Last checked at 9 Dec 2011 15:40
Shellproof Limited announces unaudited interim results for the 6 months ended 30 September 2011
Belize City, Belize, 9 December 2011 - Shellproof Limited (London-AIM: SHLP) ("Shellproof" or the "Company").
The Company was established in 2008 as a cash-shell entity.
It has continued to search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellproof management team.
Recently, the Company has made a small exploratory investment in the business of high quality sparkling wine production. A UK subsidiary has been established and the Company plans to incur up to approximately £350,000 of expenditures in connection with this investment.
The Board notes that, as of the date of this announcement, the shares of Shellproof trade on AIM at an approximate 20% discount to the Company's net asset value.
The Company reports a net profit of ₤7,000 for the six months ended 30 September 2011 (2010 - ₤53,000). Basic and diluted earnings per ordinary share for the six months ended 30 September 2011 amounted to 0.09 pence (2010 - 0.66 pence).
For further information contact:
Shellproof Limited
Belize +501 223 5989
UK +44 (0)20 7248 6700
Note: This and other press releases are available at the Company's web site: http://www.shellprooflimited.com.
Shellproof Limited | ||
Summarised income statement | ||
6 months ended 30 September | 2011 | 2010 |
₤000 | ₤000 | |
Interest income | 72 | 84 |
Administrative expenses | (65) | (31) |
Net profit before and after taxation | 7 | 53 |
Earnings per ordinary share (basic and diluted) (in pence) | 0.09 | 0.66 |
Shellproof Limited | ||
Summarised balance sheet (unaudited) | 30 September 2011 | 31 March 2011 |
₤000 | ₤000 | |
Fixed assets | 73 | |
Current assets | ||
Cash and cash equivalents | 4,235 | 4,257 |
Other current assets | 10 | 19 |
Total assets | 4,318 | 4,276 |
Current liabilities | ||
Other payables | (49) | (14) |
Net assets | 4,269 | 4,262 |
Shareholders' equity | ₤000 | ₤000 |
Share capital | 4,000 | 4,000 |
Retained earnings | 269 | 262 |
Total shareholders' equity | 4,269 | 4,262 |
Shellproof Limited | ||
Summarised statement of cash flows (unaudited) | ||
6 months ended 30 September | 2010 | 2009 |
₤000 | ₤000 | |
Net cash generated from operating activities | 51 | 72 |
Purchase of fixed assets | (73) | 0 |
Net (decrease) increase in cash for the period | (22) | 72 |
Cash at beginning of period | 4,257 | 4,156 |
Cash at end of period | 4,235 | 4,228 |
-ENDS-