21st Oct 2005 17:07
Castor Investments Plc21 October 2005 Castor Investments plc (the "Company") 21 October 2005 INTERIM REPORT TO SHAREHOLDERS Chairman's statement I have pleasure in presenting the first set of Interim Results for CastorInvestments Plc ("Castor" or "the Company") for the period from incorporation on31st January 2005 to 31st July 2005. Castor generated a trading loss for theperiod of £78,000, primarily due to expenses of admission and had cash balancesof £982,000 remaining at 31 July 2005. During this period your Board has been actively identifying and examiningpotential acquisitions for Castor in accordance with the Company's remit as setout in its AIM Admission Document. Your Board has considered a wide range of potential investment opportunities andthey have been pleased with the quantity and quality of this deal flow. None ofthese potential acquisitions has yet reached the exacting standards set by yourBoard. The Board has intensified their search in identifying a suitable company inwhich to invest and feel confident this will lead to an acquisition in the nearfuture. David BartonNon-Executive Chairman Enquiries: Castor Investments PlcDavid Barton (Chairman) Tel: 020 7584 9256 Teather & Greenwood LtdStephen Austin and Harry Nicholas Tel: 020 7426 9000 CASTOR INVESTMENTS PLCInterim Unaudited Accounts for the Six Months ended 31 July 2005 PROFIT AND LOSS ACCOUNT Half year ended 31 July 2005 (Unaudited) £000 Administrative expenses 95 Operating Loss (95) Interest received 17 Loss on ordinary activities before and after taxation (78) Loss per ordinary share (pence) (Note 2)Basic (0.3)Diluted (0.3) All amounts relate to continuing activities. All recognised gains and losses are shown in the Profit & Loss Account. RECONCILIATION OF MOVEMENT IN SHAREHOLDERS FUNDS Half year ended 31 July 2005 (Unaudited) £000 Loss for the period (78) New share capital subscribed Share premium 272 Opening shareholders' funds 788 Closing shareholders' funds 982 CASTOR INVESTMENTS PLCInterim Unaudited Accounts for the Six Months ended 31 July 2005 BALANCE SHEET 31 July 2005 (Unaudited) £000 Current Assets Cash at bank and in hand 982 982 Capital and ReservesCalled up share capital 272Share premium 788Profit and loss account deficit (78) Shareholders' funds - equity 982 CASTOR INVESTMENTS PLCInterim Unaudited Accounts for the Six Months ended 31 July 2005 CASH FLOW STATEMENT Half year ended 31 July 2005 (Unaudited) £000 Net loss from operating activities (78) Cash outflow before financing (78) FinancingIssues of ordinary shares for cash 1,060 Increase/(decrease) in cash 982 CASTOR INVESTMENTS PLCInterim Unaudited Accounts for the Six Months ended 31 July 2005 Note 1 - Basis of preparation The interim accounts have been prepared in accordance with applicable accountingstandards and under the historic cost convention. The financial information set out in this interim statement, does not constitutestatutory accounts within the meaning of Section 240 of the Companies Act 1985. Note 2 - Loss per share The loss per share is calculated based on: Half year ended 31 July 2005 Loss for the period (£000) (78) Weighted average number of shares in issue (000) 27,200 END This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Mercia Asset