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Final Results

27th Jun 2014 07:00

RNS Number : 6747K
Red Leopard Holdings PLC
27 June 2014
 

Red Leopard Holdings Plc

("Red Leopard" or the "Company")

 

Final Results for the year to 31 December 2013

 

I am pleased to present the financial statements for the year to 31 December 2013 for Red Leopard Holdings Plc and its wholly owned subsidiaries (together the "Group").

 

Total equity of the Group as at 31 December 2013 was £320,111(2012: deficit £229,575) and the loss for the year attributable to the equity holders of the parent was £358,681(2012: £169,233).

 

As at 31 December 2013 net cash for the Group was £120,999(2012: £5,555).

 

On 23 July 2013, following shareholder approval at the 2012 AGM, the Company ceased its operations in the property sector and became an investing company pursuant to Rule 15 of the AIM Rules, at which time it adopted an investing policy which focused on the exploration and development of natural resources. On 6 September 2013, in accordance with this new policy, Red Leopard acquired the entire issued share capital of Red Leopard Mining Inc ('RLM'), a transaction which constituted a reverse takeover under the AIM Rules. RLM, an Idaho incorporated company, was established in 2013 as a special purpose vehicle into which 205 unencumbered claims (the "Claims") were transferred by Polaris Resources Inc, a wholly owned subsidiary of Quest Minerals Corporation,

 

The Claims are located in the vicinity of Shoshone County, Idaho, USA, commonly referred to as "Silver Valley". This area is well known as the premier silver district in North America, with total historic production to 2013 of around 1.2 billion ounces of silver and substantial lead, zinc, copper and gold. Most of the Claims, which cover a total land area of approximately 1,435 hectares (the equivalent to 3,546 acres), lie within the Panhandle National Forest and upon Bureau of Land Management ("BLM") land.

On the Claims land sits the Idora Tunnel. The Company recently submitted to the BLM for review and comment, a detailed written plan of operations to reopen the Idora Tunnel for purposes of exploration. Whilst the Company cannot predict with certainty the ultimate timing or actual approval of such plan of operations, RLM management remains confident that approval will be obtained.

Whilst the directors have been exploring other opportunities in the Coeur d'Alene mining district, the Company has also been proactive in considering other complimentary resource assets, in particular in Chile, and earlier this year established a wholly owned subsidiary, Minera Red Leopard Chile SpA ("MRLC"). Through MRLC, the Company recently assisted in the facilitation of the sale by Sociedad De Asesoria Jurdica y Economica Minem S.A. ("Minem"), a private company, of two properties, TresAmantes and San Antonio, located in the Atacama Region of Chile, to TSXV listed Cougar Minerals Corp ("Cougar"). In consideration, Minem paid the Company US$25,000 in cash and 300,000 ordinary shares ("Consideration Shares") in Cougar representing a proportion of the consideration Minem received for the properties, as announced on 7 April 2014.

 

A notice convening an Annual General Meeting of the Company to be held on 22 July 2014 at 10 am at 50 Jermyn Street, London SW1Y 6LX accompanies the full report and accounts which have been sent today to shareholders and are available to download from the Company's website: www.redleopardholdings.com.

 

J J May

Chairman

 

Enquiries:

 

Red Leopard Holdings PLC

 

John May, Chairman

Tel: +44 (0) 207 917 6822

 

 

Northland Capital Partners Limited

 

Gavin Burnell/ Lauren Kettle

Tel: +44 (0) 207 382 1100

 

Consolidated statement of comprehensive income for the year ended 31 December 2013

 

 

2013

 

2012

£

£

OVERHEADS

Administrative expenses

(358,681)

(169,041)

OPERATING LOSS

(358,681)

(169,041)

Finance income

-

2

Finance cost

-

(194)

LOSS FROM CONTINUING ACTIVITIES BEFORE TAXATION

(358,681)

(169,233)

Tax expense

-

-

LOSS FOR THE YEAR ATTRIBUTABLE TO THE EQUITY HOLDERS OF THE PARENT

(358,681)

(169,233)

