RNS Number:6562J
9999 plc
29 September 2006
9999 Plc
INTERIM FINANCIAL REPORT FOR THE PERIOD
ENDED 30 JUNE 2006
Chairman's Statement
Since coming to the market the Board has been, and is continuing to seek and
identify appropriate investment opportunities. Following the company's EGM on
21st August I have assumed my position as Executive chairman of 9999 Plc and
will lead the company in making its first acquisition. Reg Pomphrett has also
now been appointed as a non-executive director of the company. The Company's
shares were suspended on 31 March 2006 pending completion of a substantial
investment transaction. I am pleased to report that 9999 Plc is continuing to
conduct due diligence on a company in the outsourcing sector with the aim of
making an acquisition.
Results
The Company's cash balance as at 30 June 2006 was #201,137. The Company's cash
balances have since been increased by the successful completion of the share
subscription at the company's recent EGM. The Directors have placed the
Company's free cash balances in interest bearing deposit accounts with its
bankers.
I look forward to updating you further on our progress.
Dr MS Kalairajah
Executive Chairman
28 September 2006
Profit and Loss Account for the period ended 30 June 2006
6 months Period Year
ended ended ended
30 June 30 June 31 December
2006 2005 2005
Note # # #
Administrative expenses (15,394) (10,537) (33,738)
Loss on ordinary activities before
interest (15,394) (10,537) (33,738)
Interest receivable 3,062 1,109 4,365
Loss on ordinary activities after
taxation (12,332) (9,428) (29,373)
Tax on ordinary activities - - -
Loss on ordinary activities after
taxation (12,332) (9,428) (29,373)
Loss per share: Basic 2 (0.027)p (0.021)p (0.065)p
Fully diluted 2 (0.024)p (0.018)p (0.058)p
There were no recognised gains or losses other than as set out above. All
activities are ongoing.
Balance Sheet
30 June 30 June 31 December
2006 2005 2005
Note # # #
Current assets
Cash at bank and in hand 201,137 219,472 206,833
Prepayments 3,825 - -
204,962 219,472 206,833
Creditors: amounts falling due within
one year (21,032) (3,265) (10,571)
Net current assets 183,930 216,207 196,262
Total assets less current liabilities 183,930 216,207 196,262
Creditors: amounts falling due after
more than one year - - -
Net assets 183,930 216,207 196,262
Capital and reserves
Share capital 3 112,500 112,500 112,500
Share premium account 113,135 113,135 113,135
Profit and loss account (41,705) (9,428) (29,373)
Shareholders' funds - equity 183,930 216,207 192,262
Statement of Cash flows
6 months Period Year
ended ended ended
30 June 30 June 31 December
2006 2005 2005
Note # # #
Net cash outflow from operating 4
activities (8,758) (7,272) (23,167)
Returns on investments and
servicing of finance
Interest received 3,062 1,109 4,365
Net cash flow before financing (5,696) (6,163) (18,802)
Financing
Issue of ordinary share capital - 300,000 300,000
Costs of issue of share capital - (74,364) (74,365)
(Decrease)/Increase in cash (5,696) 219,472 206,883
Reconciliation of net cash flow to
movement in net debt
(Decrease)/Increase in cash in the
period (5,696) 219,472 206,833
Net funds at start of period/incorporation 206,833 - -
Net funds at 30 June 2006/
31 December 2005 5 201,137 219,472 206,833
Notes to the Interim Financial Report
1. Basis of preparation
The interim financial report for the period ended 30 June 2006 was approved by
the Board of 9999 Plc ('the Company') on ( ) September 2006. The interim
financial report has not been audited and does not constitute statutory
financial statements for the purposes of section 240 of the Companies Act 1985.
The interim financial report has been prepared using accounting policies
consistent with those used in preparing the Company's audited financial
statements for the year ended 31 December 2005.
The Company's audited statutory financial statements respect of the period ended
31 December 2005 which contained an unqualified audit opinion, have been filed
with the Registrar of Companies.
2. Loss per share
Basic loss per share is calculated on the basis of the net loss attributable to
ordinary shareholders divided by the weighted average number of shares in issue
during the period.
Diluted loss per share represents basic loss per share after allowing for the
dilutive effect of the conversion into ordinary shares of the weighted average
number of options outstanding during the period. The total number of shares in
issue used to calculate the diluted earnings per share in the period ended 30
June 2006 was 51,000,000.
3. Share capital
31
30 June 30 June December
2006 2005 2005
# # #
Authorised
400,000,000 ordinary shares of 0.25p each 1,000,000 1,000,000 1,000,000
Allotted, called up and fully paid
45,000,000 ordinary shares of 0.25p each 112,500 112,500 112,500
The Company was incorporated on 8 March 2005 with an authorised share capital of
#1,000,000 divided into 1,000,000,000 ordinary shares of 0.1 pence each, of
which 2 were issued fully paid to subscribers. Subsequently, on 10 March 2005,
an additional 3 ordinary shares of 0.1 pence each were issued.
On 10 March 2005 resolutions were passed consolidating the Company's share
capital into #1,000,000 divided into 400,000,000 0rdinary shares of 0.25 pence
each, authorising the directors to allot relevant securities, dis-apply
pre-emption rights and authorising the directors to grant options.
Subsequently, on 10 March 2005, the Company issued 19,999,998 new ordinary
shares fully paid to subscribers at 0.25 pence per share.
0n 31 March 2005, a further 25,000,000 new ordinary shares of 0.25 pence per
share were issued at the placing price of 1 pence per share. At that date there
were 45,000,000 ordinary shares of 0.25 pence in issue, all fully paid.
At 30 June 2005 the Company had issued options to subscribe for 5,000,000
ordinary shares to the executive directors of the Company and a further
1,000,000 ordinary shares to the non-executive director of the Company, all at 1
pence per share. The options issued to the executive directors are exercisable
at any time up to five years from the date of admission to AIM provided that the
Company has successfully completed its first investment transaction within 12
months of admission. The non-executive options are exercisable at any time up
to five years from the date of admission to AIM.
4. Net Cash Outflow from Operating Activities
6 months Period Year ended
ended 30 ended 30 31 December
June 2006 June 2005 2005
# # #
Operating loss (15,394) (10,537) (33,738)
Increase in Creditors 10,461 3,265 10,571
Incease in prepayments (3,825) - -
(8,758) (7,272) (23,167)
5. Analysis of Net Debt
At 1 January At 30 June
2006 Cash flow 2006
# # #
Cash at bank and in hand 206,833 (5,696) 201,137
Bank overdrafts - - -
206,833 (5,696) 201,137
A copy of this interim financial report which does not constitute statutory
accounts for the Company, is being sent to all shareholders and further copies
are available from the Company's Registered Office at the address below:
9999 Plc, Third Floor, 3 College Approach, Greenwich, London SE10 9HY.
This information is provided by RNS
The company news service from the London Stock Exchange
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