings per                                   
share expressed                                
in pence per                                   
share:                                         
                                               
Basic                    0.05p                -0.21p  
                                               
Diluted                  0.05p                -0.19p  



ACQUISITION & DISCONTINUED OPERATIONS

None of the group's activities were acquired during the current or previous
period. The company's subsidiary undertaking, Guild Management Limited was
dissolved on 31 August 2010. This company has not commenced trading and had no
income or expenses in the year (2009: no income and administrative costs of £
1,027). The profit and loss for 2010 therefore reflects continuing operations.

TOTAL RECOGNISED GAINS AND LOSSES

The group has no recognised gains or losses other than the profit for the
current year and the loss for the previous year.



GUILD ACQUISITIONS PLC
GROUP BALANCE SHEET
31 DECEMBER 2010

                                             2010              2009  
                                                                      
                                                £                 £   
                                                                      
CURRENT ASSETS                                                        
                                                                      
Investments                               279,171           180,360   
                                                                      
Cash at bank                              143,045            18,916    
                                                                      
                                          422,216           199,276   
                                                                      
CREDITORS                                                             
                                                                      
Amounts falling due                        13,684            16,143    
within one year                                                       
                                                                      
NET CURRENT ASSETS                        408,532           183,133   
                                                                      
TOTAL ASSETS LESS CURRENT LIABILITIES     408,532           183,133   
                                                                      
CREDITORS                                                             
                                                                      
Amounts falling due                        62,000            54,000    
after more than one                                                   
year                                                                  
                                                                      
NET ASSETS                                346,532           129,133   
                                                                      
CAPITAL AND RESERVES                                                  
                                                                      
Called up share                           416,760           320,110   
capital                                                               
                                                                      
Share premium                             306,882           204,232   
                                                                      
Other reserves                              8,000            16,000    
                                                                      
Profit and loss                         (385,110)         (411,209) 
account                                                               
                                                                      
SHAREHOLDERS' FUNDS                       346,532           129,133 

  
                                                                      

GUILD ACQUISITIONS PLC
PARENT COMPANY BALANCE SHEET
31 DECEMBER 2010

                                             2010              2009
                                                           
                                                £                 £
                                                           
FIXED ASSETS                                               
                                                           
Investments                                     -                 -
                                                           
CURRENT ASSETS                                             
                                                           
Investments                               279,171           180,360
                                                           
Cash at bank                              143,045            18,103
                                                           
                                          422,216           198,463
                                                           
CREDITORS                                                  
                                                           
Amounts falling due                        13,684            13,867
within one year                                            
                                                           
NET CURRENT ASSETS                        408,532           184,596
                                                           
TOTAL ASSETS LESS                         408,532           184,596
CURRENT LIABILITIES                                        
                                                           
CREDITORS                                                  
                                                           
Amounts falling due                        62,000            54,000
after more than one                                        
year                                                       
                                                           
NET ASSETS                                346,532           130,596
                                                           
CAPITAL AND RESERVES                                       
                                                           
Called up share capital                   416,760           320,110
                                                           
Share premium                             306,882           204,232
                                                           
Other reserves                              8,000            16,000
                                                           
Profit and loss account                 (385,110)         (409,746)
                                                           
SHAREHOLDERS' FUNDS                       346,532           130,596

The financial statements were approved by the Board of Directors on 21 April 2011.



DIVIDENDS

No dividends will be distributed for the year ended 31 December 2010.


Status of Financial Information

The financial information has been extracted from the audited accounts for the

year ended 31 December 2010. The auditors' report thereon was unqualified.

The directors of the Company are responsible for, and have approved, the
contents of this announcement.


Contact Details:

Guild Acquisitions Plc

Shaun Dowling or Stephen Corran

Tel: 01624 676716


Beavis Morgan LLP

Simon Hammerton or Richard Thacker

Tel: 020 7417 0417


                                                                                                                                                                                                                                                             

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