Red Leopard Holdings Regulatory News (RLH)

30 Sep 2005 07:01

Red Leopard Holdings PLC30 September 2005 Red Leopard Holdings plc Interim Results for the period 17/11/04 to 30/06/05 Chairman's Statement I am pleased to present the first financial results for Red Leopard Holdings plcfollowing its incorporation in November 2004. During the subsequent period to the financial year-end on 30 June, and beyond,your Board has worked to identify opportunities that will allow us to add valueas an investment group both in the leisure and property sectors and more widely.In particular, we are targetting opportunities that will allow us to use ourexpertise to exploit synergies between businesses that offer the chance for newconnectivities. As your chairman, I am pleased to report that our progress so far leaves us wellpositioned to benefit from the early projects on which we are currently working. Red Leopard's arrival on the AIM market of the London Stock Exchange in March2005 followed an offer for subscription during February that raised £1.45million before expenses. At the same time as gaining admission to AIM, the groupbought Harrell Hotels (Europe) Limited to take advantage of the opportunitiesavailable in the hospitality markets in the United Kingdom and Europe. Our first transaction, involving a new build development at North BrentfordQuarter in Chiswick, West London, has now gone to the Area Committee and isscheduled to go to the Sustainable Development Committee on the 7th November,when it is anticipated that formal consent will be granted. We had originallyanticipated consent sometime in December, which could place us ahead ofschedule. We have also embarked on a number of other initiatives, which we are activelynegotiating at present. We are looking both at hotel development projects andat the acquisition of groups of hotels, and we anticipate working with jointventure partners to secure management contracts. We are particularly aware ofthe opportunity to forge alliances that will allow us to extract hidden valuefrom the synergies created by marrying the capabilities of different groups nowworking completely independently of one another in the marketplace. In thatregard, we are currently considering a number of exciting investmentopportunities in property service businesses, and I hope to be able to report inmore detail on these at the appropriate time. For the period from incorporation on 17 November 2004 until 30 June 2005turnover was £Nil and the loss after tax was £72,704. In summary, I am pleased to report that the Board has since its arrival on AIMmade solid progress towards identifying and executing important early investmentopportunities, and I look forward to being able to report further progress toyou when we publish the first annual accounts for the Group. Clive Russell Chairman 30 September 2005 For further information contact: James Caithie, City Financial Associates: 020 7090 7800 Allan Piper, First City Financial Public Relations: 020 7436 7486 Profit And Loss AccountFor the period 17/11/04 to 30/06/05 Note Period Ended 30/06/2005 (unaudited) £ Turnover -Administrative expenses (87,203) ------------Operating Loss (87,203)Interest Receivable 14,499Loss on ordinary activities before taxation 1 (72,704)Taxation - ------------Loss on ordinary activities after taxation (72,704) ------------ Basic and diluted earnings per Ordinary share (pence) (0.03) ------------ Dividends per share (pence) 0 ------------ Balance Sheet As at 30/06/05 Note 30/06/2005 (unaudited) £ £ Intangible Fixed AssetsGoodwill 2,459,596 Tangible Fixed AssetsOffice Equipment 924 Current AssetsCash at Bank and in Hand 918,154Debtors 44,862 ----------- 963,016 Creditors: Amounts falling due within one year (29,715) -----------Net Current Assets 933,301 -------------Total Assets less Current Liabilities 3,393,821 Creditors: Amounts falling due in greater than one year 2 (1,250,000) -------------Net Assets 2,143,821 ------------- Called up share capital 3 441,198Share premium 4 1,775,327Profit and loss account (72,704) -------------Equity shareholders funds 2,143,821 -------------Net assets per share (pence) 5 0.97 ------------- Cash Flow Statement For the period from 17/11/04 to 30/06/05 Note Period Ended 30/06/2005 (unaudited) £ Net cash inflow from operating activities 1,178,838 Returns on investment and servicing of finance -Interest received 14,499 Capital expenditurePayments to acquire intangible fixed assets (2,490,730)Payments to acquire tangible fixed assets (978) FinancingProceeds of issue of ordinary shares 2,578,300Expenses of share issue (361,775) -------------Increase in cash 918,154 ------------- Notes to the Interim Report 1. Loss on ordinary activities before taxation The loss for the period is representative of operational overheads incurred inthe period. 2. Creditors: Amounts falling due in greater than one year This balance relates to an amount due on the acquisition of Harrell Hotels(Europe) Limited, payable in Conditional Shares providing the Vendor brings tothe company within 3 years of Admission three hospitality business opportunitiesand one non-hospitality business opportunity which the Directors deem feasible. 3. Called up share Capital The issued share capital compromises 220,599,230 ordinary shares of 0.2p each,consisting of 80,000 shares of £1 each issued as 80,000 £1 subscriber shares onincorporation and converted into 0.2p shares, 149,830,000 ordinary shares issuedat a price of 1p per ordinary share, and 30,769,230 ordinary shares issued at aprice of 3.25p per ordinary share. 4. Share premium The share premium represents: £ Premium arising on issues of ordinary shares in the period 2,137,102Expenses of share issues (361,775) -------------At 30th June 2005 1,775,327 ------------- 5. Net assets per share The calculation of net assets per share is based on the net assets at the end ofthe period of £2,143,821 and on the number of ordinary shares in issue(220,599,230) at 30th June 2005. 6. Preparation of Interim Report The interim financial information for the period from incorporation to 30th June2005 was approved by the directors on 30th September 2005. 7. Financial information The financial information in this statement does not constitute statutoryaccounts within the meaning of section 240 of the Companies Act 1985. 8. Availability Copies of the interim financial information for the period to 30th June 2005 arenot being sent to shareholders. Copies will be available from the Company'sregistered office, which is at 235 Old Marylebone Road, London NW1 50T. 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