Northwest Investment Group Regulatory News (NWIG)

  29 September 2015

NORTHWEST INVESTMENT GROUP Ltd.

1500784

INCORPORATED IN THE BRITISH VIRGIN ISLANDS

UNAUDITED INTERIM FINANCIAL STATEMENT

FOR THE 6 MONTHS ENDED 30 JUNE 2015

Northwest Investment Group Ltd. ("NWIG" or the "Company) today announces its un-audited Interim Results for the period from Jan. 1, 2015 to June 30, 2015.

A copy of the Interim Report will also be available on the Company's website shortly (http://www.northwestinv.com)

Contact Details:

CHAIRMAN'S STATEMENT

On 9 June 2010, Northwest Investment Group Ltd. ("NWIG" or "the Company") raised £3 million from investors and was successfully admitted to trading on the AIM market of the London Stock Exchange.

During the first half of 2015, we closely examined more than three projects for possible investment and as part of this, in early 2015, we started a due diligence exercise on one particular energy project. However negotiations over this project were suspended due to communication issues encountered in the preparation of documentation. At the same time, there was a strong performance in the Chinese stock market in the first half of 2015, which weakened the motivation of two hydropower companies which had been exploring the possibility of raising money on the London Stock Exchange through a combination with the Company. Despite these continued setbacks, the board continues its endeavours to select and search for high-quality assets to be injected into NWIG.

At the Company's annual general meeting held on 20 July 2015, shareholders approved the Company's Investing Policy in preference to a potential liquidation.

Li Kaifeng

Chairman

For and on behalf of the Board of

Northwest Investment Group Ltd.

29 September 2015

STATEMENT OF COMPREHENSIVE INCOME

#denotes a figure which is less than £0.01

STATEMENT OF FINANCIAL POSITION

STATEMENT OF CHANGES IN EQUITY

CASH FLOW STATEMENT

NOTES TO THE INTERIM FINANCIAL STATEMENTS

1 GENERAL INFORMATION

Northwest Investment Group Limited is a company incorporated in British Virgin Islands on 26 August 2008 under The BVI Business Companies Act 2004. The company has been established for the purpose of identifying and acquiring, or investing in, energy projects with an initial focus on Western China. The address of the registered office is Sea Meadow House, Blackburne Highway, P. O. Box 116, Road Town, Tortola, British Virgin Islands.

The interim financial statements are presented in Pound Sterling.

The Company's Ordinary shares are traded on AIM, a market operated by the London Stock Exchange.

2 SUMMARY OF SIGNIFICANT ACCOUTING POLICIES

2.1 Statement of compliance 

The interim financial statements are for the six months ended 30 June 2015. They have been prepared in accordance with IAS34 Interim Financial Reporting.  They do not include all of the information required in annual financial statements in accordance with IFRS, and should be read in conjunction with the financial statements of for the year ended 31 December 2014.

2.2 Basis of preparation

These interim financial statements have been prepared in accordance with the accounting policies adopted in the last annual financial statements for the year ended to 31 December 2014 and those to be used for the year ending 31 December 2015.

The unaudited interim financial statement for the six months period ended 30 June 2015 do not constitute statutory accounts and have been drawn up using according polices and presentation expected to be adopted in the Company financial statement for the financial period ended 31 December 2014, which are not expected to be significantly different to those set out in note 2 to the Company audited financial statements for the period ended 31 December 2014.

These interim financial statements have been approved for issue by the Board of Directors on September [29], 2015.

3 CASH AND CASH EQUIVALENTS

Bank balances comprise cash held by the Company and short-term bank deposits with an original maturity of three months or less. The carrying amount of these assets approximates their fair value.

4 TRADE AND OTHER PAYABLES

The directors consider that the carrying amount of trade payables approximates to their fair value.

5 SHARE CAPITAL

The total authorised number of ordinary shares is 1 billion shares (2009: 1 billion shares) with par value of £0.05 per share (2009: £0.05 per share). All issued shares are fully paid.

On 16 March 2010, by written resolution, the company allotted additional 800,000 ordinary shares of £0.05 each with an aggregate nominal value of £40,000 for a total consideration of £200,000 fully paid.

On 3 June 2010, by written resolution, the company allotted an additional 12,000,000 ordinary shares of £0.05 each with an aggregate nominal value of £600,000 for a total consideration of £3,000,000 fully paid.

On 9 June 2010, the company's enlarged share capital was admitted to trading on AIM, a market operated by the London Stock Exchange.

On 1 December 2010, by written resolution, the company allotted 100,000 ordinary shares of £0.05 each with aggregate nominal value of £5,000 for a total consideration of £40,000, fully paid in January 2011.

On 8 June 2011, the Company authorize the sub-division of each of the ordinary shares of £0.05 each into 10 new ordinary shares of £0.005 each.

6 NOTES TO THE CASH FLOW STATEMENT

7 Expenses by nature

8 Employee benefit expenses

9 EARNING PER SHARE

The calculation of the basic earning per share is based on the profits attributable to ordinary shareholders divided by the weighted average number of shares in issue during the period.

The calculation of diluted earning per share is based on the basic earning per share, adjusted to allow for the issue of shares and the post tax effect of dividends and/or interest, on the assumed conversion of all dilutive options and other dilutive potential ordinary shares.

Reconciliation of the earning and weighted average number of share used in the calculations are set out below.

# denotes a figure which is less than £0.01

There are not potentially dilutive shares in issue.