OCT.L Regulatory News (OCT)

16 December 2014 Octagonal PLC ("Octagonal" or the "Company) Unaudited results for the six month period ended 30 September 2014 Octagonal Plc announces its interim results for the six months ended 30September 2014. Overview Octagonal Plc has a strong balance sheet with no debt and current assetsincluding cash as at 30 September 2014 amounting to £356,000. This has been a period of considerable change for the Company. Aftersignificant work from the directors and its advisers, the Company hasre-emerged as Octagonal Plc ("Octagonal") with a specific focus on acquiringinterests in valuable project opportunities whereby returns can be achieved andwith potential for growth. The board has raised approximately £1.5 million tostrengthen the Company's balance sheet and provide funds that are to beinvested in accordance with the Company's investing policy. The Company hasmade 2 new strategic investments. On 1 October 2014, the Company announced it had substantially implemented itsinvesting policy in accordance with Rule 15 of the AIM Rules for Companies. On 7 November 2014, the Company announce that it had raised £500,000 throughthe subscription for 166,666,667 new ordinary shares of 0.05 pence each in theCompany (the "Subscription Shares") at a price of 0.30 pence per SubscriptionShare by existing shareholders and new investors. Investments On 10 April 2014, the Company announced that it had completed the acquisitionof a 9.97% interest in Global Investment Strategy UK Limited ("GIS") which is aLondon headquartered financial services company trading in the Global Markets,including equities, fixed income, commodities, currency and futures, using itsproprietary online trading platforms and clearing and safe custody systems. GIS's global settlement and safe custody clearing business alone transacts forover 300 global hedge funds and family wealth offices. GIS manage on averageover 6,000 transactions per month with monthly settlement values exceeding £400million on behalf of global institutional accounts. GIS is a London StockExchange member firm and is regulated by the FCA. GIS offer a broad scope of settlement, custody, banking, broking and advisoryservices to professional, retail, corporate and eligible counterparty clients.GIS have over 100 counterparty relationships including most of the major localand international investments banks transacting in the UK. In addition to itscore business of global settlement and custodial settlement services, GIS hasan Investment Management Division, managing funds for both domestic andoverseas clients on a discretionary basis. On 30 September 2014, the Company announced that it had acquired, on-market, a3.05% interest in Hume Capital plc, a boutique London Stockbroker admitted totrading on AIM. On 1 October 2014, the Company announced it had invested approximately £60,000in various quoted financial services businesses in accordance with theCompany's stated investing policy. Directors On 5 June 2014, David Lenigas joined the board as a non-executive director andDan Maling stepped down from the board. On 16 July 2014, Jason Berry joined theboard as an executive director. Results for the period During the period, the Group made a loss before taxation of £170,000 (6 monthsended 30 September 2013: £38,000 loss; 12 months ended 31 March 2014: £188,000). There was a weighted loss per share of 0.02p (30 September 2013: lossper share 0.01p, 31 March 2014: loss per share 0.08p). Current assets including cash at 30 September 2014 amounted to £356,000 (30September 2013: £74,000; 31 March 2014: £1,337,000). Outlook The Board is confident that the investments made by the Company are bothencouraging and potentially rewarding. We will look to realise this potentialover the future years in addition to continuing to review other investmentopportunities. We believe the Company is now well placed to move forward and to enhance futureshareholder value. The Board would like to take this opportunity to thank all our shareholders fortheir continued support. Donald StrangChairman 16 December 2014 For further information please contact: Octagonal plc +44 (0) 20 7440 0640Donald Strang/Jason Berry Cairn Financial Advisers LLP +44 (0) 20 7148 7900Nominated Adviser and BrokerJames Caithie/Avi Robinson Square 1 Consulting (Public Relations) +44 (0) 20 7929 5599David Bick/Mark Longson Income Statement (Unaudited)for the six months ended 30 September 2014 Notes Six months Six months Year ended ended ended 30 30 31 September September March 2014 2013 2014 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Turnover - - - Administration costs (120) (63) (133) Loans to subsidiaries recovered - 25 29 Share based payment charge (50) - (84) Total administrative costs (170) (38) (188) Operating loss (170) (38) (188) Finance revenue - - - Loss before taxation (170) (38) (188) Taxation - - - Retained loss for the financial period (170) (38) (188) Loss per ordinary share Basic and diluted loss per share (0.02) (0.01) (0.08)(pence) There were no other comprehensive gains or losses, other than the retainedlosses for the