Adams Regulatory News (ADA)

ADAMS PLC

INTERIM RESULTS FOR THE 6 MONTH PERIOD TO 30 SEPTEMBER 2013

Chairman's Statement

We have pleasure in presenting the interim accounts for the six month period ended 30th September 2013. Indeed, this is the first actual period since the restructuring and change of direction which came about last March.

You will notice that the financial statements below are presented without the customary period to period comparative numbers. AIM Regulation granted the Company a derogation on this matter given the irrelevance of the first half period last year which was, in effect, reporting on a completely different company.

During our first half period, whilst protecting the integrity of the shell company, the Board has examined a range of possible reverse takeover candidates. Britain is alive with opportunities within our target sectors of technology and life sciences and it is a matter of identifying a candidate which fulfils our investment criteria. Full details of the Company's investing policy are available on the Company's website www.adamsplc.co.uk.

We look forward to the coming months and will keep shareholders apprised as the need arises.

N C P Nelson

Chairman

STATEMENT OF COMPREHENSIVE INCOME

FOR THE 6 MONTH PERIOD TO 30 SEPTEMBER 2013

Since there is no other comprehensive loss, the loss for the period is the same as the total comprehensive loss for the period attributable to the owners of the Company.

The accompanying accounting policies and explanatory notes form an integral part of the financial statements .

STATEMENT OF FINANCIAL POSITION

AS AT 30 SEPTEMBER 2013

STATEMENT OF CHANGES IN EQUITY

FOR THE PERIOD ENDED 30 SEPTEMBER 2013

Share capital is the amount subscribed for shares at nominal value.

Share premium represents the excess of the amount subscribed for share capital over the nominal value of these shares net of share issue expenses.

Retained losses represent the cumulative loss of the Company attributable to equity shareholders.

STATEMENT OF CASH FLOWS

FOR THE PERIOD ENDED 30 SEPTEMBER 2013

The accompanying accounting policies and explanatory notes form an integral part of the financial statements.

NOTES TO THE FINANCIAL STATEMENTS

FOR THE 6 MONTH PERIOD TO 30 SEPTEMBER 2013

1 General information

Adams PLC is a company incorporated in the Isle of Man. The address of the registered office is disclosed on the company information page at the front of the annual report. The principal activities of the Company are described in the directors' report.

2 Going concern

The financial statements have been prepared on a going concern basis, the validity of which is dependent upon the continuing support of the shareholders, this support will enable the company to continue for the foreseeable future.

The financial statements do not include any adjustments that would result if the above support was withdrawn.

The principal accounting policies applied in the preparation of these financial statements are set out below.

3 Significant accounting policies

The interim report for the 6 months ended 30 September 2013 is unaudited and has been prepared on the accounting policies set out in the statutory accounts for the year ended 31 March 2013.

4 Investments 30-Sep-13

5 Trade and other receivables

The carrying amount of other current assets approximates to its fair value.

6 Cash and cash equivalents

For the purposes of the Statement of Cash Flows, cash and cash equivalents include cash at banks and on hand and deposits with banks. Cash and cash equivalents at the end of the reporting period as shown in the Statement of Cash Flows can be reconciled to the related items in the Statement of Financial Position as follows:

The carrying amount of cash and cash equivalents approximates to its fair value.

7 Trade and other payables

Accruals principally comprise amounts outstanding for ongoing expenses. The carrying amount of other payables approximates to its fair value.

8 Share capital and share premium

9 Loss per share