Interim Results

Catalyst New Opportunities PLC 25 February 2005 For immediate Release 25 Ferbuary 2005 Catalyst New Opportunities PLC ('CNOP' or 'the Company') Chairman's Statement Interim Financial Results for the period ended 30th November 2004 The Company is pleased to report its unaudited financial results for the period from incorporation on 27th May 2004 to 30th November 2004. For the period ending 30th November 2004 the Company recorded a loss on ordinary activities of £59,000 before taxation. This reflects the costs of the Company's initial admission to trading on AIM and the fact that the Company is a 'shell' with no trading business. Since the Company's admission to trading on AIM on 4th August 2004, and in line with CNOP's investment strategy, your board is searching actively for suitable acquisitions and an announcement will be made when this objective is achieved. Andy Moore Chairman For Further information contact: Andy Moore, Chairman 07836 722840 Renwick Haddow, Director 07966 130182 Catalyst New Opportunities Plc Roland Cornish or Noelle Greenaway 020 7628 3396 Beaumont Cornish Limited Nominated Advisor UNAUDITED INTERIM FINANCIAL INFORMATION OF CATALYST NEW OPPORTUNITIES PLC FOR THE PERIOD ENDED 30 NOVEMBER 2004 PROFIT AND LOSS ACCOUNT Period ended 30 November 2004 (unaudited) £'000 Administrative expenses (59) --------- Operating loss (59) --------- Loss on ordinary activities before taxation (59) Taxation - --------- Retained loss for the period (59) ========= All results derive from continuing operations of the Company. There are no recognised gains or losses other than the loss for the period. BALANCE SHEET As at 30 November 2004 (unaudited) Notes £'000 Current assets Debtors 2 2 Cash at bank and in hand 158 --------- Creditors: amounts falling due within one year 3 160 (1) --------- Net current assets 159 --------- Total assets less current liabilities 159 --------- Net assets 159 ========= Capital and reserves Called up share capital 4 54 Share premium 164 Profit and loss account (59) --------- Equity shareholders' funds 5 159 ========= CASH FLOW STATEMENT Period ended 30 November 2004 (unaudited) Notes £'000 Net cash (outflow) from operating activities 6 (60) --------- Cash (outflow) before financing (60) Financing Issue of ordinary share capital 218 --------- Net cash inflow from financing 218 --------- Increase in cash in the period 158 ========= Reconciliation of net cash flow to movement in net debt Increase in cash in the period 158 Opening net funds - --------- Closing net funds 158 ========= NOTES TO THE INTERIM FINANCIAL INFORMATION 1. Accounting policies The interim financial information has been prepared on the historical cost basis. The interim financial results are unaudited. 2. Debtors As at 30 November 2004 £'000 Prepayments 2 ========= 3. Creditors: amounts falling due within one year As at 30 November 2004 £'000 Accruals 1 ========= 4. Share capital As at 30 November 2004 £'000 Authorised: 3,333,333 ordinary shares of 3p each 100 ========= Issued and fully paid: 1,783,335 ordinary shares of 3p each 54 ========= 5. Reconciliation of movement in shareholders' funds Period ended 30 November 2004 £'000 Loss for the period (59) Issue of equity shares 218 --------- Closing shareholders' funds 159 ========= 6. Reconciliation of operating loss to operating cash flows Period ended 30 November 2004 £'000 Operating loss (59) (Increase) in debtors (2) Increase in creditors 1 --------- Net cash (outflow) from operating activities (60) ========= 7. The unaudited interim financial information, which is the responsibility of the directors and was approved by them on 25th February 2005 does not constitute statutory accounts within the meaning of Section 240 of the Companies Act 1985. Copies of this Interim statement are available from the Company at its registered office: 10-13 Lovat Lane, London, EC3R 8DN, for a period of one month, free of charge. Catalyst New Opportunities PLC Independent review report to Catalyst New Opportunities PLC Introduction We have been instructed by the company to review the financial information for the period from incorporation on 27 May 2004 to 30 November 2004 which comprises a profit and loss account, balance sheet, cash flow statement and associated notes numbered 1 to 7. We have read the other information contained in the interim report and considered whether it contains any apparent misstatements or material inconsistencies with the financial information. Directors' responsibilities The interim report, including the financial information contained therein, is the responsibility of, and has been approved by, the directors. The directors are responsible for preparing the interim report and for ensuring that the accounting policies and presentation applied to the interim figures are consistent with those applied in preparing the preceding annual accounts except where any changes, and the reasons for them, are disclosed. Review work performed We conducted our review in accordance with guidance contained in Bulletin 1999/4 issued by the Auditing Practices Board for use in the United Kingdom. A review consists principally of making enquiries of management and applying analytical procedures to the financial information and underlying financial data and based thereon, assessing whether the accounting policies and presentation have been consistently applied unless otherwise disclosed. A review excludes audit procedures such as tests of controls and verification of assets, liabilities and transactions. It is substantially less in scope than an audit performed in accordance with United Kingdom Auditing Standards and therefore provides a lower level of assurance than an audit. Accordingly, we do not express an audit opinion on the financial information. Review conclusion On the basis of our review we are not aware of any material modifications that should be made to the financial information as presented for the period ended 30 November 2004. Spofforths Chartered Accountants 25 February 2005 30 Worthing Road Horsham West Sussex RH12 1SL This information is provided by RNS The company news service from the London Stock Exchange

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