Interim Results

RED LEOPARD HOLDINGS PLC

("Red Leopard", the "Company" or the "Group")

Interim results for the six months ended 30 June 2015

Red Leopard presents the unaudited interim accounts for the six months ended 30 June 2015.

During the period, the Company announced in January 2015 that further in the Idora Tunnel (the "Tunnel"), rock falls had been discovered which hindered access to the ore body and any sampling thereof. Due to the Health & Safety complexities arising from these rock falls, the cost of commencing a work programme at the Tunnel increased beyond the Company's original budget. Winter weather in the first part of the year also curtailed progress. The Company further announced that it would have to secure additional funding to be able to commence with its clearance of the Tunnel.

We are pleased to report that, as announced in August 2015, the Company raised a total of £175,000 before expenses through a placing of 175,000,000 ordinary shares with new investors, the net proceeds of which will enable the Company to access and clear the Idora Tunnel for the purposes of exploration and testing on its mining claims. The Company remains committed to completing this project and is now waiting for revised work quotes from local mining engineers. This process has been delayed due to severe forest fires in Idaho which have closed the relevant access roads, however the fires have recently subsided and the Company hopes that progress at the Tunnel can now be made. The placing has also provided the Company with additional working capital. 

Throughout, the Company continues to be proactive in exploring and considering other complimentary resource assets and opportunities

A copy of the interim results will be available on the Company's website

www.redleopardholdings.com

For further information, please contact:

John May, Red Leopard Holdings Plc, Tel: 020 917 6826

Gerry Beaney/David Hignell, Northland Capital Partners Limited, Tel: 0207 382 1100

Jon Levinson, Beaufort Securities Limited, Tel: 0207 382 8300

Consolidated statement of comprehensive income

Consolidated statement of financial position

Consolidated statement of changes in equity

Consolidated statement of cash flows

Notes to the consolidated financial statements

1 Nature of operations and general information

PRINCIPAL ACTIVITY

Red Leopard Holdings plc is focussed on the natural resources sector (both exploration and production), with a particular emphasis on precious mining assets and interests. 

BUSINESS REVIEW

Financial overview and performance

Loss for the group before tax for the period was £113,981 (2014: £80,662).

StrategyThe Company' strategy is to adhere to its investing policy focussed on natural resources.

Investing Policy

The investing policy is to pursue investments in the natural recourses sector, and in particular, precious metals.

The Directors are initially focussed on North and South America, where the Directors believe that a number of opportunities exist to acquire interests in suitable projects. Investments may be made in exploration, development and/or producing assets.

The Directors may consider it appropriate to purchase companies or interests in assets which may result in an equity interest in any proposed investment ranging from a minority position to 100 per cent ownership. Proposed investments may be made in either quoted or unquoted companies and structured as a direct acquisition, joint venture or a direct interest in a project.

Where necessary, the Company may seek participation in the management or with the board of directors of an entity in which the Company invests; or in the event that it is acquired then in the on-going enlarged entity.

New investments will be held for the medium to longer term; although shorter term disposal of any investments cannot be ruled out should such an opportunity present itself.

There is no limit on the number of projects into which the Company may invest, and the Company's financial resources may be invested in a number of propositions or just one, which may be deemed to be a reverse takeover pursuant to Rule 14 of the AIM Rules. Where the Company builds a portfolio of related assets it is possible that there may be cross-holdings between such assets. The Company does not currently intend to fund any investments with debt or other borrowings but may do so if appropriate.

The Directors undertake initial project assessments themselves with additional independent technical advice as required. The Company does not have a separate investment manager.

The Directors may offer new Ordinary Shares by way of consideration as well as cash subject to its availability to the Company. The Company may in appropriate circumstances, issue debt securities or otherwise borrow money to complete an investment. The Directors do not intend to acquire any cross-holdings in other corporate entities that have an interest in the Ordinary Shares.

Corporate Information

Red Leopard Holdings plc is the Group's ultimate parent company. It is incorporated and domiciled in Great Britain. The address of Red Leopard Holdings plc's registered office is 50 Jermyn Street, London, SW1Y 6LX. Red Leopard Holdings plc's shares are listed on the Alternative Investment Market of the London Stock Exchange.

