Half Yearly Report

RNS Number : 7245T

Shellproof Limited

09 December 2011

 



Shellproof Limited announces unaudited interim results for the 6 months ended 30 September 2011

Belize City, Belize, 9 December 2011 - Shellproof Limited (London-AIM: SHLP) ("Shellproof" or the "Company").

The Company was established in 2008 as a cash-shell entity.

It has continued to search for investment opportunities in line with its stated strategy which includes possible investment in either one or more quoted or unquoted businesses that may have been set up by entrepreneurs with good strategic plans and need financial backing and the support of the experienced Shellproof management team.

Recently, the Company has made a small exploratory investment in the business of high quality sparkling wine  production. A UK subsidiary has been established and the Company plans to incur up to approximately £350,000 of expenditures in connection with this investment.

The Board notes that, as of the date of this announcement, the shares of Shellproof trade on AIM at an approximate 20% discount to the Company's net asset value.

The Company reports a net profit of ₤7,000 for the six months ended 30 September 2011 (2010 - ₤53,000). Basic and diluted earnings per ordinary share for the six months ended 30 September 2011 amounted to 0.09 pence (2010 - 0.66 pence).

For further information contact:

Shellproof Limited                                         

Belize [phone]                                    

UK [phone]

Note: This and other press releases are available at the Company's web site: http://www.shellprooflimited.com. 

Shellproof Limited
Summarised income statement
6 months ended 30 September	2011	2010
	₤000	₤000
Interest income	72	84
Administrative expenses	(65)	(31)
Net profit before and after taxation	7	53
Earnings per ordinary share (basic and diluted) (in pence)	0.09	0.66

Shellproof Limited
Summarised balance sheet (unaudited)	30 September 2011	31 March 2011
	₤000	₤000
Fixed assets	73
Current assets
Cash and cash equivalents	4,235	4,257
Other current assets	10	19
Total assets	4,318	4,276
Current liabilities
Other payables	(49)	(14)
Net assets	4,269	4,262
Shareholders' equity	₤000	₤000
Share capital	4,000	4,000
Retained earnings	269	262
Total shareholders' equity	4,269	4,262
Shellproof Limited
Summarised statement of cash flows (unaudited)
6 months ended 30 September	2010	2009
	₤000	₤000
Net cash generated from operating activities	51	72
Purchase of fixed assets	(73)	0
Net (decrease) increase in cash for the period	(22)	72
Cash at beginning of period	4,257	4,156
Cash at end of period	4,235	4,228

-ENDS-

 

END

 

 

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