RNS6 Jul 2013 08:16
The Board have considered and reviewed the current financial status and the cash-flow projections of the Group. Having completed this review and given consideration to the other factors detailed above, the Directors are of the opinion that there are adequate financial resources available to enable the Company and Group meet its obligations as they fall due for a period of at least 12 months from the date of approval of these financial statements. Accordingly, although the Group disposed of its last remaining investment property subsequent to the balance sheet date, the Group will continue in operational existence for the foreseeable future and the financial statements have therefore been prepared on a Going Concern basis.
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And on the contrary
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The Company was established in 2006 to invest in and develop a portfolio of high quality property assets spread across the Baltic States with a focus on prime office, residential and retail development and investment opportunities. As a matter of current record and fact the current Investment Policy is as defined in more detail below. However the Company's predominant assets and activities are cash and litigation against the former Board and advisers. With the completion of the sale of the last remaining property the Company would consider in fulfilment of its on-going obligation to AIM a revised investment policy. In the first instance the Board is however considering the de-listing of the shares which would pre-empt such a revised Investment policy statement and approval. In the event the listing is preserved the Board will propose a revised Investment Policy.
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Thus ,as expected ,the old bad BOD ,.will not cheekily buy out the new BOD for peanuts .
Within the next 12 months an apt payout will be ascribed .Cashew or Brazil ,you decide.
gla concerned @ The Met
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