TOTAL COMPREHENSIVE INCOME ATTRIBUTABLE TO THE EQUITY HOLDERS OF THE PARENT

(358,681)

(169,233)

Loss per share - basic

(0.28)p

(0.19)p

Loss per share -diluted

(0.28)p

(0.19)p

 

Consolidated statement of financial position

 

2013

2012

£

£

NON CURRENT ASSETS

Intangible assets

433,333

-

433,333

-

CURRENT ASSETS

Trade and other receivables

28,758

21,357

Cash and cash equivalents

120,999

5,555

TOTAL CURRENT ASSETS

149,757

26,912

TOTAL ASSETS

583,090

26,912

EQUITY

Share capital

1,500,800

1,368,334

Share premium account

3,862,860

3,097,263

Share based payment reserve

60,002

60,002

Retained earnings

(5,103,551)

(4,755,174)

TOTAL EQUITY

320,111

(229,575)

CURRENT LIABILITIES

Trade and other payables

262,979

256,487

TOTAL CURRENT LIABILITIES

262,979

256,487

TOTAL LIABILITIES

262,979

256,487

TOTAL EQUITY AND LIABILITIES

583,090

26,912

 

 

 

 

 

 

Company statement of financial position for the year ended 31 December 2013

 

 

Year ended31 December2013

Year ended31 December2012

£

£

NON-CURRENT ASSETS

Investments

433,433

100

TOTAL NON-CURRENT ASSETS

433,433

100

CURRENT ASSETS

Trade and other receivables

27,704

20,309

Cash and cash equivalents

120,992

5,555

TOTAL CURRENT ASSETS

148,696

25,864

TOTAL ASSETS

582,129

25,964

EQUITY

Share capital

1,500,800

1,368,334

Share premium account

3,862,860

3,097,263

Share based payment reserve

60,002

60,002

Retained earnings

(5,110,113)

(4,762,572)

TOTAL EQUITY

313,549

(236,973)

CURRENT LIABILITIES

Trade and other payables

268,580

262,937

TOTAL CURRENT LIABILITIES

268,580

262,937

TOTAL LIABILITIES

268,580

262,937

TOTAL EQUITY AND LIABILITIES

582,129

25,964

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated statement of changes in equity for the year ended 31 December 2013

 

 

Share capital

Sharepremium

account

Share based payment reserve

Retainedearnings

Totalequity

£

£

£

£

£

At 1 January 2013

1,368,334

3,097,263

60,002

(4,755,174)

(229,575)

Loss for the year

-

-

-

(358,681)

(358,681)

Total comprehensive income

1,368,334

3,097,263

 

60,002

(5,113,855)

(588,256)

Transactions with owners:

Equity component of compound instrument

-

-

 

-

10,304

10,304

Issue of share capital

132,466

765,597

-

-

898,063

Total transactions with owners

132,466

765,597

-

10,304

908,367

At 31 December 2013

1,500,800

3,862,860

60,002

(5,103,551)

320,111

 

 

Share capital

Sharepremium

account

Share based payment reserve

Retainedearnings

Totalequity

£

£

£

£

£

At 1 January 2012

1,350,334

3,097,263

60,002

(4,585,941)

(78,342)

Loss for the year

-

-

-

(169,233)

(169,233)

Total comprehensive income

-

-

 

-

(169,233)

(169,233)

Transactions with owners:

Issue of share capital

18,000

-

-

-

18,000

Total transactions with owners

18,000

-

-

-

18,000

At 31 December 2012

1,368,334

3,097,263

60,002

(4,755,174)

(229,575)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Company statement of changes in equity for the year ended 31 December 2013

 

Share capital

Sharepremium

account

Share based payment reserve

Retainedearnings

Totalequity

£

£

£

£

£

At 1 January 2013

1,368,334

3,097,263

60,002

(4,762,572)

(236,973)

Loss for the year

-

-

-

(357,845)

(357,845)

Total comprehensive income

1,368,334

3,097,263

60,002

(5,110,113)

(594,818)

Transactions with owners:

Equity component of compound instrument

-

-

 

