Annual Financial Report - DTR 6.3.5 Disclosure

RNS Number : 6234M

Shefa Yamim (A.T.M.) Ltd

30 April 2018

 

30 April 2018

Shefa Yamim (A.T.M.) Ltd

("Shefa Yamim" or the "Company")

ANNUAL FINANCIAL REPORT - DTR 6.3.5 Disclosure

Following the release on 29 March 2017 of the Company's Final Results Announcement for the financial year ended 31 December 2017, Shefa Yamim announces that the 2017 Annual Report and Accounts have been published today. These documents have been made publicly available on the Shefa Yamim website (www.shefayamim). The annual report can be found in the Investor section under Articles and Documents. The direct link is http://www.shefayamim.com/Articles-and-Documents

In compliance with 9.6.1 of the Listing Rules, a copy of the 2017 Annual Report and Accounts will shortly be available for inspection at the UK Listing Authority's National Storage Mechanism website: http://www.morningstar.co.uk/uk/NSM.

The primary purpose of this announcement is to inform the market about the publication of the Company's Annual Report and Accounts for the year ended 31 December 2017 (the "2017 Annual Report and Accounts").

The information below, which is extracted from the 2017 Annual Report and Accounts, is included solely for the purpose of complying with DTR 6.3.5 and the requirements it imposes on issuers as to how to make public annual financial reports. It should be read in conjunction with the Company's Final Results Announcement. Together these constitute the material required by DTR 6.3.4 to be communicated to the media in unedited full text through a Regulatory Information Service. This material is not a substitute for reading the full 2017 Annual Report and Accounts. References to page numbers and notes to the accounts set out in the Appendices below refer to page numbers and notes to the accounts in the Company's 2017 Annual Report and Accounts.

The Final Results Announcement includes an indication of the important events that occurred during the year and a condensed set of the financial statements.

The Company's auditor has reported on the accounts and its reports are unqualified. The Independent Auditor's Report on the Company's financial statements is set out in full on pages 26 of the 2017 Annual Report and Accounts.

APPENDIX A - DIRECTORS' RESPONSIBILITY STATEMENT

The 2017 Annual Report and Accounts contain a responsibility statement in compliance with paragraph 4.1.12 of the DTR. The directors' responsibility statement is set out on pages 15-16 of the 2017 Annual Report and Accounts for the Company. This statement is set out below in full and unedited text.

APPENDIX B - PRINCIPAL RISKS AND UNCERTAINTIES

The principal risks and uncertainties are set out on page 10 of the 2017 Annual Report and Accounts. The full and unedited text relating to these disclosures are set out below:

The Company is currently at an early stage of development and has yet to commence operations at the Kishon Mid Reach Project. The Company currently has no cash producing properties and therefore no positive cash flow. The Company will continue to have negative operating cash flow until commercial production is reached.

The ability of the Company to continue its activities as a going concern depends to a greater extent on its ability to continue to raise capital and/or debt. Considering the fact that precious stone exploration is unique to the Company in Israel, there is a risk that the Company only has a limited capacity to raise capital and/or debt from private investors and/or from the public.

In addition, as the Company has no previous experience in the mining industry and as there has been no previous attempt to mine for precious stones in Israel, there is a risk that the budgets planned by the Company in order to pursue its objectives shall not be sufficient and that the Company would require additional funding to complete the exploration plans.

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Enquiries

Shefa Yamim (A.T. M.) Ltd
Avi Taub, Chief Executive Officer www.shefayamim.com	[phone]
VSA Capital Limited - Financial Adviser and Joint Broker
Andrew Raca, Stephanie Jury	[phone]
Daniel Stewart & Company - Joint Broker
Jon Levinson, Richard Potts, David Lawman	[phone]
Luther Pendragon
Harry Chathli, Ana Ribeiro, Alexis Gore	[phone]

 

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