financial periods. Statement of Financial Position (Unaudited)as at 30 September 2014 As at As at As at 30 30 31 September September March 2014 2013 2014 (unaudited) (unaudited) (audited) £'000 £'000 £'000 ASSETS Non-current assets Available for sale investments 947 - 100 Total non-current assets 947 - 100 Current assets Trade and other receivables 264 36 24 Cash and cash equivalents 92 38 1,313 Total current assets 356 74 1,337 TOTAL ASSETS 1,303 74 1,437 LIABILITIES Current liabilities Trade and other payables (12) (186) (136) Total current liabilities (12) (186) (136) TOTAL LIABILITIES (12) (186) (136) NET ASSETS 1,291 (112) 1,301 Equity attributable to equity holders ofthe parent Share capital 692 309 640 Share premium 1,206 - 1,148 Share based payment reserve 39 - 84 Retained earnings (646) (421) (571) TOTAL EQUITY 1,291 (112) 1,301 Statement of Changes In Equity (Unaudited)for the six months ended 30 September 2014 Share Share Share Retained Total capital premium Based earnings equity Payment Reserve £'000 £'000 £'000 £'000 £'000 Balance at 31 309 - - (383) (74)March 2013 Transactions withowners Shares issued - - - - - Share issue costs - - - - - Total transactions - - - - -with owners Loss & total - - - (38) (38)comprehensiveincome for theyear Balance at 30 309 - - (421) (112)September 2013 Balance at 31 309 - - (383) (74)March 2013 Transactions withowners Shares issued 331 1,160 - - 1,491 Share issue costs - (12) - - (12) Share based - - 84 - 84payment charge Total transactions 331 1,148 84 - 1,563with owners Loss & total - - - (188) (188)comprehensiveincome for theyear Balance at 31 640 1,148 84 (571) 1,301March 2014 Balance at 31 640 1,148 84 (571) 1,301March 2014 Transactions withowners Shares issued 52 79 - - 131 Share issue costs - (21) - - (21) Share based - - 50 - 50payment charge Share based - - (95) 95 -payment charge Total transactions 52 58 (45) 95 160with owners Loss & total - - - (170) (170)comprehensiveincome for theyear Balance at 30 692 1,206 39 (646) 1,291September 2014 Statement of Cash Flows (Unaudited)for the six months ended 30 September 2014 Six months Six months Year ended ended ended 30 September 30 September 31 March 2014 2013 2014 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Cash flows from operating activities Operating (loss) (170) (38) (188) (Increase) in trade and other receivables (240) (25) (13) (Decrease)/ increase in trade and other (124) 65 (65)payable Share based payment charge 50 - 84 Cash generated by operating activities (484) 2 (182) Cash flows from investing activities Finance revenue - - - Payments to acquire AFS assets (847) - - Net cash outflow from investing activities (847) - - Cash flows from financing activities Proceeds from issuance of ordinary shares 131 - 1,471 Share issue costs (21) - (12) Net cash inflow from financing activities 110 - 1,459 Net increase in cash and cash equivalents (1,221) 2 1,277 Cash and cash equivalents at beginning of 1,313 36 36period Cash and cash equivalents at end of period 92 38 1,313 Notes to the half-yearly results 1. Basis of preparation As permitted IAS 34, `Interim Financial Reporting' has not been applied tothese half-yearly results. The financial information of the Company for the sixmonths ended 30 September 2014 have been prepared in accordance with therecognition and measurement principles of International Financial ReportingStandards, International Accounting Standards and Interpretations (collectively"IFRS") issued by the International Accounting Standards Board ("IASB") asadopted by the European Union ("adopted IFRS") and are in accordance with IFRSas issued by the IASB. The condensed interim financial information has beenprepared using the accounting policies which will be applied in the Company'sstatutory financial statements for the year ending 31 March 2014. The financial information shown in this publication is unaudited and does notconstitute statutory accounts as defined in Section 434 of the Companies Act2006. The comparative figures for the financial year ended 31 March 2014 havebeen derived from the statutory accounts for 2014. The statutory accounts havebeen delivered to the Registrar of Companies. The auditors have reported onthose accounts; their report was unqualified and did not contain statementsunder the section 498(2) or 498(3) of the Companies Act 2006. 2. (Loss) per share The calculation of the basic and diluted (loss) per share is based upon Six months Six months Year ended ended ended 30 September 30 September 31 March 2014 2013 2014 £'000 £'000 £'000 (Loss) attributable to ordinary (170) (38) (188)shareholders Number Number Number Weighted average number of 733,418,467 694,692,433 227,895,130ordinary shares for calculatingbasic loss per share Pence Pence Pence Basic and diluted loss per share (0.02) (0.01) (0.08) Note: the EPS for the year ended 31 March 2014, has taken account of theCapital re-organisation which occurred on 25 November 2013. 3. Availability of the Interim Report Copies of the report will be available from the Company's registered office andalso from the Company's website www.octagonalplc.com