Final Results

RNS Number : 0255V

Shellshock Limited

22 May 2008

 



Shellshock Limited announces results for the period ended 31 March 2008

Belize City, Belize, 22 May 2008 - Shellshock Limited (London-AIM: SHOK) ('Shellshock' or the 'Company') reported net profit of ₤39,000 for the period 1 March 2006 (date of incorporation) to 31 March 2008, its first reported year-end since becoming listed on AIM in October 2007. Basic and diluted earnings per ordinary share for the period ended 31 March 2008 amounted to 0.65 pence.

Before 13 September 2007 the Company was inactive. On 13 September 2007, the Company issued 5,999,999 ordinary shares to its then parent company for a total consideration of ₤3.0 million. These funds were immediately invested in a UK sterling term deposit earning interest at market rates. 

Further details are set out in the Company's AIM Admission document dated 4 October 2007. 

The Company continues its 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 Shellshock management team.

For further information contact:

Shellshock Limited                

Belize [phone]                

UK [phone]

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

Shellshock Limited
Summarised income statement (unaudited) for the period  1 March 2006 to 31 March 2008	₤000
Interest income	66
Administrative expenses	(27)
Net profit before and after taxation	39
Earnings per ordinary share (basic and diluted) (in pence)	0.65
Summarised balance sheet (unaudited) at 31 March 2008	₤000
Current assets
Cash and cash equivalents	3,055
Other receivables	19
Total assets	3,074
Current liabilities
Other payables	(35)
Net assets	3,039
Shareholders' equity
Share capital	3,000
Retained earnings	39
Total shareholders' equity	3,039
Summarised statement of cash flows (unaudited) for the period  1 March 2006 to 31 March 2008	₤000
Operating activities
Net cash generated from operating activities	55
Financing activities
Proceeds from issue of ordinary share capital	3,000
Increase in cash for the period and at period end	3,055

Notes to the unaudited financial information

Shellshock was incorporated on 1 March 2006 with an authorised share capital of £25.0 million, comprising 50,000,000 ordinary shares of 50 pence each. On incorporation, one ordinary share was issued and allotted for cash. On 13 September 2007 the Company issued a further 5,999,999 ordinary shares for cash of ₤3,000,000.

 

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