Final Results

Leed Resources plc

("Leed" or "the Company")

Final Results

Leed Resources plc, (AIM: LDP), the natural resource investment company, is pleased to announce its final audited results for the year to 30 June 2014.

The full audited financial statements for the year ended 30 June 2014 and the notice of AGM will be available on the company's website: www.leedresourcesplc.com.

Chairman's Statement

The Directors undertook a comprehensive review of the business earlier in the fiscal year. The objective was to address three core issues: revisit the operating budget in detail; define a process to screen and execute on potential transactions; and evaluate whether the composition of the Directors was best suited to take the company forward. 

With regards to cost control, the final results show a 35% reduction in G&A expenses, year on year. Continuing changes throughout the year, and subsequently, will ensure this trend will continue into 2015. All other things being equal, the Directors target to reduce the annualized spend by 20% compared to that incurred in 2014. In addition to the significant cost reduction exercise, it is worth restating that the Directors chose to cancel all existing options to better align all stakeholder interests. 

On the topic of progressing an investment/transaction, the Directors retained the services of PGMM to both expand the number of opportunities the Board could review and more importantly help conduct due diligence on them to the point of execution. Whilst numerous opportunities have been reviewed, none have as yet materialised, primarily because one or more of the parameters of size, commodity, location or nearness to cash flow was deficient. However, the Board is currently at an advanced stage of discussions on a particular transaction relating to a minerals operation in Australia and hopes to provide shareholders with an update shortly. 

The Company also remains focused on crystallizing any value from the investment in Manas Coal LLC. Despite limited optimism at the interim stage, no progress on the project has been made by shareholders of Manas Coal LLC. Compounding the issue of licence dispute, the removal of a local director/shareholder has been the subject of attempts by the director to block any progress. Shareholders have, however, got more financial information and this is a necessary precursor to attracting other prospective investors into what remains a large (120 million tonnes) coking coal deposit with a nearby railhead able to serve the Chinese market. As already stated, the Company will not be making further investments into Manas LLC, it remains written down to zero but we remain cautiously optimistic that a settlement between shareholders can be reached and some value extracted from it. 

On behalf of the Board, I take this opportunity to thank shareholders for their patience, understanding and commitment to the Company. I envisage a positive outlook for Leed Resources PLC in 2015.

JInesh Patel

Chairman

13 November 2014

Investing policy

Leed is an investing company quoted on AIM, focused on opportunities in the natural resources sector, with an emphasis mainly but not exclusively on the mining sector. In line with this policy, the proposed investments to be made by the Company may be either quoted or unquoted; made by direct acquisition or through farm-ins; may be in companies, partnerships, joint ventures; or direct interests in natural resource projects. Target investments will generally be involved in projects in the exploration and/or development stage. The Company's equity interest in a proposed investment may range from a minority position to 100 per cent ownership. The Directors will initially focus on projects located in Asia but will also consider investments in other geographical regions. It is possible that the Company's financial resources will be invested in a small number of projects or potentially in just one investment which may be deemed to be a reverse takeover under the AIM Rules. The Directors have not, however, excluded the possibility of building a broader portfolio of investment assets. The Company intends to deliver shareholder returns principally through capital growth rather than capital distribution via dividends.

Financial review

The Company recorded a loss after taxation of £236,000 for the period ended 30 June 2014, as compared to the restated loss of £1,339,000 for the prior year.

As at 30 June 2014 the Company held approximately £1,545,000 in cash and £nil in quoted investments.

Key performance indicators

The Company's chief measurements of performance are the net asset value per share, share price and market capitalisation.

For further information, please contact:

Statement of comprehensive incomefor the year ended 30 June 2014

Statement of Cash Flowsfor the year ended 30 June 2014

1. General information

Leed Resources PLC is a publicly quoted company registered in the United Kingdom. The address of its registered office is 55 Gower Street, London WC1E 6HQ.

2. Loss for the period

Selected items comprising the loss for the years ended 30 June 2014 and 2013, respectively are as follows:

3. Loss per Ordinary Share

A recap of loss per ordinary share and weighted average shares outstanding for the years ended 30 June 2014 and 2013, respectively, follows:

4. Investments

The Company operates as an investment company in the natural resources industry.

Copies of the annual report and accounts for Leed for the year ended 30 June 2014 and the notice of AGM are being sent to shareholders and will shortly be available on the Company's website at www.leedresourcesplc.com.