ValiRx Regulatory News (VAL)

26 Sep 2006 16:46

Azure Holdings PLC26 September 2006 Azure Holdings Plc (" Company") Interim results for the six months ended 30 June 2006 Chairman's statement I am pleased to present the interim accounts for the six months ended 30 June2006. In the six months to 30 June 2006 the Company announced a loss after taxation of£138,000 (2005: £74,000). The figures should not reflect the future of the Company, which hopefully willmove forward successfully as ValiRx plc from early next month, because, asannounced on 11 September 2006, the reverse acquisition of ValiRx Limited hasbeen agreed and is subject to shareholders approval at the EGM scheduled for 2October 2006. If all the resolutions at that meeting are approved, the Company will retain itsAIM quotation and I will resign as Chairman leaving the new board and GerryDesler, Finance Director from the old board, to run the Company. Barry GoldChairman 26 September 2006 Azure Holdings plc Profit and Loss Account for the six months ended 30 June 2006 6 months ended 6 months ended Year ended 31 30 June 2006 30 June 2005 December 2005 (unaudited) (unaudited) (audited) £'000 £'000 £'000 Turnover - - - Administrative expenses (138) (74) (134) Operating loss (138) (74) (134) Loss on ordinary activities before taxation (138) (74) (134) Tax on loss on ordinary activities - - - Loss on ordinary activities after taxation (138) (74) (134) Retained loss for the period (138) (74) (134) Loss per ordinary share (0.12p) (0.15p) (0.28p) The profit and loss account has been prepared on the basis that all operationsare continuing operations. All recognised gains or losses are dealt withthrough the profit and loss account or statement of recognised gains and losses. Azure Holdings plc Balance Sheet as at 30 June 2006 30 June 2006 30 June 2005 31 December 2005 (unaudited) (unaudited) (audited) £'000 £'000 £'000Current assetsDebtors 9 3 1Cash at bank and in hand 127 1 1 136 4 2 Creditors: amounts falling due within one year (103) (147) (205) Net current assets/(liabilities) 33 (143) (203) Total assets less current liabilities 33 (143) (203) Net (liabilities)/assets 33 (143) (203) Capital and reservesCalled up Share Capital 6,271 5,475 5,475Share Premium 9,858 10,279 10,279Profit and loss account (16,096) (15,897) (15,957) Equity shareholders funds 33 (143) (203) Azure Holdings plc Cash Flow Statement for the six months ended 30 June 2006 6 months ended 6 months ended 30 June 2006 30 June 2005 (unaudited) (unaudited) £'000 £'000Net cash inflow (outflow) from operating activities (249) (13) FinancingIssue of ordinary shares 796 - Share premium reduction arising onconversion of loan stock (421) - Increase/(Decrease) in cash 126 (13) Azure Holdings plc Notes to the Interim Results 1. The interim results are unaudited and do not constitute statutoryaccounts within the meaning of section 240 of the Companies Act 1985. Thefigures for the year ended 31 December 2005 have been extracted from thestatutory accounts filed with the registrar of companies on which the auditorsgave an unqualified report. 2. The interim results have been prepared using the accountingpolicies set out in the statutory accounts for the year ended 31 December 2005. 3. The comparative figures for the unaudited interim results for theperiod ended 30 June 2005 are stated as announced on 27 September 2005. 4. Loss per share The loss per share for the six months ended 30 June 2006 has been calculated onthe basis of the loss after taxation for the period of £138,000 (2005: £74,000) and the weighted average number of shares in issue during the period of118,717,810 (2005: 48,317,569). . 5. The directors do not propose to pay a dividend for the period. This information is provided by RNS The company news service from the London Stock Exchange