-

10,304

10,304

Issue of share capital

132,466

765,597

-

-

898,063

Total transactions with owners

132,466

765,597

-

10,304

908,367

At 31 December 2013

1,500,800

3,862,860

60,002

(5,110,113)

313,549

 

 

 

Share capital

Sharepremium

account

Share based payment reserve

Retainedearnings

Totalequity

£

£

£

£

£

At 1 January 2012

1,350,334

3,097,263

60,002

(4,593,507)

(85,908)

Loss for the year

-

-

-

(169,065)

(169,065)

Total comprehensive income

-

-

 

-

(169,065)

(169,065)

Transactions with owners:

Issue of share capital

18,000

-

-

-

18,000

Total transactions with owners

18,000

-

-

-

18,000

At 31 December 2012

1,368,334

3,097,263

60,002

(4,762,572)

(236,973)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Consolidated statement of cash flows for the year ended 31 December 2013

 

2013

2012

£

£

CASH FLOWS USED IN OPERATING ACTIVITIES

(205,953)

(46,428)

INVESTING ACTIVITIES

Interest received

-

2

Interest paid

-

(194)

CASH FLOWS USED IN INVESTING ACTIVITIES

-

(192)

FINANCING ACTIVITIES

Issue of share capital

321,397

-

Proceeds from issue of convertible loan note

-

13,000

Proceeds from issue of short term loans

-

29,046

CASH FLOWS GENERATED FROM FINANCING ACTIVITIES

321,397

42,046

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

115,444

(4,574)

Cash and cash equivalents brought forward

5,555

10,129

CASH AND CASH EQUIVALENTS CARRIED FORWARD

120,999

5,555

 

Company statement of cash flows

 

2013

2012

£

£

CASH FLOWS USED IN OPERATING ACTIVITIES

(205,960)

(45,406)

INVESTING ACTIVITIES

Interest received

-

2

Interest paid on loans

-

(194)

CASH FLOWS USED IN INVESTING ACTIVITIES

-

(192)

FINANCING ACTIVITIES

Issue of share capital

321,397

-

Proceeds from issue of convertible loan note

-

13,000

Proceeds from issue of short term loans

-

29,046

CASH FLOWS GENERATED FROM FINANCING ACTIVITIES

321,397

42,046

NET INCREASE/(DECREASE) IN CASH AND CASH EQUIVALENTS

115,437

(3,552)

Cash and cash equivalents brought forward

5,555

9,107

CASH AND CASH EQUIVALENTS CARRIED FORWARD

120,992

5,555

Notes:

 

1. This statement has been prepared using accounting policies and presentation consistent with those applied in the preparation of the statutory accounts of the Company.

 

2. The summary accounts set out above do not constitute statutory accounts as defined by Section 428 of the UK Companies Act 2006. The consolidated statement of comprehensive income, the consolidated and company statements of financial position, consolidated and company statement of changes in equity and the consolidated and company statements of cash flows for the year ended 31 December 2013 have been extracted from the Company's 2013 statutory financial statements upon which the auditor's opinion is unqualified. The results for the year ended 31 December 2013 have been extracted from the statutory accounts for that period, which contain an unqualified auditor's report.

 

3. Basic loss per ordinary share for the year is based on the loss of £358,681 (2012: £169,233) and a weighted average of 127,690,964(2012: 90,830,543) ordinary shares.

 

For diluted loss per share, the weighted average number of ordinary shares in issue is adjusted to assume conversion of all potential dilutive ordinary shares. Items included in the calculation are options for ordinary shares.

The effect of conversion of all potential dilutive ordinary shares would have an anti-dilutive effect on earnings per share and therefore they have been incorporated in the diluted earnings per share calculation. Potential ordinary shares are only treated as dilutive when their conversion to ordinary shares would decrease profit per share or increase loss per share.

 

4. The annual report and accounts were posted today to shareholders. These are also available to download from the Company's website, www.redleopardholdings.com.

 

5. An Annual General Meeting of the Company will be held on 22 July 2014 at 10 am, at 50 Jermyn Street London, SW1Y 6LX

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