2 Basis of preparation

The financial information presented in this half-yearly report constitutes the condensed consolidated financial statements (the interim financial statements) of Red Leopard Holdings plc for the six months ended 30 June 2015.

The interim financial statements should be read in conjunction with the Financial Statements for the year ended 31 December 2014 which have been prepared in accordance with International Financial Reporting Standards as adopted for use in the EU. The financial information in this half yearly report, which has been approved by the Board and authorised for issue is unaudited. The financial information set out in this interim report does not constitute statutory accounts as defined in Section 434 (3) of the Companies Act 2006. The comparative financial information presented herein for the year ended 31 December 2014 has been extracted from the Group's Financial Statements for the year ended 31 December 2014 which have been delivered to the Registrar of Companies.

These financial statements have been prepared under the historical cost convention.

These consolidated interim financial statements have been prepared in accordance with the accounting policies adopted in the last annual financial statements for the year to 31 December 2014.

The accounting policies have been applied consistently throughout the Group for the purposes of preparation of these consolidated interim financial statements. The consolidated financial information includes the accounts of the Company and its subsidiaries, after the elimination of inter-company transactions and balances.

3 Earnings per share

The calculation of the basic loss per share is based on the loss attributable to ordinary shareholders divided by the weighted average number of shares in issue during the year.

The calculation of diluted loss per share is based on the basic loss per share, adjusted to allow for the issue of shares and the post tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.

Reconciliations of the loss and weighted average number of shares used in the calculations are set out below.

6 months to 30 June 2014

Year to 31 December 2014

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 to be included in the calculation are:

- Options for ordinary shares

- Convertible loan notes for ordinary shares

The effect of conversion of all potential dilutive ordinary shares would have an anti-dilutive effect on loss per share and therefore they have not been incorporated in the diluted loss per share calculation.

4 Intangible assets

On 24 September 2013, the Company acquired the entire issued share capital of Red Leopard Mining Inc ("RLM"). There were no assets or liabilities in RLM at the acquisition date other than mining claims located in Shoshone County, Idaho, USA, which have been recognised as separately identifiable intangible assets in respect of exploration and development rights. The Company pays annual rental fees per claim to keep the claims in good standing for the following year

The Directors assess the asset at each reporting date for indications of impairment. The mining claims have not yet been fully developed; therefore there are only inferred resources to form a basis for an impairment review. The directors have determined therefore that no impairment is required.

5 Trade and other receivables

6 Trade and other payables

Included within accruals at the period end are £119,375 outstanding Directors' fees and salaries from April 2014. Following the period end, the Directors satisfied outstanding fees and salaries to July 2015 by subscribing for ordinary shares at 0.1 pence following a successful placing (Note 8) in August 2015.

7 Borrowings

At the end of the period, the Company had short term loans outstanding amounting to £94,514, repayable on demand. The holders have agreed not to call upon any loan notes until sufficient new funds are received that allow the Company to finance itself going forward and waived the right to the receipt of the 6% interest above base rate, provided for under the loan agreement. These loans do not carry any conversion options. Following the period end, £14,514 of these loans have been repaid.

The Company has in issue convertible loan notes to the value of £20,000 for outstanding fees for professional services relating to the re-admission of the company on AIM in 2013. The notes are interest free and unsecured. Following the period end, the company received a Notice of Conversion from City & Westminster Corporate Finance LLP in August 2015 to convert all of its convertible loan notes in issue into 20,000,000 ordinary shares (Note 8). Following conversion, the Company no longer has any convertible loan notes outstanding.

The convertible loan notes in issue at the period end contain both a financial liability and an equity component. These components have been accounted for and presented separately according to their substance. The equity component has been assigned the residual value having deducted the fair value of the liability component from the fair value of the instrument as a whole.

8 Share Capital

Shares issued for the period to 30 June 2015 are summarised as follows:

6 months to 30 June 2015

6 months to 30 June 2014

Year to 31 December 2014

In August 2015, the Company announced a placing to raise £175,000 before expenses through the placing of 175,000,000 ordinary shares; a loan note conversion (Note 7) of £20,000 into 20,000,000 ordinary shares; and a Directors' subscription (Note 6) for a total of 131,458,333 ordinary shares.