Doriemus Regulatory News (DOR)

5 Nov 2012 07:00

5 November 2012 TEP Exchange Group PLC ("TEP" or "the Company")

Parent company's interim financial statements for the eight months period ended

31 August 2012

The Company announces that the parent company's interim financial statements for the eight month period ended 31 August 2012, which relate only to TEP itself and not to the TEP Group, are being submitted today for filing with the Registrar of Companies as required by section 838 (6) of the Companies Act 2006. The statements have been prepared so that dividends which are expected to become payable between now and the publication of the TEP Group annual report in respect of the 2012 accounting period may be paid in compliance with section 836 (2) (a) of the Companies Act 2006.

For further information please contact:

TEP Exchange Group plc David Roxburgh 00 353 87 2431665 Merchant Securities Limited Simon Clements/Virginia Bull 020 7628 2200

Statement of Comprehensive Income

for the eight months ended 31 August 2012

Eight months Ended 31 August 2012 (unaudited) Notes £ Revenue 2 2,166,766 Administrative expenses (92,289) Profit from operations 2,074,477 Finance income 3 5,365 Profit before income tax 2,079,842 Income tax expense 4 - Profit attributable to the owners of the 2,079,842parent and total comprehensive income for the period

Statement of Changes in Equity

for the eight months ended 31 August 2012

Attributable to equity holders of the Company Share Share Accumulated Total Capital Premium Profit Equity (unaudited) (unaudited) (unaudited) (unaudited) £'000 £'000 £'000 £'000 At 1 January 2012 2,267,480 4,032,678 (7,912,654) (1,612,496) Total comprehensive income - - 2,079,842 2,079,842for the period Capital reduction and (2,258,980) (4,032,678) 6,291,658 -cancellation of premium At 31 August 2012 8,500 - 458,846 467,346

Statement of Financial Position

as at 31 August 2012 Notes As at 31 August 2012 (unaudited) £'000 ASSETS Non-current assets Investments subsidiary undertakings 100,006 100,006 Current assets Inventories - Trade and other receivables 7 612,616 Cash and cash equivalents 240,675 Total current assets 853,291 TOTAL ASSETS 953,297 LIABILITIES Current liabilities Borrowings - Trade and other payables 8 (485,951) Total current liabilities (485,951) Non-current liabilities Borrowings - Total non-current liabilities - TOTAL LIABILITIES (485,951) NET ASSETS 467,346 Equity attributable to equity holders of the parent Share capital 8,500 Share premium reserve - Accumulated profit 458,846 TOTAL EQUITY 467,346Statement of Cash Flows

for the eight months ended 31 August 2012

Eight months ended 31 August 2012 (unaudited) £'000 Cash flows from operating activities Operating profit 2,079,842 Increase in trade and other receivables (316,510) Decrease in trade and other payable (1,584,959) Cash generated by operating activities 178,373 Cash flows from financing activities Decrease in borrowings - Issue of ordinary share capital - Net increase in cash and cash equivalents 178,373 Cash and cash equivalents at beginning of 62,302period Cash and cash equivalents at end of period 240,675 Cash and cash equivalents comprise: Cash available on demand 240,675

Notes forming part of the interim financial statements

1. Basis of preparation

The financial statements of the Company for the eight months ended 31 August 2012 have been prepared in accordance with the recognition and measurement principles of International Financial Reporting Standards, International Accounting Standards and EU adopted IFRICs (collectively "IFRS") issued by the International Accounting Standards Board ("IASB") as adopted by the European Union ("adopted IFRS"). The condensed interim financial statements have been prepared using the accounting policies which will be applied in the Group's statutory financial statements for the year ending 31 December 2012.

2. Revenue

The Company's revenue is generated in the United Kingdom from the licensing ofthe proprietary electronic platform together with the dividends received fromsubsidiary undertakings.3. Finance income 31 August 2012 £ Interest receivable on loans 5,3654.Income tax expenseNo liability to corporation tax arises on the results for the period due to theutilisation of losses brought forward together with dividends received notbeing taxable. 31 August 2012 £

Profit on ordinary activities before income tax 2,079,842

Profit on ordinary activities before income tax 528,280multiplied by the standard rate of U.K. corporation tax of 25.4% Non-taxable income (381,000) Utilisation of tax losses (147,280) Current period income tax charge -

5.Dividends

No dividend is proposed for the eight months ended 31 August 2012.

6.Capital reduction and cancellation of share premium

On 13 July 2012 the Company's shareholders passed the special resolution to reduce its share capital and cancel its share premium account. The passing of the special resolution was subject to Court approval and this was obtained on 8 August 2012.

The statement of changes in equity on page 3 of these interim financial statements reflects the accounting impact of the reduction in the Company's share capital and cancellation of the share premium account.

7.Trade and other receivables

31 August 2012 £ Trade receivables - Amount due from subsidiary undertakings 150,050 Loan receivable 450,000 Other receivables 4,785 Prepayments and accrues income 7,781 612,6168.Trade and other payables 31 August 2012 £ Trade payables 48,616 Other payables 3,500 Amounts due to subsidiary undertakings 278,259 Creditors for taxation and social security 53,293 Accrued liabilities and deferred income 102,283 485,951