Results

IQ Holdings plc

12 February 2010:

IQ Holdings Plc ("IQH" or "the Company") announces its interim results for the period ended 30 September 2009.

Chairman's Report for 12 Months Ended 30th September 2009

I am pleased to announce the unaudited interim results of IQ Holdings plc ("IQH" or "the Company") for the twelve months ended 30th September 2009. The Company has changed its year end to 31 March 2010 as it disposed of its remaining operating subsidiaries on 29 January 2010. This transaction substantially altered the future strategy and financial position of the Company.

These results include the results of Viewpoint Field Services Limited ("Viewpoint") and The Wire Services (UK) Limited ("The Wire") since their acquisition on 29 January 2009 and show a loss for the 12 month period of £640,000. The Wire ceased trading at the end of February 2009. Viewpoint and Rosslyn Research Ltd ("Rosslyn") were disposed of to Rivington Street Holdings plc on 29 January 2010.

Following the disposal, the Company's shareholders will receive a distribution of shares in Rivington Street Holdings plc. As part of the terms of the disposal Julian Green and Gale Blears have resigned as directors of the Company, since they will be fully engaged in running the Viewpoint and Rosslyn businesses. In addition, Neil McGowan and Joe Seydel have resigned their positions as non- executive directors.

I would like to express both my personal and corporate thanks to the departing directors for their contribution to the Company over the past few years. 

Following the disposal of Viewpoint and Rosslyn the Company has been classed as an investing company and its strategy is to seek acquisition opportunities in the real estate, manufacturing or marketing sectors both abroad and in the UK. I hope to advise on developments in this area in due course. 

Contacts:

John Mitchel

IQ Holdings plc

Tel: 0208 099 0579

Fiona Kindness / Gerry Beaney

Grant Thornton Corporate Finance (Nomad)

Tel: 0207 7383 5100

UNAUDITED CONSOLIDATED INCOME STATEMENT

TWELVE months ended 30 SEPTEMBER 2009

UNAUDITED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

twelve months ended 30 september 2009

For the 6 months ended 31 March 2009 (Unaudited)

For the 12 months ended 30 September 2008 (Audited)

UNAUDITED CONSOLIDATED CASHFLOW STATEMENT

FOR THE 12 MONTH PERIOD TO 30 SEPTEMBER 2009

NOTES TO THE UNAUDITED INTERIM FINANCIAL REPORT

for the 12 months ended 30 september 2009

1. BASIS OF PREPARATION OF INTERIM REPORT

The information for the interim accounts for the twelve month period ended 30 September 2009 has neither been audited or reviewed by the auditors, and does not constitute statutory accounts as defined in section 240 of the Companies Act 1985 (section 435 of the Companies Act 2006). The figures and financial information for the year ended 30 September 2008 do not constitute financial statements for that year. Those financial statements have been delivered to the Registrar and included an audit report which was unqualified, contained no statements under either section 237(2) or (3) of the 1985 Act (section 498(2) or (3) of the 2006 act). The audit report in those financial statements ended 30 September 2008 did however contain the following emphasis of matter:

"Without qualifying our opinion, we draw attention to Note 1 in the financial statements. The Group incurred a net loss of £440,000 during the year ended 30 September 2008 and, as of that date, the Group's current liabilities exceeded its current assets by £677,000. These conditions, along with other matters explained in Note 1 to the financial statements and in the Chairman's Report on page 3, indicate the existence of a material uncertainty which may cast significant doubt about the Company's and Group's ability to continue as a going concern. The financial statements do not include the adjustments, to the balance sheet that would result if the Company or Group was unable to continue as a going concern."

2. loss per share

The calculation is based on the loss attributable to equity shareholders divided by the weighted average number of ordinary shares in issue during the period as follows:

3. CASH USED IN OPERATIONS