Limitless Earth Regulatory News (LME)

31 October 2014 LIMITLESS EARTH PLC ("Limitless" or the "Company") UNAUDITED HALF-YEARLY RESULTS FOR THE SIX MONTHS ENDED 31 JULY 2014 The Company is pleased to announce its half-yearly result for the six months to31 July 2014. CHIEF EXECUTIVES' STATEMENT Limitless Earth plc was admitted on AIM on 12 May 2014 raising £3,005,000. Limitless is a proactive investment company that focuses on making investmentsin and assisting companies that show the potential to generate returns throughcapital appreciation. It is the view of directors to invest in small companieswhere there are clear routes to value appreciation, and, the companies areoperating in sectors with long term growth prospects that are driven bydemographic change. Examples of such sectors include Cleantech, Life Sciencesand Technology. The Board is focused on making sure it makes the right investment in the rightsector at the right time. It has looked carefully at more than twentyinvestment opportunities in the first months of operations and has engagedadvisers on one investment in the Life Sciences area where discussions withmanagement are ongoing. In the second half of the financial year, the Board will continue to payparticular attention to companies in Life Sciences arena including health &wellness and food supply companies, and, businesses that benefit from changingconsumption habits as a result of changing demographics and socio-economicfactors. The Board understands that cost control is important at all times andparticularly pre-investment. On behalf of the shareholders, the directorscarefully keep operating costs to a minimum to preserve shareholder value. For the period, Limitless made a net loss on operations of £175,806. Thisincluded the cost of the listing process, which was £168,000. The unauditedbalance sheet reflects the cash and cash equivalents at the reporting date of £2,841,954. The period under review covers two and a half months of trading on AIM. Thisinitial period has seen progress made in defining the initial investment focusareas and reviewing a number of available investment opportunities andmanagement teams. Limitless continues to develop its pipeline of possibleinvestments and is well placed to enter its investment phase which thedirectors look forward to with confidence. For further information, please contact: Limitless Earth plc www.limitlessearthplc.comDominic White +44 7972 000 093 Cairn Financial Advisers LLP +44 20 7148 7900Nominated Adviser www.cairnfin.comJo Turner/Liam Murray Global Investment Strategy Limited +44 20 7048 9400Joint Broker www.gisukltd.comJohn Gunn Peterhouse Corporate Finance Limited +44 20 7469 0930Joint Broker www.pcorpfin.comPeter Greensmith About LIMITLESS EARTH PLC Limitless Earth plc is a proactive investment company that focuses on makinginvestments in and assisting companies which exhibit the potential to generatereturns through capital appreciation. Limitless invests in small companieswhere there are clear catalysts for value appreciation and the companies areoperating in sectors exhibiting long term growth linked to demographic change.Examples of such sectors include Cleantech, Life Sciences and Technology. STATEMENT OF COMPREHENSIVE INCOME FOR THE PERIOD ENDED 31 JULY 2014 Notes Unaudited 31/07/2014 Continuing operations £ Administration expenses (175,806) Operating loss (175,806) Loss before taxation (175,806) Taxation - Loss for the financial position (175,806) Total Comprehensive income for the period (175,806) Loss attributable to: Equity Holders (175,806) Earnings per share: Basic loss per share 3 (0.0027) STATEMENT OF FINANCIAL POSITION Unaudited31 JULY 2014 31/07/2014 £ Current assets Trade and other receivables - Cash 2,841,954 2,841,954 Total Assets 2,841,954 Current Liabilities Trade and other payables (22,035) Net Assets 2,819,919 Equity Share Capital 601,000 Share Premium Account 2,394,725 Retained Earnings (175,806) Total Equity 2,819,919 CASH FLOW STATEMENT FOR THE PERIOD ENDED 31 JULY 2014 Unaudited 31/07/ 2014 £ Cash flows from operating activities Operating loss (175,806) Operating cash flows before movement in working capital (175,806) Decrease/(Increase) in receivables - Increase in payables 22,035 Cash expended by operations (153,771) Cash flows from financing activities Proceeds from issue of ordinary shares (net of expenses) 2,995,725 Net cash inflow from Financing activities 2,995,725 Net increase in cash 2,841,954 Cash at the beginning of period - Cash at the end of the period 2,841,954 STATEMENT OF CHANGES IN EQUITY FOR THE PERIOD ENDED 31 JULY 2014 Share capital Share Premium Retained Earnings Total £ £ £ £ Total Comprehensive income - - (175,806) (175,806) Issue of share capital 601,000 2,394,725 - 2,995,725 Balance at 31 July 2014 601,000 2,394,725 (175,806) 2,819,919 NOTES TO THE FINANCIAL STATEMENTS General Information Limitless Earth plc is a company incorporated and domiciled in England andWales. The Company's ordinary shares are traded on AIM of the London StockExchange. The address of the registered office is 30 Percy Street, London W1T2DB. The principal activity of the Company is that of an investment company pursuinga strategy that focuses on making investments in and assisting companies whichexhibit the potential to generate returns of many multiples through capitalappreciation. Typically, Limitless invests in small companies where there areclear catalysts for value appreciation and the companies are operating insectors exhibiting long term growth linked to demographic change. 2. Accounting policies The principal accounting policies are summarised below. They have all beenapplied consistently throughout the period covered by these financialstatements. Basis of preparation The interim financial information set out above does not constitute statutoryaccounts within the meaning of the Companies Act 2006. It has been prepared ona going concern basis in accordance with the recognition and measurementcriteria of International Financial Reporting Standards (IFRS) as adopted bythe European Union. The financial statements have been prepared under the historical costconvention. The interim financial information for the six months ended 31 July 2014 has notbeen reviewed or audited. The interim financial report has been approved by theBoard on 29 October 2014. As the Company was newly incorporated prior to Admission to AIM, the periodunder review represents the first period of trading for the Company. As such,no prior financial information exists for comparison. Critical accounting estimates The preparation of interim financial statements requires management to makeestimates and assumptions that affect the reported amounts of assets andliabilities at the end of the reporting period. 3. Loss per share The basic earnings per share is calculated by dividing the earningsattributable to ordinary shareholders by the weighted average number ofordinary shares outstanding during the period. Diluted earnings per share iscomputed using the same weighted average number of shares during the periodadjusted for the dilutive effect of share warrants and convertible loansoutstanding during the period. Unaudited 31/07/2014 The calculations of the basic and diluted earnings per share are based on the following: Loss for the year (175,806) Number of shares 65,400,000 Number of Warrants in issue 4,578,000 Fully diluted number of ordinary shares 69,978,000 Basic loss per share (pence per share) (0.0027) Diluted loss per share (pence per share) (0.0025) IAS 33 requires presentation of diluted earnings per share when a company couldbe called upon to issue shares that would decrease earnings per share orincrease net loss per share. For a loss making company with outstanding shareoptions and warrants, net loss per share would only be increased by theexercise of out-of-the money options and warrants. Since it seems inappropriatethat option holders would act irrationally, no adjustment has been made todiluted earnings per share for out-of-the money options and warrants in thecomparatives. There are no other diluting share issues.