Feedback Regulatory News (FDBK)

6 November 2013

Feedback plc

("Feedback" or "the Company")

Final Results for the year ended 31 May 2013

Chairman's Statement

The 2013 financial year proved to be a defining year for Feedback which resulted in the disposal of the Group's remaining operating business, Feedback Data plc ("Feedback Data"), and the Company being reclassified as an Investing Company under the AIM Rules.

As predicted when the half year results were announced, the restructuring of Feedback within the context of the strict cash constraints imposed over several years proved a very challenging environment. Feedback Data continued to experience reduced activity from key customers whilst the introduction of new products to the channel suffered a number of delays and setbacks.

Whilst there was always the prospect of a recovery in Feedback Data's markets, it remained illusive. Significant steps were taken to reduce overhead and minimise costs but the lack of an immediate and wholesale turnaround in Feedback Data still left the Company without critical mass and generating significant losses. In the board's view this was an unsustainable position.

Following a detailed review of the investment necessary to return the company to profitability the Board examined its strategic options and concluded that the disposal of Feedback Data was the best route to secure value for shareholders. After considering a number of alternative approaches the Company agreed, and sought shareholder approval for, the disposal of Feedback Data to Belgravium Technologies plc. The transaction was concluded on 31 May 2013 for a cash consideration of £600,000 that was used to repay bank debt and for working capital purposes.

Following the year end the Group also completed the disposal of its former head office in Crowborough to Orbit South Housing Association Limited for a cash consideration of £940,000. This sale was approved by shareholders and was completed on 30 July 2013.

Following completion of the disposal of Feedback Data and the property the Company now has one employee (being the executive Director) and approximately £700,000 of cash.

The disposal of the trading businesses and its former head office means, under Rule 15 of the AIM Rules, the company was reclassified as an Investing Company and adopted the Investing Policy which was approved by Shareholders in May 2013. The Company has a technology focussed investing policy and is actively seeking opportunities in this sector.

The Board has reviewed several opportunities and continues to pursue others. It will update the market as appropriate.

Nick Shepheard

Chairman

Consolidated Statement of Comprehensive Income

for the year ended 31 May 2013

Consolidated Statement of Changes in Equity

for the year ended 31 May 2013

Consolidated Balance Sheet

at 31 May 2013

Consolidated Cash Flow Statement

for the year ended 31 May 2013

1. ACCOUNTING POLICIES

Basis of preparation

These financial statements have been prepared in accordance with those IFRS standards and IFRIC interpretations issued and effective or issued and early adopted as at the time of preparing these statements (November 2013). The accounting policies have been consistently applied to all the years presented.

These consolidated financial statements have been prepared under the historical cost convention.

During the period the group disposed of its subsidiary Feedback Data plc, in the previous period the group disposed of its subsidiaries Feedback Instruments Limited and Feedback Inc. Subsequent to the year end disposed of its property (held by Brickshield Limited). For these reasons the results of these subsidiaries have been disclosed as discontinued and the property classified 'as held for sale'.

The financial information set out above does not comprise the Company's statutory accounts for the periods ended 31 May 2013 or 31 May 2012. Statutory accounts for 31 May 2012 have been delivered to the Registrar of Companies and those for 31 May 2013 will be delivered following the Company's Annual General Meeting. The auditors have reported on those accounts; their report was unqualified and did not contain statements under section 498(2) or (3) of the Companies Act 2006 in respect of the accounts for 2012 or for 2011.

2. GOING CONCERN

The Group disposed of Feedback Data plc during the year and subsequent to the year end disposed of its investment property for £940,000. The company become an investment company following the disposal of Feedback Data plc.

The Directors have produced forecasts which show that the company has adequate cash resources for at least the next twelve months from the date of this report. However, to achieve significant investments in the future it may be necessary to raise further capital. The Directors believe that the company is a going concern and has therefore prepared the financial statements on a going concern basis

3. SEGMENTAL REPORTING

The Directors have determined the operating segments based on the management reports that are used to make strategic decisions. The Group's business was analysed below between the Instruments segment and the Data segment. The Instruments segment primarily related to the former subsidiary companies Feedback Instruments plc and Feedback Incorporated which were disposed of last year.

The Data segment relates to the subsidiary company Feedback Data plc which was disposed of on 31 May 2013. Details of these companies are included in the Directors' Report.

On the 30 May 2013 the group disposed of its Data business (see Note 12). The results therefore include the results of the Data business for the full year to 31 May 2013.

On the 23 May 2012 the group disposed of its Instruments business. For this reason the results shown below disclose the results of the Instruments business for the period to 23 May 2012.

Reported segments' assets are reconciled to total assets as follows:

Reported segments' assets are reconciled to total assets as follows:

4. OTHER OPERATING EXPENSES

5. LOSS PER SHARE

Basic earnings per share is calculated by reference to the loss on ordinary activities after taxation of £348,000 (2012: £1,819,000) and on the weighted average of 130,949,746 (2012: 123,679,889) shares in issue.

6. ASSETS HELD FOR SALE

Reclassification: As at 31 May 2012 the group was actively seeking to dispose of its property. The asset has therefore been reclassified as held for sale. Subsequent to the 31 May 2013 the property was sold for £940,000 and therefore a further impairment charge of £110,000 has been made in the year.

7. PROPERTY, PLANT AND EQUIPMENT

8. INTANGIBLE ASSETS

9. OTHER PAYABLES

Included within other payables is a loan and interest thereon from a company connected to a shareholder of £345,000 (2012 £101,000). The loan attracted interest at 12% per annum and was secured on the group's property. The loan was repayable within 6 months and was fully repaid on 31 July 2013 following the sale on the property.

10. POST BALANCE SHEET EVENTS

On 31 July 3013 the company's subsidiary Brickshield Limited sold its property for £940,000.

11. PUBLICATION OF ANNOUNCEMENT AND REPORT AND ACCOUNTS

A copy of this announcement will be available at the Company's registered office (Maple Barn, Beeches Farm Road, Uckfield, East Sussex TN22 5QD) and on its website - www.fbk.com.

This announcement is not being sent to shareholders. The Annual Report will be posted to shareholders shortly and will be made available on the website.

For further information contact: