Doriemus Regulatory News (DOR)

11 September 2013 Doriemus PLC Half-yearly results for the six month period ended 30 June 2013 Chairman's Statement I am pleased to report the unaudited results of the Company for the six monthperiod ended 30 June 2013. Total revenue for the period was £113,000 (six monthperiod ended 30 June 2012: £521,000), of which licence fee income amounted to £100,000 (six month period ended 30 June 2012: £500,000). The Company incurred aloss from operations of £49,000, compared to a profit from operations of £374,000 in the same period last year. The loss before and after taxation was £47,000, compared to a profit before and after taxation of £377,000 in the firstsix months of last year. The market demand for traded endowment policies still remains extremelydepressed but the Company continues to work closely with market makers inanticipation of increasing demand for policies. The directors are continuing tomaintain strong controls over the Company's cost base and are also exploringopportunities to generate additional income. The uncertainty surrounding the future demand and supply of traded endowmentpolicies resulted in the Board considering the strategic direction of theCompany. As a consequence of the strategic review by the Board, three newDirectors were appointed simultaneously with the recapitalisation of theCompany together with the adoption by the Board of the new investment policy.The new investing policy was set out in detail in the circular issued by theCompany on 21 February 2013 whereby the Company would be able to maintain itsinterest in the TEP business but also seek to maximise shareholder value bydrawing on the experience and expertise of the three new Directors inidentifying accretive opportunities. In line with the new investing policy the Company changed its name to DoriemusPlc on 16 July 2013. On 21 February 2013 the Company announced that an interim dividend for the 2013accounting period of 0.02p per share would be paid to shareholders on 12 April2013 and the dividend was duly paid. Don Strang Chairman 11 September 2013 For further information please contact: Doriemus plc David Roxburgh 00 353 87 2431665 Sanlam Securities UK Limited Simon Clements/Virginia Bull 020 7628 2200 Consolidated Statement of Comprehensive Income for the six months ended 30 June 2013 Six months Six months Year ended ended ended 30 June 30 June 31 December 2013 2012 2012 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Revenue 113 521 916 Administrative expenses (162) (147) (334) (Loss) / profit from operations (49) 374 582 Finance income 2 3 9 (Loss) / profit before income tax (47) 377 591 Income tax expense - - - (Loss) / profit attributable to the (47) 377 591owners of the parent and totalcomprehensive (expense) / income forthe period (Loss) / earnings per share (Note 3) Basic (loss) / earnings per share (0.002)p 0.044p 0.070p Diluted (loss) / earnings per share (0.002)p 0.044p 0.054p Consolidated Statement of Changes in Equity for the six months ended 30 June 2013 Attributable to equity holders of theCompany Share Share Accumulated Total Capital Premium Profit Equity (unaudited) (unaudited) (unaudited) (unaudited) £'000 £'000 £'000 £'000 At 1 January 2012 2,267 4,033 (6,277) 23 Profit and total - - 377 377comprehensive income for theperiod At 30 June 2012 2,267 4,033 (5,900) 400 Profit and total - - 214 214comprehensive income for theperiod Capital reduction and (2,258) (4,033) 6,291 -cancellation of sharepremium Dividends on ordinary shares - - (255) (255)declared and paid At 31 December 2012 9 - 350 359 Loss and total comprehensive - - (47) (47)expense for the period Shares issued in period 21 191 - 212 Dividends on ordinary shares - - (296) (296)declared and paid At 30 June 2013 30 191 7 228 Share capital is the amount subscribed for ordinary shares at nominal value. Share premium represents the excess of the amount subscribed for share capitalover the nominal value of the shares net of share issue expenses. Accumulated profits represent cumulative profits of the Company and itssubsidiaries (together the "Group") attributable to equity shareholders. Consolidated Statement of Financial Position as at 30 June 2013 As at As at As at 30 June 30 June 31 December 2013 2012 2012 (unaudited) (unaudited) (audited) £'000 £'000 £'000 ASSETS Current assets Inventories - 3 - Trade and other receivables 43 448 427 Cash and cash equivalents 310 398 81 Total current assets 353 849 508 TOTAL ASSETS 353 849 508 LIABILITIES Current liabilities Borrowings - - - Trade and other payables (125) (449) (149) Total current liabilities (125) (449) (149) Non-current liabilities Borrowings - - - Total non-current liabilities - - - TOTAL LIABILITIES (125) (449) (149) NET ASSETS 228 400 359 Equity attributable to equity holders ofthe parent Share capital 30 2,267 9 Share premium reserve 191 4,033 - Accumulated profits / (losses) 7 (5,900) 350 TOTAL EQUITY 228 400 359 Consolidated Statement of Cash Flows for the six months ended 30 June 2013 Six months Six months Year ended ended ended 30 June 30 June 31 December 2013 2012 2012 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Cash flows from operating activities Operating (loss) / profit (47) 377 591 Decrease in inventories - - 3 Decrease / (increase) in trade and other 384 (297) (276)receivables (Decrease) / increase in trade and other (24) 244 (56)payable Cash generated by operating activities 313 324 262 Cash flows from financing activities Proceeds from issuance of ordinary shares 212 - - Dividends paid to owners of the parent (296) - (255) Net increase in cash and cash equivalents 229 324 7 Cash and cash equivalents at beginning of 81 74 74period Cash and cash equivalents at end of period 310 398 81 Cash and cash equivalents comprise: Cash available on demand 310 398 81 Notes to the half-yearly results 1. Basis of preparation As permitted IAS 34, `Interim Financial Reporting' has not been applied tothese half-yearly results. The financial information of the Group for the sixmonths ended 30 June 2013 have been prepared in accordance with the recognitionand measurement principles of International Financial Reporting Standards,International Accounting Standards and Interpretations (collectively "IFRS")issued by the International Accounting Standards Board ("IASB") as adopted bythe European Union ("adopted IFRS") and are in accordance with IFRS as issuedby the IASB. The condensed interim financial information has been preparedusing the accounting policies which will be applied in the Group's statutoryfinancial statements for the year ending 31 December 2013. The financial information shown in this publication is unaudited and does notconstitute statutory accounts as defined in Section 434 of the Companies Act2006. The comparative figures for the financial year ended 31 December 2012have been derived from the statutory accounts for 2012. The statutory accountshave been delivered to the Registrar of Companies. The auditors have reportedon those accounts; their report was unqualified and did not contain statementsunder the section 498(2) or 498(3) of the Companies Act 2006. 2. Dividends June June December 2013 2012 2012 £`000 £'000 £'000 Interim dividend (296) - (255) 3. (Loss) / earnings per share The calculation of the basic and diluted (loss) / earnings per share is basedupon June June December 2013 2012 2012 Basic (loss) / earnings per share (0.002)p 0.044p 0.070p(pence) Diluted (loss) / earnings per (0.002)p 0.044p 0.054pshare (pence) (Loss) / profit attributable to £(47,000) £377,000 £591,000equity shareholders Weighted average number of shares 2,016,795,578 849,999,999 849,999,999basic Weighted average number of shares 2,016,795,578 849,999,999 1,100,273,972diluted 4. Availability of the Interim Report Copies of the report will be available from the Company's registered office andalso from the Company's website www.doriemus.co.uk