News Column

Final Results

August 28, 2014

ETAIREIA INVESTMENTS PLC ("Etaireia" or the "Company") Audited Final Results I am pleased to present the results for Etaireia Investments PLC for the year ended 31 March 2014 prepared in accordance with IFRS. Financial Overview There was a loss from continuing operations for the year of 102,974 (2013: 101,696). Review of Activities In December 2013, the Company announced the appointment of Stuart Black as Chief Executive Director. Stuart brings to the Board, many years of experience, knowledge and contacts in the property and real estate sector. Following his appointment, on the 24 February 2014, the Company held a meeting of shareholders approving the adoption of a new investment strategy focusing on the property and real estate sector. During the period a total of 145,000 loan notes were converted to equity and on 28 March 2014, the Company announced that it had raised 650,000 through the subscription of new ordinary shares in Etaireia. Post Balance Sheet Events Since the financial year end, a total of 105,000 loan notes were converted into equity and the Company has raised an additional 671,400, by way of subscription of new ordinary shares and via the issue of zero coupon convertible loan notes. On 22 May 2014 the Board announced that the Company had acquired land in Scotland known as Bridgend Mills, Tofts, Dalry for a consideration of 725,000. The land consists of 3 acres (1.2 hectares) with current planning permission for a residential development. Since acquiring the land in May, the Company has achieved additional planning permissions for an additional 129 units and on 14 August 2014 Etaireia announced that the Board had commissioned an independent report which has placed an indicative value, on the Bridgend Mills land, of 1.3 million. The Directors will be taking taking further action to maximise the potential of this land before realising its value. The Board continues to evaluate further investment opportunities, with the objective of enhancing shareholder value and hope to make further announcements in the near future. Greg Collier Director 28 August 2014 STATEMENT OF COMPREHENSIVE INCOME FOR THE YEAR ENDED 31 MARCH 2014 2014 2013 CONTINUING OPERATIONS Administrative expenses (87,419) (79,822) LOSS FROM OPERATIONS (87,419) (79,822) Convertible loan finance charge (15,555) (21,874) LOSS FROM CONTINUING OPERATIONS BEFORE INCOME TAX (102,974) (101,696) Income tax - - ATTRIBUTABLE TO EQUITY HOLDERS (102,974) (101,696) Earnings per share: Basic and diluted earnings per share from total operations (0.05)p (0.08)p STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2014 2014 2013 Current assets Trade and other receivables - 1,500 Cash and cash equivalents 680,469 137,655 680,469 139,155 Current liabilities Trade and other payables (53,155) (18,850) Net current assets/(liabilities) 627,314 120,305 Non-current liabilities Convertible loan notes (92,806) (162,992) NET ASSETS/(LIABILITIES) 534,508 (42,687) Equity Issued share capital 264,197 217,036 Share premium account 1,140,758 448,491 Convertible loan - equity reserve 26,927 108,882 Accumulated losses (897,374) (817,096) SHAREHOLDERS' FUNDS/(NET DEFICIT) 534,508 (42,687) The financial statements were approved by the Board of Directors and authorised for issue on 29 August 2014. The Company Audited Annual report will be made available to view and download from the Company's ISDX page: http://www.isdx.com/forcompanies/ourcompanies/companydetail/default.aspx?securityid=100307 The Directors do not propose to pay a dividend for the period. The financial information contained in this announcement has been extracted from the Company's audited accounts. The Company has complied with Guidance Note 69.1 of the ISDX Growth Market - Rules for Issuers, throughout the relevant period. --ENDS-- Enquiries: Etaireia Investments Plc Greg Collier Tel: 078 3018 2501 Peterhouse Corporate Finance LimitedFungai Ndoro and Mark Anwyl Tel: 020 469 0934


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Source: Marketwire (UK Regulatory)


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